EOG Resources, Inc. (NYSE:EOG) Shares Sold by StrongBox Wealth LLC

StrongBox Wealth LLC lowered its position in shares of EOG Resources, Inc. (NYSE:EOGGet Rating) by 4.5% during the second quarter, Holdings Channel reports. The fund owned 22,808 shares of the energy exploration company’s stock after selling 1,078 shares during the quarter. EOG Resources makes up approximately 1.6% of StrongBox Wealth LLC’s investment portfolio, making the stock its 20th biggest position. StrongBox Wealth LLC’s holdings in EOG Resources were worth $2,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EOG. People s United Financial Inc. purchased a new position in shares of EOG Resources in the 4th quarter valued at $1,080,000. Hilltop Holdings Inc. acquired a new position in shares of EOG Resources in the 4th quarter valued at about $266,000. GSA Capital Partners LLP acquired a new position in EOG Resources during the 4th quarter valued at about $250,000. Summit Global Investments boosted its stake in EOG Resources by 0.9% during the 4th quarter. Summit Global Investments now owns 25,018 shares of the energy exploration company’s stock valued at $2,222,000 after purchasing an additional 218 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in EOG Resources during the 4th quarter valued at about $265,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

EOG Resources Stock Down 7.3 %

Shares of EOG traded down $8.63 during mid-day trading on Friday, reaching $109.72. The company’s stock had a trading volume of 110,465 shares, compared to its average volume of 2,937,574. The company has a market cap of $64.30 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.25 and a beta of 1.55. The business has a fifty day moving average of $114.44 and a 200 day moving average of $118.62. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. EOG Resources, Inc. has a 1 year low of $74.48 and a 1 year high of $147.99.

EOG Resources (NYSE:EOGGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($1.51). EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The firm’s revenue was up 79.0% on a year-over-year basis. As a group, analysts forecast that EOG Resources, Inc. will post 15.61 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $1.50 per share. This is a boost from EOG Resources’s previous special dividend of $1.00. The ex-dividend date is Wednesday, September 14th. EOG Resources’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Ratings Changes

EOG has been the subject of a number of analyst reports. Piper Sandler reduced their target price on shares of EOG Resources from $164.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Bank of America raised their price objective on shares of EOG Resources from $119.00 to $134.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial cut their target price on EOG Resources from $182.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Citigroup lifted their price target on EOG Resources from $130.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, MKM Partners upped their price objective on EOG Resources from $122.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 26th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.85.

About EOG Resources

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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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