Meeder Asset Management Inc. Purchases 81,343 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Meeder Asset Management Inc. increased its stake in EOG Resources by 182.7% during the 1st quarter, now holding 125,873 shares valued at approximately $16.1 million.
• EOG Resources declared a quarterly dividend of $1.02 per share, reflecting an increase from the previous dividend, equating to an annualized yield of 3.36%.
• Analysts have mixed ratings on EOG Resources, with a Moderate Buy average rating and a price target of $140.62 from twelve research analysts.

Meeder Asset Management Inc. grew its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 182.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,873 shares of the energy exploration company's stock after buying an additional 81,343 shares during the quarter. EOG Resources accounts for 1.1% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 20th largest position. Meeder Asset Management Inc.'s holdings in EOG Resources were worth $16,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors lifted its stake in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares during the last quarter. GAMMA Investing LLC grew its stake in EOG Resources by 14,784.1% during the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after buying an additional 1,272,765 shares during the last quarter. Deutsche Bank AG lifted its position in EOG Resources by 58.6% during the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock worth $255,139,000 after acquiring an additional 769,362 shares during the period. AQR Capital Management LLC lifted its holdings in shares of EOG Resources by 134.7% in the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock valued at $158,720,000 after buying an additional 743,202 shares during the period. Finally, Demars Financial Group LLC lifted its holdings in shares of EOG Resources by 12,422.5% in the 4th quarter. Demars Financial Group LLC now owns 643,156 shares of the energy exploration company's stock valued at $78,838,000 after buying an additional 638,020 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on EOG. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and dropped their target price for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, KeyCorp cut their price objective on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Trading Down 2.5%

Shares of NYSE:EOG traded down $2.99 during mid-day trading on Friday, reaching $117.03. 1,442,283 shares of the company's stock were exchanged, compared to its average volume of 3,668,591. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The business's fifty day moving average price is $118.83 and its 200-day moving average price is $120.78. The firm has a market capitalization of $63.87 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 9.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the firm earned $2.82 earnings per share. EOG Resources's quarterly revenue was down 7.4% on a year-over-year basis. On average, research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.