Gulf International Bank UK Ltd Has $4.09 Million Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Gulf International Bank UK Ltd reduced its stake in EOG Resources, Inc. by 30.3%, owning 31,904 shares valued at $4.09 million as of the latest SEC filing.
• EOG Resources recently announced a quarterly dividend of $1.02 per share, representing a 3.4% yield, which marks an increase from the previous dividend of $0.98.
• Analysts have a consensus rating of "Moderate Buy" for EOG Resources, with price targets varying from $140.00 to $161.00, reflecting optimism for the company's growth.

Gulf International Bank UK Ltd lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 31,904 shares of the energy exploration company's stock after selling 13,853 shares during the period. Gulf International Bank UK Ltd's holdings in EOG Resources were worth $4,091,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EOG. Banque Cantonale Vaudoise acquired a new stake in EOG Resources during the 1st quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in EOG Resources during the 1st quarter worth $34,000. Ameriflex Group Inc. acquired a new stake in EOG Resources during the 4th quarter worth $36,000. 10Elms LLP acquired a new stake in EOG Resources during the 4th quarter worth $44,000. Finally, Stone House Investment Management LLC acquired a new stake in EOG Resources during the 1st quarter worth $48,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EOG. Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Barclays boosted their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. UBS Group reissued a "buy" rating and issued a $142.00 price target (up previously from $140.00) on shares of EOG Resources in a report on Tuesday. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Finally, Raymond James Financial boosted their price target on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Twelve equities 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $140.71.

EOG Resources Stock Up 1.1%

Shares of EOG stock opened at $119.32 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The firm's 50-day moving average is $120.01 and its 200-day moving average is $119.64. The stock has a market cap of $65.15 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 9.02 and a beta of 0.80. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18.

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

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 3.4%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's payout ratio is currently 37.90%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company's stock.

About EOG Resources

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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