Seven Eight Capital LP Purchases 2,313 Shares of EOG Resources, Inc. (NYSE:EOG)

Seven Eight Capital LP boosted its position in shares of EOG Resources, Inc. (NYSE:EOG) by 87.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,949 shares of the energy exploration company’s stock after buying an additional 2,313 shares during the period. Seven Eight Capital LP’s holdings in EOG Resources were worth $623,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EOG. Mondrian Investment Partners LTD grew its position in EOG Resources by 6.1% in the second quarter. Mondrian Investment Partners LTD now owns 6,898 shares of the energy exploration company’s stock worth $875,000 after acquiring an additional 394 shares in the last quarter. Zega Financial LLC purchased a new stake in EOG Resources in the second quarter worth $672,000. O Brien Greene & Co. Inc lifted its holdings in EOG Resources by 1.4% during the 2nd quarter. O Brien Greene & Co. Inc now owns 86,345 shares of the energy exploration company’s stock valued at $10,868,000 after buying an additional 1,187 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of EOG Resources by 18.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,737 shares of the energy exploration company’s stock valued at $5,626,000 after acquiring an additional 7,011 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of EOG Resources by 6.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 86,404 shares of the energy exploration company’s stock worth $10,876,000 after buying an additional 5,207 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EOG shares. Scotiabank cut their target price on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein cut their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley decreased their target price on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group lowered their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Piper Sandler dropped their price target on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Fourteen research 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $142.89.

EOG Resources Stock Up 0.7 %

EOG stock opened at $126.03 on Friday. EOG Resources, Inc. has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a 50 day moving average of $125.65 and a two-hundred day moving average of $126.56. 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 company has a market cap of $72.43 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.49 earnings per share. On average, equities analysts anticipate that EOG Resources, Inc. will post 12.2 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 Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is 28.75%.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, 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 completion of the transaction, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $1,429,291.50. Following the transaction, 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. Insiders sold 21,537 shares of company stock worth $2,751,612 in the last quarter. 0.30% of the stock is owned by corporate insiders.

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.