Jefferies Financial Group Inc. Makes New $6.46 Million Investment in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Jefferies Financial Group Inc. has made a new investment of approximately $6.46 million in EOG Resources, acquiring 50,388 shares of the energy company.
• Several institutional investors have also entered positions in EOG, contributing to a total of 89.91% ownership of the company's stock by institutional investors and hedge funds.
• EOG Resources has announced an increase in its quarterly dividend to $1.02, representing an annualized yield of 3.5% and a payout ratio of 36.18%.

Jefferies Financial Group Inc. acquired a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,388 shares of the energy exploration company's stock, valued at approximately $6,462,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EOG. Banque Cantonale Vaudoise acquired a new position in shares of EOG Resources during the first quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources during the first quarter valued at $34,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources during the fourth quarter valued at $36,000. 10Elms LLP acquired a new position in shares of EOG Resources during the fourth quarter valued at $44,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of EOG Resources during the first quarter valued at $51,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EOG. Scotiabank raised EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their price target for the company from $150.00 to $130.00 in a research note on Friday, April 11th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and cut their price target for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Raymond James Financial raised their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Trading Down 2.8%

NYSE EOG opened at $116.64 on Friday. The firm has a market cap of $63.66 billion, a P/E ratio of 10.82, a P/E/G ratio of 9.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The stock's 50-day moving average is $118.96 and its 200-day moving average is $120.65. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18.

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

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's payout ratio is 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.

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