Torno Capital LLC Purchases New Stake in EOG Resources, Inc. (NYSE:EOG)

Torno Capital LLC acquired a new position in EOG Resources, Inc. (NYSE:EOG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,800 shares of the energy exploration company’s stock, valued at approximately $1,234,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of EOG Resources by 59.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,085 shares of the energy exploration company’s stock valued at $13,982,000 after acquiring an additional 41,242 shares during the period. Kamunting Street Capital Management L.P. purchased a new position in EOG Resources in the 2nd quarter valued at approximately $1,259,000. Resources Management Corp CT ADV raised its holdings in EOG Resources by 1.1% during the second quarter. Resources Management Corp CT ADV now owns 17,524 shares of the energy exploration company’s stock worth $2,206,000 after purchasing an additional 190 shares during the last quarter. Evergreen Capital Management LLC boosted its position in EOG Resources by 2.1% during the second quarter. Evergreen Capital Management LLC now owns 28,017 shares of the energy exploration company’s stock worth $3,526,000 after purchasing an additional 584 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in EOG Resources in the second quarter valued at $1,710,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $127.74 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm has a market capitalization of $73.41 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67. The company has a 50 day moving average price of $125.55 and a 200 day moving average price of $126.70.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data 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. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 EPS. Sell-side analysts anticipate that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.85%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Susquehanna cut their price target on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Truist Financial reduced their price target on shares of EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. UBS Group cut their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Morgan Stanley lowered their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Fourteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and an average price target of $142.89.

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.