Nexus Investment Management ULC Grows Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Nexus Investment Management ULC lifted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,758 shares of the energy exploration company's stock after acquiring an additional 10,160 shares during the quarter. EOG Resources makes up approximately 4.0% of Nexus Investment Management ULC's portfolio, making the stock its 13th largest position. Nexus Investment Management ULC's holdings in EOG Resources were worth $26,515,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA bought a new position in EOG Resources during the fourth quarter valued at about $123,000. Foundations Investment Advisors LLC lifted its holdings in shares of EOG Resources by 6.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,951 shares of the energy exploration company's stock worth $239,000 after buying an additional 113 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of EOG Resources by 2.6% in the fourth quarter. Perigon Wealth Management LLC now owns 3,342 shares of the energy exploration company's stock worth $410,000 after buying an additional 84 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in EOG Resources by 19.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 265,549 shares of the energy exploration company's stock valued at $32,551,000 after purchasing an additional 43,344 shares in the last quarter. Finally, Swedbank AB raised its stake in EOG Resources by 62.9% in the fourth quarter. Swedbank AB now owns 364,021 shares of the energy exploration company's stock valued at $44,622,000 after purchasing an additional 140,589 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EOG shares. Scotiabank raised shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Bank of America decreased 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. Piper Sandler dropped their target price on shares of EOG Resources from $135.00 to $133.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.63.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

EOG Resources Price Performance

Shares of EOG traded up $2.52 during mid-day trading on Monday, reaching $111.09. The stock had a trading volume of 2,792,248 shares, compared to its average volume of 3,278,640. The firm has a market cap of $60.63 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 3.58 and a beta of 0.78. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The business has a fifty day moving average of $113.11 and a 200 day moving average of $123.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

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 for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The business 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%. The company's revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 earnings per share. Equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be given a $0.975 dividend. The ex-dividend date of this dividend is Thursday, July 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.51%. EOG Resources's payout ratio is currently 36.18%.

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.