Lazard Asset Management LLC Raises Holdings in EOG Resources, Inc. (NYSE:EOG)

Lazard Asset Management LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 126,974 shares of the energy exploration company's stock after buying an additional 11,003 shares during the period. Lazard Asset Management LLC's holdings in EOG Resources were worth $15,563,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of EOG. Financial Life Planners purchased a new stake in EOG Resources in the 4th quarter worth $25,000. Y.D. More Investments Ltd grew its position in shares of EOG Resources by 149.4% during the fourth quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company's stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources during the fourth quarter valued at about $25,000. Decker Retirement Planning Inc. purchased a new position in shares of EOG Resources during the fourth quarter valued at about $27,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of EOG Resources during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Trading Down 0.4%

Shares of NYSE:EOG traded down $0.43 during trading hours on Friday, hitting $115.43. 3,406,023 shares of the company's stock traded hands, compared to its average volume of 3,292,958. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The business has a fifty day moving average price of $115.84 and a 200-day moving average price of $124.28. The firm has a market capitalization of $63.00 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, July 17th. EOG Resources's dividend payout ratio is presently 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now owns 47,732 shares of the company's stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James restated a "strong-buy" rating and set a $140.00 price objective on shares of EOG Resources in a research report on Monday, April 21st. Wells Fargo & Company cut their price objective on EOG Resources from $150.00 to $146.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada upgraded EOG Resources from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, KeyCorp dropped their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.63.

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.