Beese Fulmer Investment Management Inc. Increases Holdings in EOG Resources, Inc. (NYSE:EOG)

Beese Fulmer Investment Management Inc. lifted its position in EOG Resources, Inc. (NYSE:EOG) by 2.1% in the first quarter, Holdings Channel reports. The firm owned 53,910 shares of the energy exploration company’s stock after buying an additional 1,095 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in EOG Resources were worth $6,913,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after purchasing an additional 2,270,013 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after purchasing an additional 781,282 shares during the period. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after purchasing an additional 234,067 shares during the period. Northern Trust Corp boosted its holdings in shares of EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after purchasing an additional 159,216 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after purchasing an additional 365,115 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $108.54 on Friday. The business’s fifty day simple moving average is $113.11 and its 200-day simple moving average is $123.22. The company has a market cap of $59.24 billion, a PE ratio of 8.74, a PEG ratio of 3.58 and a beta of 0.78. 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 12-month low of $102.52 and a 12-month high of $138.18.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results 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 business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. Analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the transaction, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EOG. Bank of America lowered their price target on EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. UBS Group reduced their price objective on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Scotiabank raised shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and reduced their price objective for the stock from $150.00 to $130.00 in a research note on Friday, April 11th. Raymond James reissued a “strong-buy” rating on shares of EOG Resources in a research note on Tuesday, May 20th. Finally, Mizuho reduced 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. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average target price of $139.79.

EOG Resources 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.