Energy Income Partners LLC Grows Holdings in EOG Resources, Inc. $EOG

Key Points

• Energy Income Partners increased its EOG Resources stake by 28% in the first quarter, bringing its holdings to 195,943 shares worth approximately $28.3 million. Institutional investors collectively own 89.91% of EOG’s stock.
• EOG reported quarterly EPS of $3.41, exceeding estimates of $3.23, while revenue rose 22.1% year over year to $6.92 billion, above expectations of $6.18 billion.
• The company declared a quarterly dividend of $1.02 per share, equal to $4.08 annually and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $155.32.

Energy Income Partners LLC raised its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,943 shares of the energy exploration company's stock after buying an additional 42,814 shares during the period. Energy Income Partners LLC's holdings in EOG Resources were worth $28,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EOG. SJS Investment Consulting Inc. increased its stake in 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 acquiring an additional 124 shares during the last quarter. Financial Life Planners purchased a new stake in EOG Resources during the first quarter valued at about $30,000. Acumen Wealth Advisors LLC bought a new stake in EOG Resources during the fourth quarter worth about $25,000. Prosperity Bancshares Inc bought a new stake in EOG Resources during the fourth quarter worth about $26,000. Finally, Global Assets Advisory LLC purchased a new position in shares of EOG Resources in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

NYSE EOG opened at $140.31 on Tuesday. The company has a 50-day simple moving average of $136.70 and a two-hundred day simple moving average of $130.32. 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, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The firm has a market cap of $74.73 billion, a price-to-earnings ratio of 13.81 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $2.87 earnings per share. On average, equities analysts forecast that EOG Resources, Inc. will post 16.16 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EOG. UBS Group reduced their price objective on EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their target price 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. Morgan Stanley cut their target price on EOG Resources from $160.00 to $156.00 and set an "equal weight" rating for the company in a research note on Friday, June 26th. Williams Trading set a $177.00 price target on shares of EOG Resources in a research report on Monday, April 20th. Finally, Wolfe Research lifted their price target on shares of EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $155.32.

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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