Sequoia Financial Advisors LLC Grows Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Sequoia Financial Advisors increased its EOG Resources stake by 49.6% in the first quarter, ending with 22,820 shares valued at about $3.3 million.
• Wall Street sentiment is constructive: analysts now show a “Moderate Buy” consensus on EOG, with an average price target of $155.04.
• EOG reported strong quarterly results, topping earnings and revenue expectations, and also announced a $1.02 quarterly dividend, equal to a 2.9% annualized yield.

Sequoia Financial Advisors LLC raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 49.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,820 shares of the energy exploration company's stock after acquiring an additional 7,567 shares during the quarter. Sequoia Financial Advisors LLC's holdings in EOG Resources were worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EOG. Sivia Capital Partners LLC purchased a new stake in EOG Resources during the 2nd quarter worth about $258,000. Quantbot Technologies LP purchased a new position in EOG Resources during the 2nd quarter valued at about $349,000. Gamco Investors INC. ET AL grew its holdings in EOG Resources by 216.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock valued at $785,000 after buying an additional 4,485 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after buying an additional 444 shares during the period. Finally, Sei Investments Co. increased its position in shares of EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after buying an additional 15,250 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson raised their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Capital One Financial decreased their target price on shares of EOG Resources from $161.00 to $159.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. Barclays increased their target price on shares of EOG Resources from $140.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. Weiss Ratings raised shares of EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Finally, Roth Capital reaffirmed a "neutral" rating and issued a $136.00 price target on shares of EOG Resources in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $155.04.

EOG Resources Stock Up 4.0%

Shares of NYSE:EOG opened at $139.50 on Tuesday. The firm has a market capitalization of $74.30 billion, a PE ratio of 13.73 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The firm has a fifty day moving average of $135.56 and a 200 day moving average of $127.75.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter last year, the business posted $2.87 earnings per share. The company's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts anticipate that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources's payout ratio is presently 40.16%.

About EOG Resources

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.

Want to see what other hedge funds are holding EOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EOG Resources, Inc. (NYSE:EOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.