Miracle Mile Advisors LLC Raises Position in EOG Resources, Inc. (NYSE:EOG)

Miracle Mile Advisors LLC lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 37.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,663 shares of the energy exploration company’s stock after acquiring an additional 2,376 shares during the quarter. Miracle Mile Advisors LLC’s holdings in EOG Resources were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EOG. Everpar Advisors LLC boosted its position in shares of EOG Resources by 3.6% in the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after purchasing an additional 83 shares during the period. Diversified Trust Co lifted its stake in EOG Resources by 60.1% in the third quarter. Diversified Trust Co now owns 9,573 shares of the energy exploration company’s stock valued at $1,177,000 after buying an additional 3,595 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of EOG Resources by 19.6% in the third quarter. GAMMA Investing LLC now owns 8,015 shares of the energy exploration company’s stock valued at $985,000 after acquiring an additional 1,316 shares during the period. Cullen Investment Group LTD. grew its position in shares of EOG Resources by 5.9% during the third quarter. Cullen Investment Group LTD. now owns 2,033 shares of the energy exploration company’s stock worth $250,000 after acquiring an additional 114 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in shares of EOG Resources by 2.5% in the 3rd quarter. Rockland Trust Co. now owns 216,347 shares of the energy exploration company’s stock valued at $26,596,000 after acquiring an additional 5,197 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE:EOG opened at $130.37 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The firm has a market cap of $74.93 billion, a PE ratio of 10.30, a P/E/G ratio of 3.27 and a beta of 1.28. The firm has a 50 day simple moving average of $125.34 and a 200-day simple moving average of $126.99. EOG Resources, Inc. has a 1-year low of $108.94 and a 1-year high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. During the same period in the previous year, the firm posted $2.49 EPS. EOG Resources’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that EOG Resources, Inc. will post 11.91 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Analysts Set New Price Targets

EOG has been the subject of a number of research reports. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. 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 research note on Monday, September 16th. Wolfe Research began coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America reissued a “buy” rating and issued a $151.00 price objective on shares of EOG Resources in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their target price 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. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average price target of $142.15.

Insider Buying and Selling at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s 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 completion of the sale, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $2,751,612 in the last 90 days. 0.30% of the stock is owned by company 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.