NewEdge Wealth LLC Raises Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Key Points

• NewEdge Wealth LLC increased its stake in EOG Resources, Inc. by 62.8%, now holding 238,735 shares valued at approximately $30.62 million.
• The company recently announced a quarterly dividend of $1.02 per share, up from $0.98, yielding 3.5% annually.
• EOG Resources reported $2.87 EPS for the last quarter, beating estimates, although its revenue decreased by 7.4% year-over-year.

NewEdge Wealth LLC lifted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 62.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,735 shares of the energy exploration company's stock after buying an additional 92,108 shares during the quarter. NewEdge Wealth LLC's holdings in EOG Resources were worth $30,615,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its position in shares of EOG Resources by 56.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after buying an additional 89,521 shares during the period. OneAscent Financial Services LLC acquired a new stake in shares of EOG Resources during the fourth quarter worth about $237,000. Westpac Banking Corp increased its position in shares of EOG Resources by 430.6% during the fourth quarter. Westpac Banking Corp now owns 2,165 shares of the energy exploration company's stock worth $265,000 after purchasing an additional 1,757 shares in the last quarter. World Investment Advisors increased its position 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 valued at $789,000 after acquiring an additional 495 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in EOG Resources in the 4th quarter valued at about $236,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Activity at EOG Resources

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

EOG Resources Stock Performance

NYSE EOG traded up $0.85 during trading hours on Thursday, hitting $117.44. 1,342,704 shares of the company's stock traded hands, compared to its average volume of 3,643,368. The business's fifty day moving average price is $119.36 and its two-hundred day moving average price is $120.23. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $64.10 billion, a P/E ratio of 10.89, a P/E/G ratio of 9.02 and a beta of 0.80. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources Increases Dividend

The business 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 $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. EOG Resources's dividend payout ratio (DPR) is currently 36.18%.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Royal Bank Of Canada dropped their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Raymond James Financial increased their price target on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. KeyCorp reduced their price target on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $140.00 to $134.00 in a research report on Wednesday, July 9th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

About EOG Resources

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.