Alhambra Investment Management LLC Acquires 586 Shares of EOG Resources, Inc. (NYSE:EOG)

Alhambra Investment Management LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 20.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,447 shares of the energy exploration company’s stock after purchasing an additional 586 shares during the period. Alhambra Investment Management LLC’s holdings in EOG Resources were worth $442,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of EOG Resources during the fourth quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in shares of EOG Resources during the fourth quarter valued at $28,000. Heritage Wealth Advisors lifted its stake in shares of EOG Resources by 562.2% during the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock valued at $30,000 after acquiring an additional 208 shares during the period. Sierra Ocean LLC acquired a new position in shares of EOG Resources during the fourth quarter valued at $32,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of EOG Resources by 643.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 290 shares of the energy exploration company’s stock valued at $36,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction that occurred on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EOG shares. Barclays upped their price target on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. UBS Group reaffirmed a “buy” rating and set a $140.00 price target (up previously from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. cut their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Raymond James increased their target price on EOG Resources from $148.00 to $158.00 and gave the company a “strong-buy” rating in a research note on Monday, June 2nd. Finally, Citigroup cut their target price on EOG Resources from $134.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.58.

EOG Resources Stock Up 3.1%

Shares of EOG Resources stock opened at $117.83 on Wednesday. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The business has a 50-day moving average of $111.15 and a two-hundred day moving average of $122.05. The company has a market capitalization of $64.31 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current 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 given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is currently 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.