S Bank Fund Management Ltd Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Key Points

• S Bank Fund Management Ltd has made a notable new investment in EOG Resources, purchasing 27,735 shares valued at approximately $3.56 million in the 1st quarter.
• EOG Resources recently announced a quarterly dividend increase to $1.02 per share, indicating a positive shift from the previous $0.98 dividend.
• Analysts have a consensus rating of "Moderate Buy" for EOG Resources, with an average price target of $140.71, reflecting bullish sentiment on the stock's performance.

S Bank Fund Management Ltd bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 27,735 shares of the energy exploration company's stock, valued at approximately $3,557,000.

A number of other large investors have also added to or reduced their stakes in EOG. Vanguard Group Inc. lifted its holdings in shares of EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after buying an additional 348,895 shares during the period. Capital World Investors lifted its stake in shares of EOG Resources by 5.2% during the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after purchasing an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares during the last quarter. Northern Trust Corp raised its stake in EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock valued at $701,036,000 after buying an additional 159,216 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after buying an additional 60,454 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research analyst reports. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Bank of America cut their price objective on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Raymond James Financial increased their price objective on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Stephens started coverage on EOG Resources in a report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price on the stock. Twelve equities research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.71.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction on Monday, June 30th. The shares were 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

EOG Resources Stock Down 0.6%

Shares of NYSE EOG traded down $0.73 during mid-day trading on Friday, reaching $119.06. The company had a trading volume of 2,944,305 shares, compared to its average volume of 3,001,705. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock has a market capitalization of $65.01 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 9.21 and a beta of 0.80. The stock's 50 day moving average is $120.19 and its 200-day moving average is $119.56.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.45 billion. During the same quarter last year, the company earned $3.16 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $1.02 dividend. 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 3.4%. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is 37.90%.

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.