NewEdge Wealth LLC Has $30.62 Million Position 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 position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 62.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,735 shares of the energy exploration company's stock after purchasing an additional 92,108 shares during the period. NewEdge Wealth LLC's holdings in EOG Resources were worth $30,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in EOG Resources during the first quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources during the 4th quarter worth approximately $36,000. 10Elms LLP bought a new stake in EOG Resources in the 4th quarter valued at $44,000. Finally, Hanson & Doremus Investment Management bought a new stake in EOG Resources in the 1st quarter valued at $51,000. 89.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EOG shares. Barclays upped their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Roth Capital lowered shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Mizuho cut their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Finally, Raymond James Financial increased 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. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.62.

EOG Resources Trading Down 2.8%

Shares of EOG opened at $116.64 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. 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 8.96 and a beta of 0.80. The business's fifty day moving average is $118.96 and its 200-day moving average is $120.54.

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

EOG Resources Increases Dividend

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

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company's stock.

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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