Dale Q Rice Investment Management Ltd Takes $382,000 Position in EOG Resources, Inc. (NYSE:EOG)

Dale Q Rice Investment Management Ltd bought a new position in EOG Resources, Inc. (NYSE:EOG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,980 shares of the energy exploration company’s stock, valued at approximately $382,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors lifted its stake in EOG Resources by 5.2% during 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 buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of EOG Resources by 4.5% during 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 acquiring an additional 781,282 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $1,541,282,000 after acquiring an additional 234,067 shares in the last quarter. Northern Trust Corp boosted its stake in 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 purchasing an additional 159,216 shares during the period. Finally, Alliancebernstein L.P. grew its position in EOG Resources by 6.9% during the 4th quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock worth $696,990,000 after purchasing an additional 365,115 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

EOG has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating and issued a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Citigroup reduced their price objective on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Williams Trading set a $154.00 target price on EOG Resources in a research note on Wednesday, March 5th. Mizuho dropped their target price on EOG Resources from $140.00 to $134.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Stephens initiated coverage on shares of EOG Resources in a report on Tuesday. They set an “equal weight” rating and a $137.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.48.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $125.40 on Friday. The business’s 50-day simple moving average is $113.49 and its 200-day simple moving average is $121.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market cap of $68.44 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 10.11 and a beta of 0.74.

EOG Resources (NYSE:EOG) last announced its 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. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, October 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is 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.