Brooklyn Investment Group Increases Stake in EOG Resources, Inc. $EOG

Brooklyn Investment Group increased its position in EOG Resources, Inc. (NYSE:EOG) by 32.5% in the 1st quarter, HoldingsChannel reports. The fund owned 5,112 shares of the energy exploration company’s stock after purchasing an additional 1,254 shares during the period. Brooklyn Investment Group’s holdings in EOG Resources were worth $656,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in EOG. Banque Cantonale Vaudoise purchased a new stake in EOG Resources in the 1st quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in EOG Resources in the 1st quarter worth about $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources in the 4th quarter worth about $36,000. 10Elms LLP purchased a new stake in EOG Resources in the 4th quarter worth about $44,000. Finally, Stone House Investment Management LLC purchased a new stake in EOG Resources in the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE:EOG opened at $117.60 on Tuesday. The business has a 50 day moving average of $120.36 and a 200 day moving average of $119.27. The company has a market capitalization of $64.21 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 9.15 and a beta of 0.80. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.5%. EOG Resources’s dividend payout ratio is presently 39.65%.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent analyst reports. Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Royal Bank Of Canada reduced their target price on EOG Resources from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. Barclays lifted their target price on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, June 2nd. Finally, Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

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.