Arrowstreet Capital Limited Partnership Buys 1,278,555 Shares of EOG Resources, Inc. $EOG

Arrowstreet Capital Limited Partnership raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 898.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,420,839 shares of the energy exploration company’s stock after acquiring an additional 1,278,555 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.27% of EOG Resources worth $205,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after buying an additional 1,257,110 shares in the last quarter. First Trust Advisors LP lifted its position in EOG Resources by 70.5% during the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock valued at $312,711,000 after purchasing an additional 1,231,366 shares during the period. Marshall Wace LLP grew its stake in shares of EOG Resources by 474.7% during the fourth quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock worth $138,430,000 after purchasing an additional 1,088,867 shares during the period. Bank of New York Mellon Corp raised its stake in EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock worth $490,394,000 after buying an additional 901,897 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in EOG Resources during the 3rd quarter worth approximately $87,193,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 0.8%

NYSE EOG opened at $146.62 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87. The business’s fifty day moving average is $136.76 and its 200 day moving average is $129.90. The company has a market cap of $78.09 billion, a price-to-earnings ratio of 14.43 and a beta of 0.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.87 earnings per share. As a group, sell-side analysts expect that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio is presently 40.16%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EOG. Wells Fargo & Company set a $196.00 target price on shares of EOG Resources and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Raymond James Financial reduced their price objective on EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating for the company in a research report on Monday, June 22nd. The Goldman Sachs Group dropped their target price on EOG Resources from $139.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. UBS Group reduced their target price on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Finally, Scotiabank increased their price objective on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and a consensus target price of $155.32.

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.