South Plains Financial Inc. Takes Position in EOG Resources, Inc. (NYSE:EOG)

South Plains Financial Inc. bought a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,147 shares of the energy exploration company's stock, valued at approximately $753,000.

Several other institutional investors also recently bought and sold shares of the stock. Essex Financial Services Inc. raised its stake in EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company's stock worth $753,000 after acquiring an additional 79 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of EOG Resources by 2.6% in the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company's stock worth $385,000 after purchasing an additional 79 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company's stock valued at $121,000 after buying an additional 80 shares during the last quarter. 1ST Source Bank lifted its stake in EOG Resources by 1.5% during the 4th quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock valued at $656,000 after acquiring an additional 80 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its holdings in shares of EOG Resources by 2.0% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock valued at $498,000 after acquiring an additional 80 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Up 0.2 %

NYSE:EOG traded up $0.22 during midday trading on Tuesday, hitting $108.74. 2,351,509 shares of the company were exchanged, compared to its average volume of 3,247,355. The company has a fifty day simple moving average of $117.92 and a 200 day simple moving average of $124.97. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market capitalization of $59.97 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78.

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 for the quarter, topping the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 earnings per share. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be paid a $0.975 dividend. The ex-dividend date is Thursday, July 17th. This represents a $3.90 annualized dividend and a yield of 3.59%. EOG Resources's dividend payout ratio is currently 36.18%.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares of the company's stock, valued at $6,098,240.32. This represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EOG shares. Royal Bank of Canada raised shares of EOG Resources from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Morgan Stanley reduced their target price on EOG Resources from $142.00 to $136.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Benchmark reissued a "hold" rating on shares of EOG Resources in a report on Monday, January 13th. Barclays decreased their price objective on shares of EOG Resources from $140.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, UBS Group dropped their target price on shares of EOG Resources from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $140.95.

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.