Rockland Trust Co. Purchases 2,053 Shares of EOG Resources, Inc. (NYSE:EOG)

Rockland Trust Co. raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 224,888 shares of the energy exploration company’s stock after buying an additional 2,053 shares during the quarter. EOG Resources makes up about 1.4% of Rockland Trust Co.’s holdings, making the stock its 24th largest position. Rockland Trust Co.’s holdings in EOG Resources were worth $28,840,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mountain Lake Investment Management LLC bought a new position in shares of EOG Resources in the fourth quarter valued at $735,000. Silvercrest Asset Management Group LLC increased its holdings in EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company’s stock worth $101,256,000 after purchasing an additional 106,677 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its holdings in EOG Resources by 3.2% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 103,037 shares of the energy exploration company’s stock worth $12,630,000 after purchasing an additional 3,150 shares in the last quarter. Northside Capital Management LLC bought a new stake in EOG Resources during the 1st quarter worth approximately $27,102,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock worth $2,230,014,000 after purchasing an additional 781,282 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James raised their price objective on EOG Resources from $148.00 to $158.00 and gave the company a “strong-buy” rating in a research note on Monday, June 2nd. KeyCorp dropped their price objective on EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Barclays raised their price objective on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. reduced their price objective on shares of 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, UBS Group reaffirmed a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and an average target price of $139.58.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources 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 completion of the transaction, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

EOG Resources Trading Up 0.5%

Shares of EOG stock opened at $120.55 on Friday. The company has a 50 day moving average of $111.58 and a 200-day moving average of $121.95. The company has a quick ratio of 2.07, a current ratio of 2.31 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. The firm has a market cap of $65.79 billion, a P/E ratio of 9.71, a PEG ratio of 3.58 and a beta of 0.74.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is currently 36.18%.

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.