First Citizens Bank & Trust Co. Purchases 8,012 Shares of EOG Resources, Inc. $EOG

Key Points

• First Citizens Bank & Trust Co. increased its EOG Resources stake by 178% in the third quarter, adding 8,012 shares to own 12,512 shares worth approximately $1.72 million. Institutional investors and hedge funds collectively own 89.91% of EOG.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $160.56. EOG recently reported better-than-expected quarterly earnings of $5.07 per share and revenue of $8.62 billion.
• EOG announced a quarterly dividend of $1.02 per share, equivalent to a $4.08 annualized payout and a 2.7% yield. Company insiders sold a combined 52,317 shares worth about $7.82 million over the prior 90 days.

First Citizens Bank & Trust Co. lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 178.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,512 shares of the energy exploration company's stock after buying an additional 8,012 shares during the period. First Citizens Bank & Trust Co.'s holdings in EOG Resources were worth $1,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new position in shares of EOG Resources in the second quarter worth $5,905,587,000. Dimensional Fund Advisors LP increased its holdings in shares of EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company's stock valued at $848,228,000 after purchasing an additional 54,091 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of EOG Resources during the second quarter valued at about $654,899,000. Bank of America Corp DE bought a new stake in shares of EOG Resources during the second quarter valued at about $551,321,000. Finally, First Trust Advisors LP raised its stake in shares of EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company's stock valued at $498,189,000 after purchasing an additional 468,090 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Capital One Financial downgraded shares of EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price objective for the company. in a report on Wednesday, August 26th. Mizuho set a $165.00 target price on shares of EOG Resources in a research note on Thursday. Raymond James Financial restated a "strong-buy" rating and set a $186.00 price target (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 price target on shares of EOG Resources in a research note on Saturday, October 3rd. Finally, Barclays set a $147.00 price target on shares of EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eighteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $160.56.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $152.58 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company's 50-day moving average price is $145.52 and its two-hundred day moving average price is $140.16. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $155.00. The stock has a market cap of $80.03 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.36.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business's revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.32 EPS. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 17.13 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources's dividend payout ratio is currently 31.75%.

Insider Activity at EOG Resources

In related news, COO Jeffrey Leitzell sold 9,039 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the sale, the chief operating officer directly owned 90,790 shares in the company, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,317 shares of company stock valued at $7,823,480 over the last ninety days. Insiders own 0.14% of the company's stock.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG's principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.

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