Natixis Advisors LLC Acquires 35,995 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Natixis Advisors LLC increased its stake in EOG Resources by 7.2%, acquiring an additional 35,995 shares, bringing its total ownership to approximately 534,184 shares worth $68.5 million.
• Several brokerages have recently adjusted their price targets for EOG Resources, with KeyCorp lowering it from $150 to $140, while Scotiabank decreased theirs from $150 to $130.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, yielding 3.36%, with the payment set for October 31st, reflecting its solid financial performance despite a slight revenue decline year-over-year.

Natixis Advisors LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 534,184 shares of the energy exploration company's stock after buying an additional 35,995 shares during the quarter. Natixis Advisors LLC owned 0.10% of EOG Resources worth $68,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. Silvercrest Asset Management Group LLC grew its stake in shares of EOG Resources by 14.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of EOG Resources by 24.2% in the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of EOG Resources by 15.3% in the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of EOG Resources by 37.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in shares of EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

EOG Resources Stock Performance

NYSE:EOG traded down $3.38 during trading hours on Friday, reaching $116.64. The company had a trading volume of 2,688,978 shares, compared to its average volume of 2,830,165. 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 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market cap of $63.66 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 9.22 and a beta of 0.80. The firm's 50 day moving average price is $118.96 and its 200-day moving average price is $120.65.

EOG Resources (NYSE:EOG - Get Free Report) last posted its 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 net margin of 26.14% and a return on equity of 22.35%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The firm's revenue was down 7.4% on a year-over-year basis. On average, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. 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 presently 36.18%.

Analyst Ratings Changes

Several analysts recently issued reports on EOG shares. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Bank of America lowered their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Raymond James Financial raised their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Jefferies Financial Group restated a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Twelve 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.62.

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.