Cassia Capital Partners LLC Increases Position in EOG Resources, Inc. (NYSE:EOG)

Cassia Capital Partners LLC grew its stake in EOG Resources, Inc. (NYSE:EOG) by 57.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,467 shares of the energy exploration company’s stock after acquiring an additional 2,717 shares during the quarter. Cassia Capital Partners LLC’s holdings in EOG Resources were worth $958,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EOG. Bank Pictet & Cie Europe AG increased its holdings in shares of EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company’s stock valued at $30,449,000 after acquiring an additional 89,521 shares during the period. Kestra Investment Management LLC purchased a new position in shares of EOG Resources in the 4th quarter valued at $67,000. Global Retirement Partners LLC grew its stake in EOG Resources by 33.1% during the 4th quarter. Global Retirement Partners LLC now owns 3,869 shares of the energy exploration company’s stock worth $474,000 after buying an additional 962 shares during the last quarter. Ieq Capital LLC grew its stake in EOG Resources by 44.4% during the 4th quarter. Ieq Capital LLC now owns 35,580 shares of the energy exploration company’s stock worth $4,361,000 after buying an additional 10,946 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in EOG Resources by 8.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 7,703 shares of the energy exploration company’s stock worth $944,000 after buying an additional 600 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EOG has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Raymond James Financial boosted their target price on EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 2nd. Bank of America dropped their target price on EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Williams Trading set a $154.00 target price on EOG Resources in a research note on Wednesday, March 5th. Finally, Barclays boosted their target price on EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Twelve research 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. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.48.

EOG Resources Stock Up 1.3%

EOG Resources stock opened at $125.40 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. The business’s 50-day simple moving average is $113.49 and its two-hundred day simple moving average is $121.56. The company has a market cap of $68.44 billion, a PE ratio of 11.63, a PEG ratio of 10.24 and a beta of 0.74. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. Equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, October 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s payout ratio is 36.18%.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

EOG Resources Profile

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.