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

Arrowstreet Capital Limited Partnership increased its holdings in EOG Resources, Inc. (NYSE:EOG) by 898.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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’s holdings in EOG Resources were worth $205,411,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EOG. Oak Associates Ltd. OH purchased a new position in shares of EOG Resources in the first quarter valued at $6,808,000. Sei Investments Co. raised its stake in shares of EOG Resources by 23.5% during the first quarter. Sei Investments Co. now owns 614,370 shares of the energy exploration company’s stock valued at $88,819,000 after acquiring an additional 116,989 shares during the last quarter. Davis R M Inc. bought a new position in EOG Resources in the 1st quarter worth $288,000. Ascension Capital Advisors Inc. boosted its position in shares of EOG Resources by 15.9% during the first quarter. Ascension Capital Advisors Inc. now owns 3,377 shares of the energy exploration company’s stock valued at $488,000 after purchasing an additional 463 shares in the last quarter. Finally, NewEdge Wealth LLC increased its stake in shares of EOG Resources by 9.0% during the first quarter. NewEdge Wealth LLC now owns 395,923 shares of the energy exploration company’s stock valued at $57,239,000 after purchasing an additional 32,607 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EOG has been the topic of several analyst reports. Raymond James Financial dropped their target price on shares of EOG Resources from $186.00 to $176.00 and set a “strong-buy” rating on the stock in a research note on Monday, June 22nd. Capital One Financial dropped their price target on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. BMO Capital Markets boosted their price target on EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.32.

EOG Resources Trading Up 0.8%

NYSE:EOG opened at $146.62 on Friday. The company has a market capitalization of $78.09 billion, a P/E ratio of 14.43 and a beta of 0.25. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The firm has a fifty day simple moving average of $136.76 and a 200-day simple moving average of $129.90.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the business posted $2.87 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that EOG Resources, Inc. will post 16.19 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is currently 40.16%.

EOG Resources Profile

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.