Cornerstone Wealth Management LLC Purchases New Stake in EOG Resources, Inc. (NYSE:EOG)

Cornerstone Wealth Management LLC purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,087 shares of the energy exploration company's stock, valued at approximately $268,000.

Several other institutional investors have also modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its position in shares of EOG Resources by 8.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 989 shares of the energy exploration company's stock valued at $121,000 after acquiring an additional 80 shares during the period. 1ST Source Bank boosted its position in shares of EOG Resources by 1.5% in the fourth quarter. 1ST Source Bank now owns 5,349 shares of the energy exploration company's stock valued at $656,000 after acquiring an additional 80 shares during the period. Penobscot Investment Management Company Inc. boosted its position in shares of EOG Resources by 2.0% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,065 shares of the energy exploration company's stock valued at $498,000 after acquiring an additional 80 shares during the period. TD Private Client Wealth LLC boosted its position in shares of EOG Resources by 1.4% in the fourth quarter. TD Private Client Wealth LLC now owns 5,786 shares of the energy exploration company's stock valued at $709,000 after acquiring an additional 81 shares during the period. Finally, Advisor OS LLC boosted its position in shares of EOG Resources by 3.1% in the fourth quarter. Advisor OS LLC now owns 2,751 shares of the energy exploration company's stock valued at $337,000 after acquiring an additional 82 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EOG. Piper Sandler reduced their target price on EOG Resources from $135.00 to $133.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Susquehanna reduced their target price on EOG Resources from $161.00 to $156.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating and issued a $140.00 target price (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. KeyCorp reduced their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Bank of America reduced their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.48.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares in the company, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

EOG Resources Price Performance

Shares of NYSE:EOG traded up $1.62 during midday trading on Friday, reaching $125.40. The company's stock had a trading volume of 11,228,066 shares, compared to its average volume of 3,372,209. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a market capitalization of $68.44 billion, a P/E ratio of 11.63, a P/E/G ratio of 10.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.71. The business's fifty day simple moving average is $113.49 and its 200-day simple moving average is $121.56.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.82 earnings per share. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. As a group, equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.25%. EOG Resources's dividend payout ratio (DPR) is 36.18%.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.