Diversify Wealth Management LLC Takes $1.29 Million Position in EOG Resources, Inc. $EOG

Key Points

• Diversify Wealth Management opened a new position in EOG Resources in Q1, buying 9,311 shares valued at about $1.29 million.
• EOG Resources reported strong quarterly results, with EPS of $3.41 and revenue of $6.92 billion, both topping analyst expectations and up notably from a year earlier.
• The company also declared a quarterly dividend of $1.02 per share, implying a 3.0% annualized yield, while analysts currently hold a Moderate Buy consensus rating with a $155.04 average price target.

Diversify Wealth Management LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,311 shares of the energy exploration company's stock, valued at approximately $1,295,000.

Several other hedge funds have also added to or reduced their stakes in the business. Sivia Capital Partners LLC acquired a new stake in shares of EOG Resources in the second quarter valued at about $258,000. Quantbot Technologies LP acquired a new position in shares of EOG Resources in the second quarter worth approximately $349,000. Gamco Investors INC. ET AL boosted its holdings in EOG Resources by 216.1% in the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company's stock valued at $785,000 after acquiring an additional 4,485 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in EOG Resources by 2.0% in the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company's stock valued at $2,725,000 after acquiring an additional 444 shares during the last quarter. Finally, Sei Investments Co. increased its position in EOG Resources by 4.4% during the 2nd 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. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 0.3%

Shares of NYSE EOG opened at $137.56 on Thursday. The firm has a market cap of $73.27 billion, a PE ratio of 13.54 and a beta of 0.25. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The company's fifty day simple moving average is $135.56 and its 200 day simple moving average is $128.23. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period last year, the company posted $2.87 earnings per share. The business's quarterly revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 16.18 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Mizuho set a $157.00 target price on shares of EOG Resources and gave the company a "neutral" rating in a report on Wednesday, May 27th. Wolfe Research increased their price target on EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. JPMorgan Chase & Co. lowered their price objective on EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Capital One Financial dropped their price objective on EOG Resources from $161.00 to $159.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group cut their target price on EOG Resources from $139.00 to $129.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.04.

About EOG Resources

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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