EOG Resources, Inc. (NYSE:EOG) Shares Acquired by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its stake in EOG Resources, Inc. by 26.4% in Q1, holding 124,515 shares valued at approximately $15.97 million.
• EOG Resources will pay a quarterly dividend of $1.02 on October 31st, which marks an increase from its previous dividend of $0.98, resulting in an annualized yield of 3.5%.
• Analysts have a consensus rating of "Moderate Buy" for EOG Resources, with target prices varying between $137.00 and $148.00, indicating potential upside for investors.

Waycross Partners LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 26.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,515 shares of the energy exploration company's stock after acquiring an additional 26,043 shares during the quarter. EOG Resources comprises about 1.8% of Waycross Partners LLC's investment portfolio, making the stock its 27th largest holding. Waycross Partners LLC's holdings in EOG Resources were worth $15,968,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in 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 valued at $6,922,633,000 after buying an additional 348,895 shares during the period. Capital World Investors boosted its position in 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 buying an additional 2,270,013 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 1,188,552 shares during the period. Northern Trust Corp raised its holdings in EOG Resources by 2.9% during the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company's stock worth $701,036,000 after purchasing an additional 159,216 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after purchasing an additional 60,454 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction 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 transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EOG. Mizuho lowered their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Bank of America cut their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Stephens started coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Stock Up 0.1%

Shares of NYSE:EOG traded up $0.12 on Friday, hitting $116.09. 3,969,060 shares of the company traded hands, compared to its average volume of 2,984,186. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a 50 day simple moving average of $119.63 and a 200-day simple moving average of $119.85. The company has a market cap of $63.36 billion, a PE ratio of 11.28, a PEG ratio of 8.90 and a beta of 0.80. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.46% and a net margin of 25.25%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the company posted $3.16 EPS. The firm's revenue was down 9.1% on a year-over-year basis. As a group, research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. EOG Resources's payout ratio is 39.65%.

EOG Resources Company 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.