Bank of Nova Scotia Increases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Bank of Nova Scotia raised its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 743.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 616,172 shares of the energy exploration company's stock after buying an additional 543,082 shares during the quarter. Bank of Nova Scotia owned about 0.11% of EOG Resources worth $75,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Shelton Capital Management lifted its stake in EOG Resources by 28.8% in the 4th quarter. Shelton Capital Management now owns 4,472 shares of the energy exploration company's stock worth $548,000 after purchasing an additional 1,000 shares in the last quarter. Twin Capital Management Inc. raised its position in shares of EOG Resources by 25.6% in the fourth quarter. Twin Capital Management Inc. now owns 36,653 shares of the energy exploration company's stock worth $4,493,000 after buying an additional 7,465 shares in the last quarter. Invesco Ltd. boosted its stake in EOG Resources by 5.3% during the fourth quarter. Invesco Ltd. now owns 4,409,619 shares of the energy exploration company's stock valued at $540,531,000 after buying an additional 222,188 shares during the period. Cerity Partners LLC boosted its stake in EOG Resources by 6.4% during the fourth quarter. Cerity Partners LLC now owns 121,719 shares of the energy exploration company's stock valued at $14,928,000 after buying an additional 7,288 shares during the period. Finally, Trek Financial LLC purchased a new position in EOG Resources during the fourth quarter worth about $211,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total value 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 $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EOG. UBS Group dropped their price target on EOG Resources from $165.00 to $160.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. StockNews.com lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Williams Trading set a $154.00 price target on shares of EOG Resources in a research note on Wednesday, March 5th. Citigroup lowered their price objective on shares of EOG Resources from $134.00 to $125.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Scotiabank upgraded shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and cut their target price for the stock from $150.00 to $130.00 in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.19.

EOG Resources Trading Down 1.4 %

Shares of NYSE EOG traded down $1.51 during mid-day trading on Monday, hitting $107.03. The stock had a trading volume of 979,142 shares, compared to its average volume of 3,676,837. The firm has a market cap of $59.03 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 3.58 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The business has a 50 day moving average price of $124.28 and a two-hundred day moving average price of $127.02. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.64%. EOG Resources's dividend payout ratio is 34.73%.

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.