Elevation Point Wealth Partners LLC Sells 7,467 Shares of EOG Resources, Inc. $EOG

Key Points

• Elevation Point Wealth Partners cut its EOG Resources stake by 51.8% in the second quarter, selling 7,467 shares and retaining 6,955 shares valued at approximately $902,000. Institutional investors collectively own 89.91% of EOG.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue reached $8.62 billion and rose 57.4% year over year. The company also declared a $1.02 quarterly dividend, equivalent to a 2.7% yield.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and a $156.22 target price. EOG shares recently opened at $150.18, near their 52-week high of $153.67.

Elevation Point Wealth Partners LLC lessened its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 51.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,955 shares of the energy exploration company's stock after selling 7,467 shares during the period. Elevation Point Wealth Partners LLC's holdings in EOG Resources were worth $902,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Sivia Capital Partners LLC bought a new stake in EOG Resources in the 2nd quarter valued at about $258,000. Quantbot Technologies LP bought a new position in EOG Resources in the second quarter worth approximately $349,000. Gamco Investors INC. ET AL grew its stake 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 period. NewEdge Advisors LLC grew its stake 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 period. Finally, Sei Investments Co. increased its holdings in shares of EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company's stock valued at $43,356,000 after acquiring an additional 15,250 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

NYSE:EOG opened at $150.18 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The company has a market capitalization of $78.77 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.57 and a beta of 0.25. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67. The business has a fifty day simple moving average of $139.11 and a two-hundred day simple moving average of $135.47.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.32 EPS. On average, analysts expect that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.7%. EOG Resources's dividend payout ratio (DPR) is 31.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EOG. Citigroup cut their target price on EOG Resources from $147.00 to $141.00 and set a "neutral" rating on the stock in a report on Wednesday, July 8th. The Goldman Sachs Group restated a "neutral" rating and set a $151.00 price objective (up from $127.00) on shares of EOG Resources in a report on Monday. Zacks Research cut shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Capital One Financial cut their target price on EOG Resources from $161.00 to $159.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. Finally, Morgan Stanley set a $157.00 price objective on shares of EOG Resources and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $156.22.

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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