Pallas Capital Advisors LLC Takes Position in EOG Resources, Inc. $EOG

Pallas Capital Advisors LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,504 shares of the energy exploration company’s stock, valued at approximately $973,000.

Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in EOG Resources in the 2nd quarter valued at about $654,899,000. Deutsche Bank AG acquired a new stake in shares of EOG Resources during the second quarter worth about $251,102,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of EOG Resources during the second quarter worth about $168,029,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of EOG Resources by 898.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock valued at $205,411,000 after purchasing an additional 1,278,555 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of EOG Resources by 24.2% in the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after purchasing an additional 1,257,110 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EOG shares. Sanford C. Bernstein cut 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 research note on Wednesday, May 20th. Roth Capital reiterated a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. The Goldman Sachs Group decreased their price target on shares of EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Susquehanna restated a “positive” rating and issued a $170.00 price target (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat, EOG Resources has an average rating of “Hold” and an average target price of $156.00.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $148.68 on Wednesday. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The company has a market cap of $77.99 billion, a PE ratio of 11.57 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The business has a 50-day simple moving average of $137.92 and a 200-day simple moving average of $134.33.

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

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. EOG Resources’s dividend payout ratio is currently 31.75%.

EOG Resources Profile

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.