Teachers Retirement System of The State of Kentucky Purchases 29,459 Shares of EOG Resources, Inc. $EOG

Key Points

• Teachers Retirement System of the State of Kentucky increased its EOG Resources stake by 66.9% in the first quarter, buying 29,459 more shares and bringing its total to 73,479 shares valued at about $10.6 million.
• EOG Resources reported strong quarterly results, posting EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion versus expectations of $6.18 billion, with revenue up 22.1% year over year.
• The company also announced a quarterly dividend of $1.02 per share, implying an annualized dividend of $4.08 and a yield of 2.9%.

Teachers Retirement System of The State of Kentucky lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 66.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,479 shares of the energy exploration company's stock after purchasing an additional 29,459 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in EOG Resources were worth $10,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hardy Reed LLC grew its holdings in EOG Resources by 3.8% during the first quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock worth $325,000 after purchasing an additional 82 shares during the period. Fulton Bank N.A. raised its stake in EOG Resources by 2.1% in the first quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company's stock valued at $662,000 after buying an additional 93 shares during the period. Ethos Financial Group LLC lifted its position in shares of EOG Resources by 2.5% in the fourth quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock valued at $439,000 after buying an additional 100 shares during the last quarter. Anchor Investment Management LLC lifted its position in shares of EOG Resources by 44.0% in the first quarter. Anchor Investment Management LLC now owns 334 shares of the energy exploration company's stock valued at $48,000 after buying an additional 102 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of EOG Resources by 0.4% in the fourth quarter. Sumitomo Life Insurance Co. now owns 22,784 shares of the energy exploration company's stock valued at $2,393,000 after buying an additional 102 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

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

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources's revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business earned $2.87 earnings per share. As a group, equities 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. Shareholders of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EOG. UBS Group decreased their target price on EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 2nd. Susquehanna raised their price target on EOG Resources from $144.00 to $162.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. Scotiabank lifted their price objective on shares of EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Piper Sandler upped their price objective on shares of EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Finally, Barclays increased their price objective on shares of EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.04.

EOG Resources Company 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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