Nuveen LLC Buys Shares of 3,523,924 EOG Resources, Inc. (NYSE:EOG)

Nuveen LLC bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,523,924 shares of the energy exploration company’s stock, valued at approximately $451,908,000. Nuveen LLC owned about 0.65% of EOG Resources at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its stake 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. Scotia Capital Inc. raised its stake in shares of EOG Resources by 4.4% in the 4th quarter. Scotia Capital Inc. now owns 19,736 shares of the energy exploration company’s stock valued at $2,419,000 after acquiring an additional 835 shares during the period. Townsquare Capital LLC raised its stake in shares of EOG Resources by 13.6% in the 4th quarter. Townsquare Capital LLC now owns 21,374 shares of the energy exploration company’s stock valued at $2,620,000 after acquiring an additional 2,563 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in shares of EOG Resources in the 4th quarter valued at approximately $627,000. Finally, Altman Advisors Inc. raised its stake in shares of EOG Resources by 1.9% in the 4th quarter. Altman Advisors Inc. now owns 13,199 shares of the energy exploration company’s stock valued at $1,618,000 after acquiring an additional 252 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

EOG Resources Trading Up 0.1%

NYSE EOG opened at $116.09 on Monday. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a market capitalization of $63.38 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 8.90 and a beta of 0.80. The firm has a 50 day moving average of $119.63 and a two-hundred day moving average of $119.76.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently announced 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 3.5%. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio (DPR) is currently 37.90%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EOG. Piper Sandler reduced their price target on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Susquehanna boosted their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. UBS Group reaffirmed a “buy” rating and set a $140.00 target price (up from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Roth Capital downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Finally, KeyCorp cut their target price on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Twelve investment 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 company. Based on data from MarketBeat, EOG Resources has an average rating of “Moderate Buy” and an average target price of $140.62.

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.