Engineers Gate Manager LP Makes New $1.30 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Engineers Gate Manager LP initiated a $1.3 million position in EOG Resources during the second quarter, while institutional investors collectively own 89.91% of the company.
• EOG reported stronger-than-expected quarterly results, with earnings of $5.07 per share and revenue of $8.62 billion, up 57.4% year over year.
• The company declared a quarterly dividend of $1.02 per share, representing a 2.8% yield; analysts maintain a consensus “Hold” rating with an average price target of $158.11.

Engineers Gate Manager LP purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,023 shares of the energy exploration company's stock, valued at approximately $1,300,000.

A number of other large investors have also recently bought and sold shares of EOG. Cidel Asset Management Inc. boosted its stake in EOG Resources by 3.6% in the second quarter. Cidel Asset Management Inc. now owns 8,089 shares of the energy exploration company's stock worth $1,049,000 after purchasing an additional 282 shares in the last quarter. Capital Analysts LLC increased its stake in shares of EOG Resources by 0.9% in the second quarter. Capital Analysts LLC now owns 104,396 shares of the energy exploration company's stock valued at $13,543,000 after buying an additional 892 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of EOG Resources by 47.8% in the second quarter. Integrated Wealth Concepts LLC now owns 19,729 shares of the energy exploration company's stock worth $2,559,000 after acquiring an additional 6,378 shares during the last quarter. Community Bank N.A. grew its stake in shares of EOG Resources by 1.0% during the second quarter. Community Bank N.A. now owns 17,463 shares of the energy exploration company's stock valued at $2,265,000 after purchasing an additional 176 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of EOG Resources by 68.0% in the second quarter. NewEdge Advisors LLC now owns 87,430 shares of the energy exploration company's stock valued at $11,342,000 after purchasing an additional 35,382 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

Shares of EOG opened at $145.49 on Friday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $154.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm's 50 day moving average price is $144.26 and its two-hundred day moving average price is $138.92. The firm has a market cap of $76.32 billion, a P/E ratio of 11.32, a PEG ratio of 0.54 and a beta of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the firm posted $2.32 EPS. The business's revenue was up 57.4% on a year-over-year basis. On average, analysts forecast that EOG Resources, Inc. will post 16.75 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors 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 yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources's dividend payout ratio is presently 31.75%.

Analysts Set New Price Targets

Several research analysts have issued reports on EOG shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Thursday. UBS Group reaffirmed a "buy" rating and set a $183.00 price target (up from $158.00) on shares of EOG Resources in a research note on Monday. Zacks Research cut EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Roth Capital reiterated a "neutral" rating and issued a $138.00 price objective on shares of EOG Resources in a research report on Wednesday, August 5th. Finally, Morgan Stanley set a $157.00 price objective on shares of EOG Resources and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $158.11.

Insider Buying and Selling at EOG Resources

In other news, CEO Ezra Yacob sold 35,942 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Donaldson sold 7,336 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company's stock, valued at $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company's principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

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