Pictet Asset Management Holding SA Grows Position in EOG Resources, Inc. $EOG

Key Points

• Pictet Asset Management increased its stake in EOG Resources by 6.0% in Q4 to 226,889 shares, valued at about $23.83 million.
• Insider selling has been notable: insiders sold 18,230 shares in the last 90 days, including COO Jeffrey Leitzell (5,698 shares at $150.32) and CFO Ann Janssen (4,161 shares at $140.04), leaving insiders with just 0.14% ownership.
• Operational and market snapshot: EOG beat quarterly EPS estimates ($2.27 vs. $2.20) on $5.64B revenue, pays a $1.02 quarterly dividend (annual $4.08, yield 2.9%), and has a consensus price target of $153.68 with an average rating of "Moderate Buy."

Pictet Asset Management Holding SA increased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,889 shares of the energy exploration company's stock after purchasing an additional 12,920 shares during the quarter. Pictet Asset Management Holding SA's holdings in EOG Resources were worth $23,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EOG. JCIC Asset Management Inc. acquired a new stake in shares of EOG Resources in the third quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new position in shares of EOG Resources during the 4th quarter worth approximately $33,000. Physician Wealth Advisors Inc. raised its position in shares of EOG Resources by 103.0% during the 4th 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 during the last quarter. Salomon & Ludwin LLC lifted its stake in EOG Resources by 122.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company's stock valued at $36,000 after buying an additional 178 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in EOG Resources in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction that occurred 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 directly owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,230 shares of company stock worth $2,522,568. 0.14% of the stock is currently owned by company insiders.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $140.80 on Friday. The business's 50-day simple moving average is $134.92 and its 200 day simple moving average is $117.61. The company has a market cap of $75.43 billion, a P/E ratio of 15.45, a PEG ratio of 1.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.63. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. EOG Resources had a net margin of 22.00% and a return on equity of 18.67%. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period last year, the business earned $2.74 EPS. The business's revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that EOG Resources, Inc. will post 14.23 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, April 16th. This represents a $4.08 annualized dividend and a yield of 2.9%. EOG Resources's dividend payout ratio is presently 44.79%.

Analyst Ratings Changes

A number of analysts recently commented on EOG shares. Morgan Stanley lifted their price objective on EOG Resources from $128.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Scotiabank upped their target price on shares of EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Mizuho raised their price target on shares of EOG Resources from $146.00 to $147.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Raymond James Financial boosted their price objective on shares of EOG Resources from $157.00 to $185.00 and gave the company a "strong-buy" rating in a research report on Friday, March 27th. Finally, Weiss Ratings raised shares of EOG Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $153.68.

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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