E&G Advisors LP Grows Holdings in EOG Resources, Inc. (NYSE:EOG)

E&G Advisors LP raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,775 shares of the energy exploration company’s stock after purchasing an additional 126 shares during the quarter. E&G Advisors LP’s holdings in EOG Resources were worth $739,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in EOG. Monument Capital Management acquired a new stake in EOG Resources during the 1st quarter worth approximately $220,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of EOG Resources by 0.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,491,898 shares of the energy exploration company’s stock worth $190,724,000 after purchasing an additional 9,894 shares during the period. Woodmont Investment Counsel LLC purchased a new position in EOG Resources in the 1st quarter valued at $409,000. Allspring Global Investments Holdings LLC increased its stake in EOG Resources by 7.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,752,289 shares of the energy exploration company’s stock valued at $351,853,000 after buying an additional 199,776 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in EOG Resources by 44.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,687 shares of the energy exploration company’s stock worth $471,000 after buying an additional 1,128 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 7,802 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the transaction, the chief operating officer now directly owns 39,054 shares in the company, valued at $5,079,753.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of EOG Resources stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the transaction, the chief executive officer now owns 150,474 shares in the company, valued at approximately $19,457,792.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the sale, the chief operating officer now directly owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The disclosure for this sale can be found here. Insiders have sold 16,512 shares of company stock worth $2,144,972 over the last quarter. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and issued a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Truist Financial downgraded EOG Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $163.00 to $136.00 in a research note on Thursday, May 16th. Morgan Stanley lifted their price target on EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a research report on Thursday, March 28th. Finally, TD Cowen boosted their target price on shares of EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.19.

EOG Resources Price Performance

EOG Resources stock traded up $0.13 during midday trading on Wednesday, reaching $126.78. 1,814,107 shares of the company were exchanged, compared to its average volume of 3,261,107. The firm’s 50-day simple moving average is $125.96 and its 200-day simple moving average is $122.53. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The company has a market capitalization of $72.86 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.70 by $0.12. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share. On average, analysts anticipate that EOG Resources, Inc. will post 12.06 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, July 17th. EOG Resources’s dividend payout ratio is presently 28.75%.

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.