Hanson & Doremus Investment Management Invests $51,000 in EOG Resources, Inc. (NYSE:EOG)

Hanson & Doremus Investment Management bought a new position in EOG Resources, Inc. (NYSE:EOG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 400 shares of the energy exploration company’s stock, valued at approximately $51,000.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in shares of EOG Resources by 5.2% in the 4th quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EOG Resources by 4.5% in 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 acquiring an additional 781,282 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EOG Resources by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock worth $1,541,282,000 after acquiring an additional 234,067 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of EOG Resources by 2.9% in the 4th quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock worth $701,036,000 after acquiring an additional 159,216 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of EOG Resources by 6.9% in the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after acquiring an additional 365,115 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 1.7%

Shares of EOG Resources stock opened at $123.20 on Tuesday. The firm’s 50 day moving average price is $112.36 and its 200-day moving average price is $121.68. 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 52-week low of $102.52 and a 52-week high of $138.18. The company has a market cap of $67.24 billion, a P/E ratio of 9.92, a PEG ratio of 3.58 and a beta of 0.74.

EOG Resources (NYSE:EOG) last issued 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 29.18% and a return on equity of 23.77%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s payout ratio is currently 36.18%.

Insiders Place Their Bets

In other EOG Resources 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 directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

EOG has been the subject of several analyst reports. Citigroup lowered their target price on shares of EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Jefferies Financial Group reiterated a “buy” rating and set a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a report on Friday. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the company an “equal weight” rating in a report on Monday, June 2nd. Raymond James lifted their price objective on shares of EOG Resources from $148.00 to $158.00 and gave the company a “strong-buy” rating in a report on Monday, June 2nd. Finally, Piper Sandler cut their target price on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.10.

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.