Confluence Investment Management LLC Purchases New Shares in EOG Resources, Inc. (NYSE:EOG)

Confluence Investment Management LLC purchased a new stake in EOG Resources, Inc. (NYSE:EOG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 191,926 shares of the energy exploration company’s stock, valued at approximately $24,536,000.

A number of other institutional investors have also made changes to their positions in the business. McIlrath & Eck LLC increased its position in EOG Resources by 77.6% in the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 104 shares during the period. Exchange Traded Concepts LLC increased its position in EOG Resources by 530.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 212 shares during the period. Sachetta LLC acquired a new stake in EOG Resources in the fourth quarter worth about $33,000. Hall Laurie J Trustee acquired a new stake in EOG Resources in the fourth quarter worth about $36,000. Finally, Keener Financial Planning LLC acquired a new position in shares of EOG Resources during the 4th quarter worth about $36,000. 89.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EOG. KeyCorp boosted their target price on EOG Resources from $147.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Barclays began coverage on EOG Resources in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 price objective for the company. Stifel Nicolaus decreased their price objective on EOG Resources from $153.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a research report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and an average price target of $143.19.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the sale, the executive vice president now owns 109,040 shares in the company, valued at approximately $14,206,821.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total transaction of $168,829.92. Following the sale, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the sale, the executive vice president now directly owns 109,040 shares in the company, valued at $14,206,821.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,512 shares of company stock worth $2,144,972. Company insiders own 0.20% of the company’s stock.

EOG Resources Stock Up 0.2 %

Shares of EOG Resources stock traded up $0.24 on Tuesday, reaching $119.32. 590,771 shares of the company were exchanged, compared to its average volume of 3,273,315. EOG Resources, Inc. has a one year low of $106.34 and a one year high of $139.67. The company has a market capitalization of $68.57 billion, a price-to-earnings ratio of 9.45 and a beta of 1.32. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $128.30 and a 200 day moving average of $122.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business earned $2.69 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that EOG Resources, Inc. will post 12.14 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

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.