Geneos Wealth Management Inc. Raises Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Geneos Wealth Management Inc. increased its stake in EOG Resources by 42.3%, acquiring 12,951 shares in the first quarter, bringing their total holdings to 43,543 shares valued at approximately $5.58 million.
• EOG Resources has announced a quarterly dividend of $1.02 per share, up from the previous $0.98, with the ex-dividend date set for October 17th.
• The company reported earnings of $2.87 per share for the last quarter, slightly beating estimates, while the revenue of $5.84 billion missed analysts' expectations of $5.92 billion.

Geneos Wealth Management Inc. increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 42.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 43,543 shares of the energy exploration company's stock after purchasing an additional 12,951 shares during the period. Geneos Wealth Management Inc.'s holdings in EOG Resources were worth $5,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in EOG Resources during the 1st quarter valued at approximately $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources during the 4th quarter valued at approximately $36,000. 10Elms LLP purchased a new stake in EOG Resources during the 4th quarter valued at approximately $44,000. Hanson & Doremus Investment Management acquired a new position in EOG Resources during the 1st quarter worth approximately $51,000. Finally, Golden State Wealth Management LLC increased its position in EOG Resources by 204.4% during the 1st quarter. Golden State Wealth Management LLC now owns 411 shares of the energy exploration company's stock worth $53,000 after purchasing an additional 276 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank upgraded 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. Barclays boosted their target price on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Raymond James Financial boosted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. Susquehanna boosted their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, Bank of America dropped their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.62.

EOG Resources Price Performance

NYSE:EOG traded down $1.14 during trading hours on Thursday, reaching $120.10. 2,657,234 shares of the company traded hands, compared to its average volume of 2,769,151. The firm's 50-day moving average is $118.83 and its 200-day moving average is $120.78. The stock has a market cap of $65.55 billion, a P/E ratio of 11.14, a P/E/G ratio of 9.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

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

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. 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.