Lazard Freres Gestion S.A.S. Acquires 869 Shares of EOG Resources, Inc. (NYSE:EOG)

Lazard Freres Gestion S.A.S. boosted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,301 shares of the energy exploration company’s stock after acquiring an additional 869 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in EOG Resources were worth $26,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in shares of EOG Resources in the 1st quarter worth $34,000. Ameriflex Group Inc. bought a new stake in shares of EOG Resources in the fourth quarter worth $36,000. 10Elms LLP bought a new stake in shares of EOG Resources in the fourth quarter worth $44,000. Hanson & Doremus Investment Management bought a new stake in shares of EOG Resources in the first quarter worth $51,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of EOG Resources by 204.4% in the first quarter. Golden State Wealth Management LLC now owns 411 shares of the energy exploration company’s stock worth $53,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 0.6%

EOG stock opened at $118.38 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market cap of $64.61 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 9.10 and a beta of 0.76. The business’s 50-day moving average is $118.08 and its 200 day moving average is $120.93.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 earnings per share. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.45%. EOG Resources’s dividend payout ratio is currently 37.85%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on EOG. Raymond James Financial boosted their price target on EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 22nd. Susquehanna boosted their price target on EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. KeyCorp cut their price target on EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Roth Capital downgraded EOG Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, EOG Resources has an average rating of “Moderate Buy” and an average price target of $140.62.

About EOG Resources

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.