Monetta Financial Services Inc. Invests $1.31 Million in EOG Resources, Inc. (NYSE:EOG)

Monetta Financial Services Inc. bought a new position in EOG Resources, Inc. (NYSE:EOG – Get Rating) during the first quarter, Holdings Channel reports. The firm bought 11,000 shares of the energy exploration company’s stock, valued at approximately $1,312,000. EOG Resources makes up about 1.1% of Monetta Financial Services Inc.’s portfolio, making the stock its 19th biggest holding.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in EOG Resources by 4.9% during the fourth quarter. BlackRock Inc. now owns 46,118,313 shares of the energy exploration company’s stock worth $4,096,689,000 after purchasing an additional 2,140,573 shares in the last quarter. State Street Corp boosted its position in EOG Resources by 2.0% during the fourth quarter. State Street Corp now owns 36,245,826 shares of the energy exploration company’s stock worth $3,219,717,000 after purchasing an additional 709,647 shares in the last quarter. Geode Capital Management LLC boosted its position in EOG Resources by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 10,346,154 shares of the energy exploration company’s stock worth $917,640,000 after purchasing an additional 312,449 shares in the last quarter. Northern Trust Corp boosted its position in EOG Resources by 0.5% during the fourth quarter. Northern Trust Corp now owns 7,013,009 shares of the energy exploration company’s stock worth $622,966,000 after purchasing an additional 31,590 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in EOG Resources by 12.6% during the fourth quarter. Alliancebernstein L.P. now owns 6,404,470 shares of the energy exploration company’s stock worth $568,909,000 after purchasing an additional 715,705 shares in the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

EOG Resources Trading Up 7.2 %

EOG Resources stock traded up $7.19 during mid-day trading on Friday, hitting $107.01. The company’s stock had a trading volume of 5,736,710 shares, compared to its average volume of 3,829,693. EOG Resources, Inc. has a 1 year low of $62.81 and a 1 year high of $147.99. The stock’s fifty day moving average is $115.20 and its two-hundred day moving average is $116.81. The firm has a market capitalization of $62.68 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.21 and a beta of 1.61. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.18.

EOG Resources (NYSE:EOG – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The energy exploration company reported $2.74 EPS for the quarter, missing the consensus estimate of $4.25 by ($1.51). EOG Resources had a return on equity of 32.21% and a net margin of 25.71%. The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was up 79.0% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 15.63 EPS for the current year.

EOG Resources Increases Dividend

The company also recently declared a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.50 per share. This is a positive change from EOG Resources’s previous special dividend of $1.00. The ex-dividend date of this dividend is Wednesday, September 14th. EOG Resources’s dividend payout ratio (DPR) is currently 30.77%.

Insider Transactions at EOG Resources

In related news, EVP Kenneth W. Boedeker sold 1,006 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $142.32, for a total transaction of $143,173.92. Following the completion of the transaction, the executive vice president now directly owns 16,880 shares of the company’s stock, valued at approximately $2,402,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kenneth W. Boedeker sold 1,006 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $142.32, for a total transaction of $143,173.92. Following the sale, the executive vice president now directly owns 16,880 shares in the company, valued at $2,402,361.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy K. Driggers sold 3,484 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $135.51, for a total transaction of $472,116.84. Following the sale, the chief financial officer now owns 214,691 shares in the company, valued at $29,092,777.41. The disclosure for this sale can be found here. Insiders sold a total of 6,395 shares of company stock worth $883,134 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on EOG Resources from $152.00 to $151.00 and set an “equal weight” rating for the company in a report on Tuesday, July 19th. Johnson Rice raised EOG Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $155.00 to $165.00 in a report on Tuesday, May 24th. Piper Sandler reduced their target price on EOG Resources from $164.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. Royal Bank of Canada cut EOG Resources from an “outperform” rating to a “sector perform” rating and set a $150.00 target price for the company. in a report on Wednesday, July 6th. Finally, Bank of America raised EOG Resources from a “neutral” rating to a “buy” rating and reduced their target price for the company from $146.00 to $119.00 in a report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.05.

EOG Resources Profile

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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.