Oppenheimer Asset Management Inc. Acquires Shares of 55,502 EOG Resources, Inc. $EOG

Oppenheimer Asset Management Inc. bought a new position in EOG Resources, Inc. (NYSE:EOG) during the second quarter, Holdings Channel.com reports. The fund bought 55,502 shares of the energy exploration company’s stock, valued at approximately $7,200,000.

A number of other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. increased its holdings in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Financial Life Planners purchased a new stake in shares of EOG Resources in the 1st quarter worth $30,000. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the 4th quarter worth $25,000. Prosperity Bancshares Inc bought a new position in shares of EOG Resources during the 4th quarter worth $26,000. Finally, Global Assets Advisory LLC bought a new position in shares of EOG Resources during the 1st quarter worth $37,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EOG. Mizuho set a $157.00 price target on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Susquehanna reaffirmed a “positive” rating and issued a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Sanford C. Bernstein dropped their target price on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a report on Wednesday, May 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of EOG Resources in a research report on Friday, August 7th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $156.21.

EOG Resources Trading Up 0.8%

Shares of NYSE:EOG opened at $142.55 on Friday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The business’s fifty day simple moving average is $137.57 and its 200-day simple moving average is $133.62. The company has a market capitalization of $74.77 billion, a PE ratio of 11.09 and a beta of 0.25. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.32 EPS. As a group, equities research analysts predict that EOG Resources, Inc. will post 16.43 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, October 16th. EOG Resources’s payout ratio is 31.75%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.