Energy Income Partners LLC Makes New $32.27 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Energy Income Partners acquired 248,767 shares of EOG Resources in the second quarter, representing an investment of approximately $32.27 million. Institutional investors collectively own 89.91% of the company.
• EOG reported quarterly EPS of $5.07, exceeding the $4.97 consensus estimate, while revenue rose 57.4% year over year to $8.62 billion.
• Analysts maintain a broadly cautious outlook, with an average rating of “Hold” and a consensus price target of $156. EOG also declared a quarterly dividend of $1.02, equivalent to a 2.7% annualized yield.

Energy Income Partners LLC acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 248,767 shares of the energy exploration company's stock, valued at approximately $32,273,000.

A number of other hedge funds have also recently made changes to their positions in EOG. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the fourth quarter worth $25,000. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% during 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. Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources in the fourth quarter worth about $30,000. Finally, Financial Life Planners bought a new position in shares of EOG Resources in the first quarter worth approximately $30,000. 89.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EOG shares. Weiss Ratings reissued a "buy (b-)" rating on shares of EOG Resources in a research report on Friday, August 7th. Citigroup dropped their price target on shares of EOG Resources from $147.00 to $141.00 and set a "neutral" rating on the stock in a report on Wednesday, July 8th. Morgan Stanley decreased 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 report on Friday, June 26th. Raymond James Financial restated a "strong-buy" rating and issued a $183.00 target price on shares of EOG Resources in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $156.00.

EOG Resources Price Performance

NYSE EOG opened at $148.68 on Wednesday. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The firm has a market capitalization of $77.99 billion, a P/E ratio of 11.57 and a beta of 0.25. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $137.92 and a 200-day moving average price of $134.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm's revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 earnings per share. Equities research analysts anticipate that EOG Resources, Inc. will post 16.43 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.7%. EOG Resources's payout ratio is currently 31.75%.

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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