Nomura Asset Management Co. Ltd. Acquires 24,960 Shares of EOG Resources, Inc. $EOG

Key Points

• Nomura Asset Management increased its stake in EOG Resources by 8.8% in the fourth quarter, buying an additional 24,960 shares and bringing its total holding to 309,888 shares worth about $32.5 million.
• EOG Resources reported strong quarterly results, posting EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion versus expectations of $6.18 billion, with revenue up 22.1% year over year.
• The company continues to pay a solid dividend, announcing a quarterly payout of $1.02 per share, or $4.08 annually, for a yield of about 3.0%.

Nomura Asset Management Co. Ltd. boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 309,888 shares of the energy exploration company's stock after purchasing an additional 24,960 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.06% of EOG Resources worth $32,541,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in EOG Resources in the fourth quarter worth approximately $33,000. Physician Wealth Advisors Inc. increased its holdings in EOG Resources by 103.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company's stock worth $35,000 after purchasing an additional 170 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in EOG Resources in the fourth quarter worth approximately $38,000. City Holding Co. increased its holdings in EOG Resources by 469.2% in the fourth quarter. City Holding Co. now owns 370 shares of the energy exploration company's stock worth $39,000 after purchasing an additional 305 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in EOG Resources in the third quarter worth approximately $41,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Up 2.3%

Shares of NYSE:EOG opened at $136.40 on Tuesday. The company has a market capitalization of $72.65 billion, a PE ratio of 13.43 and a beta of 0.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The business has a fifty day moving average price of $137.96 and a two-hundred day moving average price of $122.05. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. Analysts forecast that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio is 40.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EOG. The Goldman Sachs Group lifted their target price on EOG Resources from $135.00 to $139.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Truist Financial boosted their price objective on EOG Resources from $146.00 to $149.00 and gave the company a "hold" rating in a report on Friday, May 8th. Citigroup restated a "neutral" rating and set a $147.00 price objective (up from $142.00) on shares of EOG Resources in a report on Wednesday, May 20th. Zacks Research downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada boosted their price objective on EOG Resources from $138.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.39.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $140.04, for a total value of $582,706.44. Following the transaction, the chief financial officer owned 100,246 shares of the company's stock, valued at $14,038,449.84. The trade was a 3.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,456 shares of company stock valued at $1,788,033 in the last 90 days. Corporate insiders own 0.14% of the company's stock.

EOG Resources Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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