LSV Asset Management Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• LSV Asset Management significantly increased its stake in EOG Resources by 290.5% in Q1, bringing their total holdings to 687,446 shares valued at approximately $88.16 million.
• Analysts have positive outlooks on EOG Resources, with Raymond James raising the stock's target price from $158.00 to $161.00 and issuing a "strong-buy" rating, while overall analyst consensus rates it as a "Moderate Buy".
• EOG Resources announced a quarterly dividend of $1.02, increasing from the previous $0.98, which reflects a yield of 3.5% and a payout ratio of 36.18%.

LSV Asset Management increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 290.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 687,446 shares of the energy exploration company's stock after acquiring an additional 511,418 shares during the period. LSV Asset Management owned approximately 0.13% of EOG Resources worth $88,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Bank Pictet & Cie Europe AG raised its stake in EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after acquiring an additional 89,521 shares during the last quarter. OneAscent Financial Services LLC purchased a new position in EOG Resources in the 4th quarter worth $237,000. Westpac Banking Corp raised its stake in EOG Resources by 430.6% in the 4th quarter. Westpac Banking Corp now owns 2,165 shares of the energy exploration company's stock worth $265,000 after acquiring an additional 1,757 shares during the last quarter. World Investment Advisors raised its stake in EOG Resources by 8.3% in the 4th quarter. World Investment Advisors now owns 6,434 shares of the energy exploration company's stock worth $789,000 after acquiring an additional 495 shares during the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new position in EOG Resources in the 4th quarter worth $236,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOG. 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 research note on Tuesday, July 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Finally, Mizuho cut their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Twelve equities research 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.62.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated 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 directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

EOG Resources Trading Down 2.8%

EOG stock opened at $116.64 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market cap of $63.66 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 8.96 and a beta of 0.80. The business's 50-day moving average is $118.96 and its 200 day moving average is $120.54.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $5.92 billion. During the same period in the previous year, the firm posted $2.82 EPS. EOG Resources's revenue was down 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.5%. The ex-dividend date 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 presently 36.18%.

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.

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