Corient Private Wealth LP Decreases Stake in EOG Resources, Inc. $EOG

Key Points

• Corient Private Wealth LP reduced its EOG Resources stake by 39.7% in the second quarter, selling 119,304 shares and retaining 181,062 shares valued at approximately $23.5 million. Institutional investors collectively own 89.91% of EOG.
• EOG reported stronger-than-expected quarterly results, with earnings of $5.07 per share and revenue of $8.62 billion, up 57.4% year over year. Analysts forecast full-year earnings of $16.87 per share.
• EOG declared a quarterly dividend of $1.02, equivalent to $4.08 annually and a 2.8% yield. Despite mostly positive analyst ratings, the consensus view remains “Hold”, with an average price target of $156.33.

Corient Private Wealth LP cut its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 39.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,062 shares of the energy exploration company's stock after selling 119,304 shares during the period. Corient Private Wealth LP's holdings in EOG Resources were worth $23,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Sivia Capital Partners LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at $258,000. Quantbot Technologies LP acquired a new stake in EOG Resources during the 2nd quarter worth about $349,000. Gamco Investors INC. ET AL grew its stake in EOG Resources by 216.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock valued at $785,000 after purchasing an additional 4,485 shares during the last quarter. NewEdge Advisors LLC grew its stake in EOG Resources by 2.0% during the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after purchasing an additional 444 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after purchasing an additional 15,250 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Down 0.7%

EOG stock opened at $143.53 on Friday. EOG Resources, Inc. has a one year low of $101.59 and a one year 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. The firm's fifty day moving average is $140.20 and its 200 day moving average is $136.19. The firm has a market cap of $75.29 billion, a PE ratio of 11.17, a P/E/G ratio of 0.54 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data 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. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the firm posted $2.32 earnings per share. The company's revenue was up 57.4% compared to the same quarter last year. On average, research analysts forecast that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued 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 yield of 2.8%. EOG Resources's dividend payout ratio is presently 31.75%.

Analyst Ratings Changes

A number of equities research analysts recently commented on EOG shares. Susquehanna reaffirmed a "positive" rating and set a $170.00 target price (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Zacks Research downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Truist Financial raised their price target on shares of EOG Resources from $134.00 to $153.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "buy (b-)" rating on shares of EOG Resources in a research note on Friday, August 7th. Finally, Stephens dropped their price objective on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $156.33.

Insiders Place Their Bets

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 stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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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