Phoenix Financial Ltd. Buys 5,365 Shares of EOG Resources, Inc. (NYSE:EOG)

Key Points

• Phoenix Financial Ltd. increased its stake in EOG Resources by 298.9% during the first quarter, acquiring an additional 5,365 shares to reach a total of 7,160 shares, valued at $921,000.
• Several institutional investors modified their holdings in EOG Resources, with most recent stakes reflecting a strong interest, as 89.91% of the stock is owned by such entities.
• EOG Resources announced a quarterly dividend increase from $0.98 to $1.02 per share, set to be paid on October 31st, resulting in an annual yield of 3.45%.

Phoenix Financial Ltd. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 298.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,160 shares of the energy exploration company's stock after acquiring an additional 5,365 shares during the quarter. Phoenix Financial Ltd.'s holdings in EOG Resources were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Equitable Trust Co. increased its stake in shares of EOG Resources by 10.1% during the 1st quarter. Equitable Trust Co. now owns 6,992 shares of the energy exploration company's stock valued at $897,000 after acquiring an additional 641 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of EOG Resources by 11.4% during the 1st quarter. Baillie Gifford & Co. now owns 104,519 shares of the energy exploration company's stock worth $13,404,000 after purchasing an additional 10,666 shares during the period. Trilogy Capital Inc. grew its holdings in shares of EOG Resources by 2.0% during the 1st quarter. Trilogy Capital Inc. now owns 23,022 shares of the energy exploration company's stock worth $2,952,000 after purchasing an additional 441 shares during the period. Westover Capital Advisors LLC grew its holdings in shares of EOG Resources by 101.1% during the 1st quarter. Westover Capital Advisors LLC now owns 31,506 shares of the energy exploration company's stock worth $4,040,000 after purchasing an additional 15,837 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of EOG Resources by 19.1% during the 1st quarter. Cetera Investment Advisers now owns 130,249 shares of the energy exploration company's stock worth $16,703,000 after purchasing an additional 20,903 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Down 0.7%

EOG Resources stock traded down $0.86 during mid-day trading on Wednesday, hitting $122.29. The company's stock had a trading volume of 720,127 shares, compared to its average volume of 3,677,616. The firm's 50 day moving average is $118.45 and its 200 day moving average is $120.88. The company has a market cap of $66.75 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 9.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18.

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. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period last year, the business earned $2.82 EPS. The business's quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.34%. EOG Resources's dividend payout ratio (DPR) is 36.18%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EOG has been the subject of a number of research reports. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Susquehanna boosted their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, UBS Group restated a "buy" rating and issued a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources 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.