Public Sector Pension Investment Board Increases Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• The Public Sector Pension Investment Board increased its stake in EOG Resources, Inc. by 3.0%, owning 150,339 shares valued at approximately $19.28 million after acquiring an additional 4,424 shares.
• EOG Resources recently declared a quarterly dividend of $1.02 per share, reflecting an annualized yield of 3.5% and an increase from the previous dividend of $0.98.
9.1% decrease in revenue year-over-year, EOG reported earnings of $2.32 per share, surpassing analyst estimates and maintaining a return on equity of 20.51%.

Public Sector Pension Investment Board grew its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 150,339 shares of the energy exploration company's stock after buying an additional 4,424 shares during the quarter. Public Sector Pension Investment Board's holdings in EOG Resources were worth $19,279,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. Bank Pictet & Cie Europe AG boosted its stake in shares of EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock valued at $30,449,000 after buying an additional 89,521 shares during the period. Townsquare Capital LLC raised its position in shares of EOG Resources by 13.6% during the 4th quarter. Townsquare Capital LLC now owns 21,374 shares of the energy exploration company's stock worth $2,620,000 after acquiring an additional 2,563 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of EOG Resources during the 4th quarter worth about $627,000. SageView Advisory Group LLC raised its position in shares of EOG Resources by 2.3% during the 4th quarter. SageView Advisory Group LLC now owns 10,196 shares of the energy exploration company's stock worth $1,250,000 after acquiring an additional 233 shares in the last quarter. Finally, Mariner LLC raised its position in shares of EOG Resources by 7.5% during the 4th quarter. Mariner LLC now owns 111,571 shares of the energy exploration company's stock worth $13,676,000 after acquiring an additional 7,763 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Trading Up 0.5%

Shares of EOG stock opened at $116.81 on Tuesday. The business's 50 day moving average is $119.74 and its two-hundred day moving average is $119.65. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a market capitalization of $63.77 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 8.90 and a beta of 0.80. 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 posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. Equities analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is presently 37.90%.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EOG shares. Jefferies Financial Group reissued a "buy" rating and set a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and cut their target price for the stock from $140.00 to $134.00 in a research report on Wednesday, July 9th. Mizuho cut their target price on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. UBS Group reissued a "buy" rating and set a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Finally, Bank of America cut their target price 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $140.62.

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.

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