Balefire LLC Boosts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Balefire LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 24.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,566 shares of the energy exploration company’s stock after purchasing an additional 690 shares during the quarter. Balefire LLC’s holdings in EOG Resources were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EOG. Mainstream Capital Management LLC bought a new stake in EOG Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of EOG Resources during the 4th quarter worth approximately $28,000. Heritage Wealth Advisors raised its holdings in shares of EOG Resources by 562.2% in the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 208 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $34,000. Finally, Ameriflex Group Inc. purchased a new position in EOG Resources in the fourth quarter valued at approximately $36,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Down 0.7%

Shares of NYSE EOG opened at $119.89 on Thursday. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The business has a fifty day moving average price of $114.28 and a 200 day moving average price of $121.45. The stock has a market capitalization of $65.43 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 9.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71.

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

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.40%. EOG Resources’s payout ratio is presently 36.18%.

Insider Activity

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

Wall Street Analysts Forecast Growth

EOG has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company upped their price target on shares of EOG Resources from $146.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, June 16th. Stephens assumed coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an “equal weight” rating and a $137.00 price objective for the company. Barclays boosted their target price on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $145.00 price target on shares of EOG Resources in a report on Friday, June 20th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.48.

EOG Resources Company 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.