Intech Investment Management LLC Increases Holdings in EOG Resources, Inc. $EOG

Key Points

• Intech Investment Management boosted its EOG Resources stake by 856.2% in the fourth quarter, ending with 300,434 shares valued at about $31.5 million.
• Institutional interest in EOG remains strong, with about 89.91% of the stock owned by hedge funds and other institutions. Several other firms also increased holdings, including Capital World Investors and Assenagon Asset Management.
• EOG reported better-than-expected quarterly results, with EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion, up 22.1% year over year. The company also announced a quarterly dividend of $1.02 per share, implying a 3.0% yield.

Intech Investment Management LLC increased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 856.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 300,434 shares of the energy exploration company's stock after purchasing an additional 269,014 shares during the quarter. Intech Investment Management LLC owned about 0.06% of EOG Resources worth $31,549,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock worth $6,156,495,000 after buying an additional 782,426 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of EOG Resources in the third quarter worth about $87,193,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of EOG Resources by 2,410.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 719,426 shares of the energy exploration company's stock worth $75,547,000 after buying an additional 690,765 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of EOG Resources by 288.1% in the third quarter. TD Asset Management Inc now owns 892,482 shares of the energy exploration company's stock worth $100,065,000 after buying an additional 662,539 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of EOG Resources by 140.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,102,999 shares of the energy exploration company's stock worth $115,826,000 after buying an additional 644,569 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EOG shares. Citigroup reissued a "neutral" rating and issued a $147.00 price target (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Zacks Research raised shares of EOG Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. increased their price target on shares of EOG Resources from $145.00 to $148.00 in a report on Thursday, May 7th. Scotiabank increased their price target on shares of EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Capital One Financial raised their target price on shares of EOG Resources from $130.00 to $161.00 and gave the company an "overweight" rating in a research note on Thursday, March 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $156.39.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,230 shares of company stock valued at $2,272,568. Corporate insiders own 0.14% of the company's stock.

EOG Resources Trading Up 0.2%

Shares of EOG opened at $134.52 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm's 50 day simple moving average is $138.09 and its 200 day simple moving average is $121.67. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The company has a market capitalization of $71.65 billion, a P/E ratio of 13.24 and a beta of 0.27.

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

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid 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 40.16%.

EOG Resources 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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