CIBC Bancorp USA Inc. Takes Position in EOG Resources, Inc. $EOG

CIBC Bancorp USA Inc. acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 75,320 shares of the energy exploration company’s stock, valued at approximately $8,445,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JCIC Asset Management Inc. bought a new position in shares of EOG Resources during the third quarter valued at $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EOG Resources in the 2nd quarter worth about $35,000. Salomon & Ludwin LLC increased its position in shares of EOG Resources by 122.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 323 shares of the energy exploration company’s stock worth $36,000 after purchasing an additional 178 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of EOG Resources during the 3rd quarter worth about $37,000. Finally, Quent Capital LLC bought a new position in EOG Resources during the 3rd quarter valued at about $37,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $138.65 on Friday. The firm has a 50 day moving average of $119.64 and a 200-day moving average of $113.06. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $140.92. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $74.39 billion, a PE ratio of 15.22, a PEG ratio of 3.76 and a beta of 0.44.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, February 24th. The energy exploration company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.36 billion. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.74 EPS. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, April 16th. This represents a $4.08 annualized dividend and a yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is currently 44.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on EOG. JPMorgan Chase & Co. boosted their target price on EOG Resources from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Morgan Stanley set a $128.00 price target on EOG Resources and gave the company an “equal weight” rating in a report on Friday, January 23rd. Raymond James Financial lifted their price objective on EOG Resources from $153.00 to $157.00 and gave the company a “strong-buy” rating in a research report on Friday, February 13th. Mizuho boosted their price objective on EOG Resources from $134.00 to $146.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, KeyCorp cut EOG Resources from an “overweight” rating to a “sector weight” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $138.23.

Insider Buying and Selling

In other news, CFO Ann D. Janssen sold 2,597 shares of EOG Resources stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $134.31, for a total transaction of $348,803.07. Following the transaction, the chief financial officer owned 100,246 shares in the company, valued at approximately $13,464,040.26. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey R. Leitzell sold 2,000 shares of EOG Resources stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $130.00, for a total value of $260,000.00. Following the transaction, the chief operating officer directly owned 88,045 shares in the company, valued at $11,445,850. The trade was a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,371 shares of company stock worth $1,294,698 over the last three months. Insiders own 0.13% of the company’s stock.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.