Townsquare Capital LLC Grows Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Townsquare Capital LLC increased its stake in EOG Resources by 20.7%, acquiring an additional 4,432 shares and raising total holdings to 25,806 shares, valued at approximately $3.3 million.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, marking a rise from its previous dividend of $0.98, representing a yield of 3.5%.
$2.32 per share for the last quarter, exceeding the consensus estimate, but showed a 9.1% year-over-year decrease in quarterly revenue.

Townsquare Capital LLC boosted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 20.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,806 shares of the energy exploration company's stock after buying an additional 4,432 shares during the quarter. Townsquare Capital LLC's holdings in EOG Resources were worth $3,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of EOG. Capital World Investors grew its position in EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. GAMMA Investing LLC grew its position in EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after buying an additional 1,272,765 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of EOG Resources by 6.5% in 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 in the last quarter. Deutsche Bank AG boosted its holdings in shares of EOG Resources by 58.6% in the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock worth $255,139,000 after purchasing an additional 769,362 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of EOG Resources by 134.7% in the 4th quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock worth $158,720,000 after purchasing an additional 743,202 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.4%

Shares of NYSE:EOG traded up $0.43 during trading on Thursday, hitting $119.90. The stock had a trading volume of 2,230,085 shares, compared to its average volume of 3,640,149. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a market capitalization of $65.46 billion, a PE ratio of 11.65, a PEG ratio of 9.02 and a beta of 0.80. The firm's fifty day moving average is $120.01 and its 200 day moving average is $119.64. 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 announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the company earned $3.16 EPS. The business's revenue was down 9.1% compared to the same quarter last year. Analysts anticipate 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. Investors of record on Friday, October 17th will be given a dividend of $1.02 per share. This is a boost from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.4%. EOG Resources's dividend payout ratio is 37.90%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on EOG. Piper Sandler cut their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Royal Bank Of Canada cut their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Raymond James Financial upped their price objective on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. KeyCorp dropped their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, UBS Group restated a "buy" rating and set a $142.00 target price (up from $140.00) on shares of EOG Resources in a report on Tuesday. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.