Allianz SE Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Allianz SE purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 21,508 shares of the energy exploration company’s stock, valued at approximately $2,593,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. Transamerica Financial Advisors Inc. boosted its position in EOG Resources by 9.3% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 6,604 shares of the energy exploration company’s stock worth $810,000 after purchasing an additional 564 shares during the last quarter. Allstate Corp bought a new position in shares of EOG Resources in the 4th quarter worth approximately $2,071,000. RiverFront Investment Group LLC boosted its holdings in shares of EOG Resources by 9.5% in the fourth quarter. RiverFront Investment Group LLC now owns 141,863 shares of the energy exploration company’s stock worth $17,390,000 after buying an additional 12,348 shares during the last quarter. Heartland Advisors Inc. grew its position in EOG Resources by 9.7% during the fourth quarter. Heartland Advisors Inc. now owns 117,237 shares of the energy exploration company’s stock valued at $14,371,000 after buying an additional 10,413 shares during the period. Finally, DnB Asset Management AS increased its holdings in EOG Resources by 2.1% during the fourth quarter. DnB Asset Management AS now owns 176,571 shares of the energy exploration company’s stock valued at $21,644,000 after buying an additional 3,570 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Raymond James upped their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Mizuho reissued a “neutral” rating and issued a $140.00 target price (down from $148.00) on shares of EOG Resources in a report on Tuesday, March 25th. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $144.67.

EOG Resources Price Performance

NYSE:EOG opened at $126.55 on Friday. The business’s 50-day moving average is $128.23 and its 200 day moving average is $127.71. EOG Resources, Inc. has a 12 month low of $115.78 and a 12 month high of $139.67. The company has a market capitalization of $70.10 billion, a P/E ratio of 10.19, a P/E/G ratio of 3.58 and a beta of 1.25. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. On average, equities research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a yield of 3.08%. EOG Resources’s dividend payout ratio (DPR) is currently 34.73%.

About EOG Resources

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.