CX Institutional Raises Stock Position in EOG Resources, Inc. $EOG

CX Institutional lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1,075.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,775 shares of the energy exploration company’s stock after buying an additional 53,774 shares during the period. CX Institutional’s holdings in EOG Resources were worth $8,097,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EOG. BlackRock Inc. acquired a new position in EOG Resources during the second quarter valued at approximately $5,905,587,000. Dimensional Fund Advisors LP increased its position in shares of EOG Resources by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after purchasing an additional 54,091 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of EOG Resources by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock worth $712,583,000 after purchasing an additional 259,015 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of EOG Resources by 24.2% during the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $551,321,000. Institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 9,039 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the sale, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,317 shares of company stock worth $7,823,480. Company insiders own 0.14% of the company’s stock.

EOG Resources Stock Performance

EOG traded up $0.12 on Friday, reaching $141.44. The company had a trading volume of 3,599,365 shares, compared to its average volume of 4,115,231. The stock has a market cap of $74.19 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.51 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $154.16. The company’s fifty day moving average is $144.42 and its 200 day moving average is $139.65.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.32 earnings per share. As a group, analysts predict that EOG Resources, Inc. will post 16.85 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.

Analysts Set New Price Targets

Several research firms recently weighed in on EOG. The Goldman Sachs Group reissued a “neutral” rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research note on Monday, August 24th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Wells Fargo & Company reissued an “overweight” rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Finally, Truist Financial raised their target price on shares of EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.37.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. The company focuses on large-scale, onshore assets and applies drilling, completion and other technologies to develop unconventional oil and natural gas resources.

EOG’s principal operations are located in the United States, including the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas and the Rocky Mountain region.