Freedom Investment Management Inc. Grows Position in EOG Resources, Inc. $EOG

Key Points

• Freedom Investment Management Inc. significantly boosted its stake in EOG Resources, Inc. by acquiring an additional 6,515 shares, resulting in a total of 10,501 shares worth approximately $1,347,000.
• EOG Resources recently declared a quarterly dividend of $1.02 per share, reflecting a slight increase from the previous quarter's dividend of $0.98, and representing an annualized yield of 3.4%.
• The company's latest financial report showed EOG Resources beating analysts' earnings per share estimates with $2.32 EPS for the quarter, despite a 9.1% decline in revenue year-over-year.

Freedom Investment Management Inc. lifted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 163.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,501 shares of the energy exploration company's stock after acquiring an additional 6,515 shares during the period. Freedom Investment Management Inc.'s holdings in EOG Resources were worth $1,347,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EOG. Silvercrest Asset Management Group LLC increased its position in EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares in the last quarter. ARGA Investment Management LP increased its holdings in EOG Resources by 24.2% in the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after purchasing an additional 2,616 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in EOG Resources by 15.3% in the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in EOG Resources by 37.9% in 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 acquiring an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of EOG Resources by 4.7% in the first 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. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EOG has been the topic of several recent analyst reports. UBS Group lifted their target price on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Barclays raised their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Roth Capital downgraded EOG Resources from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Finally, Susquehanna increased their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $143.61.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of EOG stock traded up $1.41 on Thursday, hitting $124.29. 1,931,216 shares of the stock traded hands, compared to its average volume of 2,773,246. The firm has a 50 day simple moving average of $120.06 and a two-hundred day simple moving average of $119.04. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market cap of $67.86 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 9.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the company posted $3.16 EPS. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The firm 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's payout ratio is 37.90%.

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.