North Dakota State Investment Board Takes Position in EOG Resources, Inc. $EOG

Key Points

• North Dakota State Investment Board opened a new position in EOG Resources in the fourth quarter, buying 18,742 shares worth about $1.97 million.
• Insider selling was notable last quarter, with CFO Ann D. Janssen and COO Jeffrey R. Leitzell among executives selling shares; insiders sold 18,230 shares total.
• EOG reported strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $1.02 per share, or $4.08 annualized, for a 2.9% yield.

North Dakota State Investment Board purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,742 shares of the energy exploration company's stock, valued at approximately $1,968,000.

Several other institutional investors have also recently made changes to their positions in EOG. Sivia Capital Partners LLC purchased a new position in shares of EOG Resources during the second quarter valued at $258,000. Quantbot Technologies LP purchased a new position in shares of EOG Resources during the second quarter valued at $349,000. Gamco Investors INC. ET AL increased its stake in shares of EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock valued at $785,000 after buying an additional 4,485 shares during the period. NewEdge Advisors LLC increased its stake in shares of EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after buying an additional 444 shares during the period. Finally, Sei Investments Co. increased its stake in shares of EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after buying an additional 15,250 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Activity

In other news, CFO Ann D. Janssen sold 4,161 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $140.04, for a total transaction of $582,706.44. Following the sale, the chief financial officer owned 100,246 shares in the company, valued at approximately $14,038,449.84. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. The trade was a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,230 shares of company stock worth $2,522,568 in the last quarter. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Sanford C. Bernstein set a $155.00 price target on EOG Resources and gave the company a "market perform" rating in a research note on Monday, May 11th. Piper Sandler raised their price target on EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. Scotiabank raised their price target on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Mizuho lifted their target price on EOG Resources from $147.00 to $149.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their target price on EOG Resources from $135.00 to $139.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.21.

EOG Resources Price Performance

EOG opened at $143.03 on Tuesday. The business's 50-day moving average is $137.03 and its two-hundred day moving average is $119.77. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. 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 firm has a market capitalization of $76.18 billion, a PE ratio of 14.08 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the previous year, the firm earned $2.87 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. Research analysts anticipate that EOG Resources, Inc. will post 14.83 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources's payout ratio is 40.16%.

EOG Resources Company 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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