Benjamin Edwards Inc. Has $31.25 Million Position in EOG Resources, Inc. $EOG

Key Points

• Benjamin Edwards Inc. reduced its EOG Resources stake by 12.1% in the second quarter, selling 33,236 shares and retaining 240,862 shares valued at approximately $31.25 million. Institutional investors collectively own 89.91% of EOG’s stock.
• Analyst sentiment is mixed: EOG has an average rating of “Hold” and a consensus price target of $156.33, with ratings ranging from Hold to Strong Buy.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, while revenue rose 57.4% year over year to $8.62 billion. The company also declared a quarterly dividend of $1.02 per share, representing a 2.8% annualized yield.

Benjamin Edwards Inc. cut its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,862 shares of the energy exploration company's stock after selling 33,236 shares during the quarter. Benjamin Edwards Inc.'s holdings in EOG Resources were worth $31,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its stake in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after purchasing an additional 124 shares during the period. Financial Life Planners bought a new position in EOG Resources in the 1st quarter worth approximately $30,000. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources in the fourth quarter valued at $25,000. Wedbush Fund Advisers LLC bought a new stake in shares of EOG Resources during the second quarter valued at about $31,000. Finally, Prosperity Bancshares Inc bought a new stake in EOG Resources during the 4th quarter worth approximately $26,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on EOG. Capital One Financial lowered shares of EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 target price for the company. in a research report on Wednesday. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Freedom Capital lowered shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. DA Davidson lifted their price target on shares of EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $183.00 target price on shares of EOG Resources in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat, EOG Resources currently has an average rating of "Hold" and a consensus price target of $156.33.

EOG Resources Stock Down 0.7%

Shares of EOG opened at $143.53 on Friday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $153.67. The business's 50 day moving average is $140.20 and its 200 day moving average is $136.19. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $75.29 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period in the prior year, the company earned $2.32 earnings per share. The firm's revenue was up 57.4% on a year-over-year basis. Research analysts expect that EOG Resources, Inc. will post 16.87 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources's dividend payout ratio is currently 31.75%.

Insider Activity at EOG Resources

In other EOG Resources 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 transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

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