Procyon Advisors LLC Has $1.05 Million Position in EOG Resources, Inc. (NYSE:EOG)

Procyon Advisors LLC grew its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 325.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,185 shares of the energy exploration company's stock after purchasing an additional 6,259 shares during the period. Procyon Advisors LLC's holdings in EOG Resources were worth $1,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mountain Lake Investment Management LLC acquired a new stake in EOG Resources during the 4th quarter worth $735,000. Silvercrest Asset Management Group LLC increased its holdings in shares of EOG Resources by 14.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after acquiring an additional 106,677 shares in the last quarter. Tobam bought a new stake in shares of EOG Resources in the fourth quarter worth about $352,000. Marble Harbor Investment Counsel LLC raised its position in shares of EOG Resources by 3.2% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company's stock worth $12,630,000 after purchasing an additional 3,150 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of EOG Resources by 10.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,112 shares of the energy exploration company's stock valued at $14,601,000 after purchasing an additional 10,910 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 2.6%

NYSE:EOG opened at $113.93 on Friday. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a market capitalization of $62.18 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average price is $111.51 and its two-hundred day moving average price is $122.32.

EOG Resources (NYSE:EOG - Get Free Report) last issued its 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. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. Equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's dividend payout ratio is presently 36.18%.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Raymond James increased their target price on EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a research note on Monday, June 2nd. Susquehanna lowered their price objective on shares of EOG Resources from $161.00 to $156.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Mizuho reduced their target price on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Citigroup dropped their price target on EOG Resources from $134.00 to $125.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $139.58.

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.

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