Empowered Funds LLC Cuts Stock Position in EOG Resources, Inc. $EOG

Key Points

• Empowered Funds LLC reduced its EOG Resources stake by 5% in the first quarter, selling 15,666 shares and retaining 297,143 shares worth approximately $43.0 million. Institutional investors collectively own 89.91% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $155.32. Recent targets range from $156 to $175, despite some downward revisions.
• EOG reported quarterly earnings of $3.41 per share and revenue of $6.92 billion, both above expectations, while revenue increased 22.1% year over year. The company also declared a quarterly dividend of $1.02 per share, representing a 2.9% yield.

Empowered Funds LLC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,143 shares of the energy exploration company's stock after selling 15,666 shares during the quarter. Empowered Funds LLC owned about 0.06% of EOG Resources worth $42,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its holdings in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Financial Life Planners acquired a new position in shares of EOG Resources during the first quarter worth about $30,000. Acumen Wealth Advisors LLC acquired a new position in shares of EOG Resources during the fourth quarter worth about $25,000. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources in the fourth quarter worth about $26,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of EOG Resources in the first quarter worth about $37,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EOG. UBS Group lowered their target price on EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. Weiss Ratings raised EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. BMO Capital Markets upped their price target on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Morgan Stanley lowered their price objective on shares of EOG Resources from $160.00 to $156.00 and set an "equal weight" rating for the company in a research report on Friday, June 26th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned 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 an average price target of $155.32.

EOG Resources Stock Down 4.2%

Shares of EOG Resources stock opened at $140.31 on Tuesday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The company has a market capitalization of $74.73 billion, a PE ratio of 13.81 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The business has a 50-day moving average of $136.70 and a 200-day moving average of $130.32.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the previous year, the firm posted $2.87 earnings per share. The company's revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 2.9%. EOG Resources's payout ratio is currently 40.16%.

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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