Beacon Pointe Advisors LLC Invests $6.53 Million in EOG Resources, Inc. $EOG

Key Points

• Beacon Pointe Advisors purchased 50,342 EOG Resources shares worth approximately $6.53 million in the second quarter. Institutional investors collectively own 89.91% of EOG’s stock.
• EOG reported strong quarterly results, with $5.07 earnings per share and $8.62 billion in revenue, surpassing analyst estimates; revenue increased 57.4% year over year.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 dividend and a 2.8% yield. Analysts maintain a consensus “Hold” rating with a $156.33 target price.

Beacon Pointe Advisors LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,342 shares of the energy exploration company's stock, valued at approximately $6,532,000.

Several other large investors have also recently modified their holdings of EOG. Jupiter Topco LLC purchased a new position in shares of EOG Resources in the second quarter worth $138,987,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of EOG Resources during the second quarter valued at $11,746,000. Parvin Asset Management LLC bought a new stake in EOG Resources in the 2nd quarter worth about $1,743,000. Ilmarinen Mutual Pension Insurance Co increased its holdings in EOG Resources by 39.2% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company's stock worth $9,136,000 after buying an additional 24,500 shares in the last quarter. Finally, Cumberland Partners Ltd increased its holdings in EOG Resources by 432.0% in the 4th quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company's stock worth $1,625,000 after buying an additional 12,562 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Trading Down 0.7%

Shares of NYSE:EOG opened at $143.53 on Friday. The stock's 50-day simple moving average is $140.20 and its two-hundred day simple moving average is $136.19. The stock has a market capitalization of $75.29 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.53 and a beta of 0.25. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $153.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts expect that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is currently 31.75%.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Freedom Capital cut shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Stephens reduced their price target on shares of EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Wells Fargo & Company restated an "overweight" rating and set a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $183.00 target price on shares of EOG Resources in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $156.33.

Insider Buying and Selling

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source