Oak Ridge Investments LLC Buys 2,369 Shares of EOG Resources, Inc. $EOG

Key Points

• Oak Ridge Investments LLC increased its stake in EOG Resources, Inc. by 5.7%, acquiring an additional 2,369 shares to reach a total of 43,643 shares, valued at approximately $5.6 million.
• In the latest earnings report, EOG Resources posted an EPS of $2.32, exceeding analysts' expectations, while also announcing a quarterly dividend increase from $0.98 to $1.02 per share.
• Institutional investors now hold 89.91% of EOG Resources' stock, with several firms, including Nuveen LLC and Deutsche Bank AG, significantly increasing their positions during recent quarters.

Oak Ridge Investments LLC increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,643 shares of the energy exploration company's stock after buying an additional 2,369 shares during the quarter. Oak Ridge Investments LLC's holdings in EOG Resources were worth $5,597,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EOG. Nuveen LLC acquired a new position in EOG Resources during the first quarter valued at $451,908,000. Capital World Investors raised its position in EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after buying an additional 2,270,013 shares during the period. GAMMA Investing LLC raised its position in EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after buying an additional 1,272,765 shares during the period. Charles Schwab Investment Management Inc. raised its position in EOG Resources by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after buying an additional 1,188,552 shares during the period. Finally, Deutsche Bank AG raised its position in EOG Resources by 58.6% during the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after buying an additional 769,362 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on 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 sale, the chief operating officer directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on EOG shares. KeyCorp cut their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho dropped their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Raymond James Financial increased their price objective on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Finally, Bank of America reduced their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

EOG Resources Stock Performance

Shares of NYSE:EOG traded down $1.39 during trading on Monday, reaching $117.60. 2,743,203 shares of the stock were exchanged, compared to its average volume of 3,633,709. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The firm has a market cap of $64.21 billion, a PE ratio of 11.43, a PEG ratio of 9.15 and a beta of 0.80. The stock has a 50-day moving average price of $120.29 and a 200-day moving average price of $119.33. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

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

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.5%. EOG Resources's dividend payout ratio is currently 37.90%.

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.