Berkshire Asset Management LLC PA Has $33.91 Million Position in EOG Resources, Inc. $EOG

Berkshire Asset Management LLC PA lifted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 41.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,404 shares of the energy exploration company’s stock after purchasing an additional 77,635 shares during the period. EOG Resources accounts for 1.6% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 29th largest holding. Berkshire Asset Management LLC PA’s holdings in EOG Resources were worth $33,907,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in EOG Resources during the 1st quarter worth $26,000. Alpine Bank Wealth Management bought a new position in EOG Resources during the first quarter worth about $34,000. Ameriflex Group Inc. acquired a new stake in EOG Resources in the 4th quarter worth about $36,000. 10Elms LLP acquired a new stake in EOG Resources in the 4th quarter worth about $44,000. Finally, Stone House Investment Management LLC bought a new stake in shares of EOG Resources during the 1st quarter worth approximately $48,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, June 2nd. Royal Bank Of Canada cut their price target on shares of EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company reissued an “overweight” rating on shares of EOG Resources in a research note on Sunday, June 22nd. Roth Capital downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Finally, Raymond James Financial increased their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 22nd. Twelve 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

EOG Resources Trading Down 1.2%

NYSE:EOG opened at $117.60 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $64.21 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 9.15 and a beta of 0.80. The firm has a fifty day simple moving average of $120.36 and a two-hundred day simple moving average of $119.27. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. Analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.5%. EOG Resources’s dividend payout ratio is 39.65%.

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.