Russell Investments Group Ltd. Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Russell Investments Group Ltd. increased its holdings in EOG Resources by 9.3% during the first quarter, owning a total of 665,250 shares valued at approximately $85.27 million.
• EOG Resources reported a quarterly earnings of $2.32 per share, surpassing expectations by 18 cents, with revenue of $5.48 billion, a 9.1% decline year-over-year.
$1.02 per share, which will provide stockholders with an annualized dividend yield of 3.5%.

Russell Investments Group Ltd. increased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 665,250 shares of the energy exploration company's stock after purchasing an additional 56,835 shares during the period. Russell Investments Group Ltd. owned 0.12% of EOG Resources worth $85,274,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC grew its holdings in shares of EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after buying an additional 106,677 shares during the period. ARGA Investment Management LP raised its holdings in shares of EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

EOG Resources Stock Down 0.6%

EOG Resources stock traded down $0.73 during midday trading on Friday, hitting $119.06. 2,944,305 shares of the stock were exchanged, compared to its average volume of 3,639,455. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The stock has a market capitalization of $65.01 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 9.19 and a beta of 0.80. The business's 50-day moving average price is $120.19 and its 200-day moving average price is $119.56. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

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

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's payout ratio is presently 37.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EOG. Royal Bank Of Canada reduced their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Susquehanna increased their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Barclays raised their price target on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and dropped their price target for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $140.71.

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.