Ieq Capital LLC Boosts Stake in EOG Resources, Inc. (NYSE:EOG)

Ieq Capital LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,844 shares of the energy exploration company’s stock after purchasing an additional 1,915 shares during the quarter. Ieq Capital LLC’s holdings in EOG Resources were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of EOG Resources by 0.3% during the first quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after acquiring an additional 146,674 shares during the last quarter. Capital Research Global Investors increased its holdings in EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after purchasing an additional 373,365 shares during the last quarter. Capital World Investors raised its position in EOG Resources by 5.4% in the first quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the period. Capital International Investors lifted its stake in EOG Resources by 7.1% during the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of EOG Resources by 26.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock worth $598,475,000 after buying an additional 1,029,727 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The disclosure for this sale can be found here. In the last three months, insiders sold 21,537 shares of company stock valued at $2,751,612. Insiders own 0.30% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG opened at $126.03 on Friday. The company has a market capitalization of $72.43 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $125.65 and a 200 day moving average price of $126.56.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that EOG Resources, Inc. will post 12.2 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EOG shares. Susquehanna cut their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. UBS Group dropped their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler reduced their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Scotiabank dropped their price target on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus target price of $142.89.

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.