Geode Capital Management LLC Has $1.36 Billion Stake in EOG Resources, Inc. $EOG

Key Points

• Geode Capital Management increased its EOG Resources stake by 0.7% in the fourth quarter, ending with about 13.0 million shares valued at roughly $1.36 billion.
• Several analysts turned more positive on EOG, with multiple price-target hikes and a consensus rating of Moderate Buy; the average target price is now $156.39.
• EOG reported better-than-expected quarterly results, with EPS of $3.41 beating estimates and revenue rising 22.1% year over year, while also announcing a $1.02 quarterly dividend payable July 31.

Geode Capital Management LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,046,709 shares of the energy exploration company's stock after acquiring an additional 95,260 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of EOG Resources worth $1,364,309,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EOG. Sivia Capital Partners LLC acquired a new stake in shares of EOG Resources during the 2nd quarter valued at $258,000. Quantbot Technologies LP acquired a new stake in shares of EOG Resources during the 2nd quarter valued at $349,000. Gamco Investors INC. ET AL boosted its holdings in shares of EOG Resources by 216.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock valued at $785,000 after acquiring an additional 4,485 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of EOG Resources by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after acquiring an additional 444 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of EOG Resources by 4.4% during the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after acquiring an additional 15,250 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EOG shares. Truist Financial raised their price objective on EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a report on Friday, May 8th. Capital One Financial raised their price objective on EOG Resources from $130.00 to $161.00 and gave the company an "overweight" rating in a report on Thursday, March 26th. DA Davidson raised their price objective on EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wall Street Zen raised EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada lifted their target price on EOG Resources from $138.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $156.39.

EOG Resources Stock Up 0.2%

Shares of EOG opened at $134.52 on Friday. The company has a market capitalization of $71.65 billion, a PE ratio of 13.24 and a beta of 0.27. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The stock's 50-day moving average price is $138.09 and its two-hundred day moving average price is $121.67. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.87 EPS. On average, analysts anticipate that EOG Resources, Inc. will post 15.67 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 3.0%. EOG Resources's payout ratio is presently 40.16%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,230 shares of company stock worth $2,272,568 over the last ninety days. Company insiders own 0.14% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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