Woodley Farra Manion Portfolio Management Inc. Has $41.69 Million Position in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Woodley Farra Manion Portfolio Management Inc. increased its stake in EOG Resources by 1.2%, now holding 325,123 shares valued at approximately $41.7 million, making it the firm's 22nd largest investment.
• Institutional investors collectively own 89.91% of EOG’s stock, with notable boosts in holdings from firms like Capital World Investors and Geode Capital Management.
• EOG Resources recently declared an increased quarterly dividend of $1.02 per share, reflecting a rise from the previous amount of $0.98, with a dividend yield of 3.31%.

Woodley Farra Manion Portfolio Management Inc. increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 325,123 shares of the energy exploration company's stock after purchasing an additional 3,787 shares during the quarter. EOG Resources makes up about 2.1% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 22nd biggest holding. Woodley Farra Manion Portfolio Management Inc. owned 0.06% of EOG Resources worth $41,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its position in EOG Resources by 14.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after acquiring an additional 106,677 shares in the last quarter. ARGA Investment Management LP raised its position in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after acquiring an additional 2,616 shares in the last quarter. CWA Asset Management Group LLC raised its position in EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after acquiring an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of EOG Resources by 37.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc raised its position in shares of EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after purchasing an additional 8,127 shares during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Roth Capital lowered shares of EOG Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. KeyCorp dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Jefferies Financial Group reissued a "buy" rating and issued a $148.00 price objective (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. 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 research report on Thursday, July 17th. Finally, Susquehanna increased their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Twelve research 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.62.

EOG Resources Price Performance

EOG Resources stock traded down $3.38 during trading hours on Friday, reaching $116.64. 2,688,978 shares of the stock were exchanged, compared to its average volume of 2,830,165. The company has a market cap of $63.66 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 9.22 and a beta of 0.80. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a 50 day moving average of $118.83 and a two-hundred day moving average of $120.78.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 earnings per share. Equities analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. 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 dividend payout ratio is currently 36.18%.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by insiders.

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.