Raymond James Financial Inc. Raises Stock Position in EOG Resources, Inc. $EOG

Raymond James Financial Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,409,688 shares of the energy exploration company’s stock after buying an additional 13,102 shares during the quarter. Raymond James Financial Inc.’s holdings in EOG Resources were worth $180,778,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the first quarter valued at approximately $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources during the fourth quarter valued at approximately $36,000. 10Elms LLP bought a new position in shares of EOG Resources during the fourth quarter valued at approximately $44,000. Finally, Stone House Investment Management LLC bought a new position in shares of EOG Resources during the first quarter valued at approximately $48,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Down 0.6%

NYSE:EOG opened at $119.06 on Monday. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The firm has a fifty day simple moving average of $120.29 and a 200-day simple moving average of $119.33. 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 company has a market capitalization of $65.01 billion, a P/E ratio of 11.57, a PEG ratio of 9.15 and a beta of 0.80.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.4%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. EOG Resources’s dividend payout ratio is 37.90%.

Insider Activity

In related 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 transaction of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares of the company’s stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EOG. Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a research note on Sunday, June 22nd. Susquehanna increased their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Roth Capital downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Finally, Piper Sandler lowered their target price on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.71.

About EOG Resources

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.