BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in EOG Resources, Inc. (NYSE:EOG) by 59.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,085 shares of the energy exploration company’s stock after buying an additional 41,242 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EOG Resources were worth $13,982,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Artisan Partners Limited Partnership boosted its stake in shares of EOG Resources by 2.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 991,055 shares of the energy exploration company’s stock worth $119,868,000 after acquiring an additional 22,638 shares during the last quarter. DRW Securities LLC grew its stake in shares of EOG Resources by 871.7% in the fourth quarter. DRW Securities LLC now owns 20,891 shares of the energy exploration company’s stock worth $2,527,000 after acquiring an additional 18,741 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in shares of EOG Resources by 228.4% during the first quarter. UniSuper Management Pty Ltd now owns 15,626 shares of the energy exploration company’s stock worth $1,998,000 after buying an additional 10,868 shares during the period. Bryn Mawr Capital Management LLC acquired a new stake in EOG Resources in the first quarter valued at $1,217,000. Finally, Processus Wealth & Capital Management LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $1,570,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EOG. Wolfe Research started coverage on shares of EOG Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Susquehanna lowered their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Sanford C. Bernstein cut their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Finally, KeyCorp started coverage on shares of EOG Resources in a report on Thursday, June 27th. They set an “overweight” rating and a $157.00 price target for the company. Fourteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.89.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $127.95 on Wednesday. The business has a fifty day simple moving average of $125.48 and a 200 day simple moving average of $126.76. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a market cap of $73.53 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. EOG Resources’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 EPS. As a group, sell-side analysts predict that EOG Resources, Inc. will post 12.2 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 over the last three months. 0.30% of the stock is currently owned by insiders.

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.