EOG Resources, Inc. $EOG Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has increased its holdings in EOG Resources by 31.8%, now owning 56,740 shares valued at approximately $7.27 million.
• The energy exploration company recently announced a quarterly dividend increase to $1.02 per share, reflecting an annualized rate of $4.08 and a dividend yield of 3.4%.
• EOG Resources reported $2.32 EPS for the latest quarter, exceeding analysts' expectations, with quarterly revenue of $5.48 billion, though down 9.1% year-over-year.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 31.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,740 shares of the energy exploration company's stock after purchasing an additional 13,702 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in EOG Resources were worth $7,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in EOG Resources during the 1st quarter worth $26,000. Alpine Bank Wealth Management purchased a new stake in EOG Resources during the 1st quarter worth $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources during the 4th quarter worth $36,000. 10Elms LLP purchased a new stake in EOG Resources during the 4th quarter worth $44,000. Finally, Stone House Investment Management LLC purchased a new stake in EOG Resources during the 1st quarter worth $48,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial upped their price target on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. Susquehanna upped their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. UBS Group upped their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Melius Research initiated coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective for the company. Finally, Royal Bank Of Canada decreased their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $143.61.

Insiders Place Their Bets

In related 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 sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.

EOG Resources Stock Up 0.4%

Shares of EOG Resources stock traded up $0.55 during trading on Friday, reaching $124.89. The company had a trading volume of 1,737,955 shares, compared to its average volume of 2,737,268. The company has a market cap of $68.19 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.50 and a beta of 0.80. The firm's fifty day moving average is $120.06 and its 200-day moving average is $118.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.16 EPS. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

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.