EOG Resources, Inc. (NYSE:EOG) Position Boosted by Nexus Investment Management ULC

Nexus Investment Management ULC increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 5.2% during the first quarter, Holdings Channel reports. The firm owned 206,758 shares of the energy exploration company’s stock after purchasing an additional 10,160 shares during the period. EOG Resources makes up 4.0% of Nexus Investment Management ULC’s portfolio, making the stock its 13th largest holding. Nexus Investment Management ULC’s holdings in EOG Resources were worth $26,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Essex Financial Services Inc. boosted its stake in EOG Resources by 1.3% in the 4th quarter. Essex Financial Services Inc. now owns 6,145 shares of the energy exploration company’s stock valued at $753,000 after buying an additional 79 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of EOG Resources by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 3,140 shares of the energy exploration company’s stock worth $385,000 after buying an additional 79 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in EOG Resources by 8.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company’s stock valued at $121,000 after purchasing an additional 80 shares during the last quarter. 1ST Source Bank lifted its position in EOG Resources by 1.5% during the 4th quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company’s stock worth $656,000 after buying an additional 80 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. grew its holdings in EOG Resources by 2.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company’s stock worth $498,000 after acquiring an additional 80 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares in the company, valued at approximately $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EOG has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of EOG Resources from $140.00 to $137.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Mizuho lowered their price target on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Bank of America lowered their target price on EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Finally, Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $139.79.

EOG Resources Trading Down 0.6%

NYSE EOG opened at $109.82 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a market capitalization of $59.94 billion, a PE ratio of 8.84, a P/E/G ratio of 3.58 and a beta of 0.78. The stock has a 50-day simple moving average of $113.49 and a 200 day simple moving average of $123.39.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. Research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, July 17th. EOG Resources’s payout ratio is 36.18%.

EOG Resources Company 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.