TD Asset Management Inc Increases Stake in EOG Resources, Inc. $EOG

Key Points

• TD Asset Management increased its EOG Resources stake by 26.8% in the fourth quarter, bringing its holdings to 1,131,338 shares worth about $118.8 million.
• EOG reported strong quarterly results, with EPS of $3.41 topping estimates and revenue of $6.92 billion, up 22.1% year over year.
• The company announced a quarterly dividend of $1.02 per share, implying an annualized yield of 2.9%, while analysts currently rate the stock a consensus Moderate Buy with a $156.32 price target.

TD Asset Management Inc grew its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,131,338 shares of the energy exploration company's stock after acquiring an additional 238,856 shares during the quarter. TD Asset Management Inc owned about 0.21% of EOG Resources worth $118,802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors raised its stake in shares of EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after acquiring an additional 782,426 shares during the period. Vanguard Group Inc. raised its stake in shares of EOG Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after acquiring an additional 446,341 shares during the period. Capital Research Global Investors grew its holdings in shares of EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock worth $2,794,784,000 after purchasing an additional 122,486 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of EOG Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company's stock worth $1,364,309,000 after purchasing an additional 95,260 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of EOG Resources by 0.8% in the third quarter. Northern Trust Corp now owns 5,974,950 shares of the energy exploration company's stock worth $669,911,000 after purchasing an additional 49,987 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer directly owned 88,045 shares in the company, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,456 shares of company stock worth $1,788,033 over the last 90 days. Company insiders own 0.14% of the company's stock.

EOG Resources Stock Down 0.5%

Shares of EOG Resources stock opened at $140.79 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The firm's 50-day moving average is $137.97 and its two-hundred day moving average is $122.71. The stock has a market cap of $74.99 billion, a price-to-earnings ratio of 13.86 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the prior year, the business earned $2.87 EPS. The firm's quarterly revenue was up 22.1% on a year-over-year basis. As a group, research analysts expect that EOG Resources, Inc. will post 15.67 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company set a $196.00 price target on shares of EOG Resources and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Roth Mkm restated a "neutral" rating and issued a $136.00 price target on shares of EOG Resources in a report on Wednesday, May 6th. Susquehanna upped their price target on shares of EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a report on Tuesday, April 21st. Scotiabank upped their price target on shares of EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Williams Trading set a $177.00 price target on shares of EOG Resources in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have issued a Hold rating to the company's stock. According to MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.32.

EOG Resources Profile

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.

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