EOG Resources, Inc. (NYSE:EOG) Shares Purchased by Arvest Investments Inc.

Arvest Investments Inc. lifted its position in EOG Resources, Inc. (NYSE:EOG) by 3.6% in the first quarter, Holdings Channel reports. The firm owned 13,905 shares of the energy exploration company’s stock after acquiring an additional 480 shares during the period. Arvest Investments Inc.’s holdings in EOG Resources were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $28,000. Heritage Wealth Advisors raised its holdings in shares of EOG Resources by 562.2% in the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock valued at $30,000 after buying an additional 208 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $32,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of EOG Resources in the fourth quarter valued at about $36,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EOG. Williams Trading set a $154.00 target price on shares of EOG Resources in a report on Wednesday, March 5th. Wall Street Zen cut shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Morgan Stanley set a $135.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. KeyCorp cut their price target on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Raymond James increased their price target on shares of EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a report on Monday, June 2nd. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.58.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

EOG Resources Trading Up 1.6%

Shares of EOG Resources stock opened at $119.80 on Thursday. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $65.39 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a 50-day moving average of $111.34 and a two-hundred day moving average of $122.03.

EOG Resources (NYSE:EOG) last issued its 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. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the company posted $2.82 earnings per share. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced 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 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 3.41%. EOG Resources’s dividend payout ratio (DPR) 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.