GAMMA Investing LLC Purchases 1,272,765 Shares of EOG Resources, Inc. (NYSE:EOG)

GAMMA Investing LLC raised its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 14,784.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,281,374 shares of the energy exploration company's stock after purchasing an additional 1,272,765 shares during the period. GAMMA Investing LLC owned 0.23% of EOG Resources worth $164,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC raised its holdings in EOG Resources by 4,642.2% during the 4th quarter. Wealthfront Advisers LLC now owns 2,852,238 shares of the energy exploration company's stock valued at $349,627,000 after acquiring an additional 2,792,092 shares during the period. Capital World Investors raised its stake in shares of EOG Resources by 5.2% during 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 period. Raymond James Financial Inc. purchased a new stake in EOG Resources during the 4th quarter worth about $171,193,000. Charles Schwab Investment Management Inc. lifted its holdings in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company's stock worth $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings 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 valued at $255,139,000 after buying an additional 769,362 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of EOG Resources from $150.00 to $146.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler lowered their target price on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley boosted their price target on shares of EOG Resources from $132.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday. Bank of America decreased their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EOG Resources currently has a consensus rating of "Moderate Buy" and an average target price of $139.58.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.

EOG Resources Price Performance

NYSE:EOG traded down $1.77 during mid-day trading on Wednesday, reaching $111.05. The stock had a trading volume of 1,909,923 shares, compared to its average volume of 3,278,776. The stock has a market capitalization of $60.61 billion, a P/E ratio of 8.94, a P/E/G ratio of 3.58 and a beta of 0.78. The firm has a 50 day moving average price of $112.48 and a two-hundred day moving average price of $122.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the firm posted $2.82 earnings per share. The business's revenue was down 7.4% compared to the same quarter last year. As a group, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. 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 annualized dividend and a yield of 3.67%. EOG Resources's payout ratio is currently 36.18%.

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.