Dearborn Partners LLC Invests $12.60 Million in EOG Resources, Inc. $EOG

Key Points

• Dearborn Partners initiated a $12.6 million position in EOG Resources by purchasing 97,134 shares during the second quarter. Institutional investors and hedge funds collectively own 89.91% of the company.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. The company also declared a quarterly dividend of $1.02 per share, equating to a 2.8% annualized yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $156.33, compared with the stock’s reported price of $144.51. Ratings range from “Strong Buy” to “Hold,” while CEO Ezra Y. Yacob recently sold shares valued at approximately $5.47 million.

Dearborn Partners LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,134 shares of the energy exploration company's stock, valued at approximately $12,601,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the 4th quarter valued at approximately $25,000. SJS Investment Consulting Inc. lifted its position in shares of EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources during the 4th quarter worth $26,000. Nemes Rush Group LLC acquired a new position in shares of EOG Resources during the fourth quarter worth $30,000. Finally, Financial Life Planners acquired a new position in shares of EOG Resources during the first quarter worth $30,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

NYSE EOG opened at $144.51 on Friday. 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 1 year low of $101.59 and a 1 year high of $153.67. The company has a market capitalization of $75.80 billion, a PE ratio of 11.25, a P/E/G ratio of 0.54 and a beta of 0.25. The company has a fifty day moving average of $139.93 and a two-hundred day moving average of $136.14.

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 (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 company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter last year, the company posted $2.32 earnings per share. The business's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts expect that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid 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 is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is currently 31.75%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EOG. Citigroup restated a "neutral" rating and issued a $150.00 price target (up from $141.00) on shares of EOG Resources in a research note on Thursday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $151.00 price objective (up from $127.00) on shares of EOG Resources in a report on Monday. Morgan Stanley set a $157.00 target price on EOG Resources and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Jefferies Financial Group restated a "buy" rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $156.33.

Insider Buying and Selling

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources 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 of the company's stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

EOG Resources Company 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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