Empowered Funds LLC Purchases Shares of 398,969 EOG Resources, Inc. $EOG

Key Points

• Empowered Funds LLC acquired 398,969 EOG Resources shares during the second quarter, worth approximately $51.8 million. Institutional investors collectively own 89.91% of EOG’s outstanding stock.
• EOG reported quarterly earnings of $5.07 per share, 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. CEO Ezra Y. Yacob sold 35,942 shares for approximately $5.47 million.

Empowered Funds LLC purchased a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 398,969 shares of the energy exploration company's stock, valued at approximately $51,758,000. Empowered Funds LLC owned approximately 0.08% of EOG Resources at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new position in EOG Resources in the 4th quarter worth approximately $25,000. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources in the fourth quarter valued at $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of EOG Resources by 225.5% in the first 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. Nemes Rush Group LLC acquired a new stake in shares of EOG Resources in the fourth quarter worth $30,000. Finally, Gen Wealth Partners Inc purchased a new position in shares of EOG Resources during the fourth quarter valued at $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Barclays set a $147.00 target price on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, August 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of EOG Resources in a research report on Friday, August 7th. Morgan Stanley set a $157.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. Citigroup reaffirmed a "neutral" rating and issued a $150.00 target price (up from $141.00) on shares of EOG Resources in a research report on Thursday. Finally, Stephens reduced their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $156.33.

EOG Resources Price Performance

NYSE EOG opened at $144.51 on Friday. The company has a market cap of $75.80 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.54 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 company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $139.93 and a 200 day simple moving average of $136.14.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share 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 business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.04 billion. During the same quarter in the previous year, the firm earned $2.32 EPS. The firm's revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts predict that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is presently 31.75%.

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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