Fayez Sarofim & Co Acquires 28,096 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Fayez Sarofim & Co increased its stake in EOG Resources by 1.6%, acquiring an additional 28,096 shares, bringing their total holdings to 1,764,700 shares valued at approximately $226.3 million.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, reflecting a dividend yield of 3.5% based on an annualized payout of $4.08.
• Several analysts have adjusted their price targets, with Raymond James raising their target to $161.00 while maintaining a "strong-buy" rating on the stock.

Fayez Sarofim & Co raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,764,700 shares of the energy exploration company's stock after acquiring an additional 28,096 shares during the period. Fayez Sarofim & Co owned about 0.32% of EOG Resources worth $226,305,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of EOG. Silvercrest Asset Management Group LLC raised its holdings in shares of EOG Resources by 14.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after acquiring an additional 106,677 shares in the last quarter. ARGA Investment Management LP lifted its position in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares during the period. CWA Asset Management Group LLC increased its position in shares of EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after buying an additional 8,127 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Down 0.9%

Shares of NYSE:EOG opened at $116.68 on Thursday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The firm's 50 day moving average price is $119.36 and its 200 day moving average price is $120.23. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $63.68 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 9.02 and a beta of 0.80.

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 paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. EOG Resources's payout ratio is presently 36.18%.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EOG. Raymond James Financial lifted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Scotiabank raised shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. UBS Group reissued a "buy" rating and set a $140.00 price objective (up from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Bank of America lowered their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Twelve equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Company 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.

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