Grimes & Company Inc. Purchases 2,477 Shares of EOG Resources, Inc. (NYSE:EOG)

Grimes & Company Inc. boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,425 shares of the energy exploration company's stock after purchasing an additional 2,477 shares during the quarter. Grimes & Company Inc.'s holdings in EOG Resources were worth $19,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in EOG Resources during the fourth quarter worth $25,000. Lee Danner & Bass Inc. bought a new position in EOG Resources during the fourth quarter worth $28,000. Heritage Wealth Advisors boosted its position in EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company's stock worth $30,000 after purchasing an additional 208 shares during the period. Sierra Ocean LLC bought a new position in EOG Resources during the fourth quarter worth $32,000. Finally, Ameriflex Group Inc. bought a new position in EOG Resources during the fourth quarter worth $36,000. 89.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EOG. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. KeyCorp dropped their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Susquehanna dropped their target price on EOG Resources from $161.00 to $156.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $140.10.

EOG Resources Stock Down 1.7%

Shares of NYSE EOG opened at $123.20 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $67.24 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 3.58 and a beta of 0.74. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The stock has a 50-day moving average price of $112.36 and a two-hundred day moving average price of $121.68.

EOG Resources (NYSE:EOG - Get Free Report) last issued its 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. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business's quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share. As a group, analysts forecast 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. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.31%. EOG Resources's payout ratio is presently 36.18%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the business'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 sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

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.

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