13,435 Shares in EOG Resources, Inc. $EOG Purchased by Parvin Asset Management LLC

Key Points

• Parvin Asset Management acquired 13,435 EOG Resources shares worth approximately $1.74 million, making EOG about 1.4% of its portfolio. Institutional investors collectively own nearly 89.91% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $156, although ratings and targets were mixed, including a Jefferies price-target increase to $175.
• EOG reported quarterly earnings of $5.07 per share and $8.62 billion in revenue, beating estimates and achieving 57.4% year-over-year revenue growth. The company also declared a $1.02 quarterly dividend, equivalent to a 2.8% annualized yield.

Parvin Asset Management LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,435 shares of the energy exploration company's stock, valued at approximately $1,743,000. EOG Resources makes up about 1.4% of Parvin Asset Management LLC's portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the 4th quarter worth approximately $25,000. SJS Investment Consulting Inc. raised its stake in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after buying an additional 124 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in EOG Resources during the fourth quarter valued at $26,000. Nemes Rush Group LLC bought a new stake in EOG Resources in the fourth quarter worth $30,000. Finally, Financial Life Planners purchased a new stake in shares of EOG Resources in the first quarter worth $30,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Stephens decreased their target price on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. 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 research note on Wednesday, May 20th. Capital One Financial cut EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price objective on the stock. in a research report on Wednesday. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of "Hold" and an average target price of $156.00.

EOG Resources Stock Performance

Shares of EOG opened at $144.95 on Thursday. The firm has a market capitalization of $76.03 billion, a P/E ratio of 11.28, a PEG ratio of 0.54 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $153.67. The business has a fifty day moving average of $139.64 and a 200 day moving average of $135.92.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. During the same period last year, the firm posted $2.32 earnings per share. The business's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently declared 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 is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's dividend payout ratio (DPR) is presently 31.75%.

Insider Activity

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.

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