Legacy Trust Boosts Holdings in EOG Resources, Inc. (NYSE:EOG)

Legacy Trust lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,062 shares of the energy exploration company's stock after acquiring an additional 2,375 shares during the quarter. Legacy Trust's holdings in EOG Resources were worth $3,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Mainstream Capital Management LLC acquired a new position in EOG Resources during the fourth quarter worth $25,000. Lee Danner & Bass Inc. bought a new stake in EOG Resources in the 4th quarter valued at $28,000. Heritage Wealth Advisors grew 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 buying an additional 208 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of EOG Resources during the fourth quarter valued at approximately $32,000. Finally, Ameriflex Group Inc. acquired a new position in shares of EOG Resources in the 4th quarter valued at $36,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Up 4.1%

Shares of NYSE:EOG traded up $4.93 during trading hours on Friday, hitting $125.52. The company's stock had a trading volume of 7,913,403 shares, compared to its average volume of 3,327,264. The company has a market capitalization of $68.50 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 3.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm's fifty day moving average price is $111.58 and its 200 day moving average price is $121.95.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. EOG Resources's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $2.82 EPS. As a group, research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of recent analyst reports. Bank of America dropped their target price on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. KeyCorp dropped their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Mizuho decreased their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. UBS Group reiterated a "buy" rating and set a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company cut their target price on shares of EOG Resources from $150.00 to $146.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

EOG Resources 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.