EOG Resources, Inc. $EOG Stake Increased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its EOG Resources stake by 14% in the second quarter, purchasing 10,864 additional shares and bringing its holdings to 88,431 shares worth approximately $11.5 million. Institutional investors and hedge funds own 89.91% of EOG.
• EOG reported quarterly earnings of $5.07 per share and revenue of $8.62 billion, exceeding analyst expectations; revenue rose 57.4% year over year. The company also declared a $1.02 quarterly dividend, representing a 2.8% annualized yield.
• Analyst sentiment remains mixed, with EOG carrying a consensus “Hold” rating and an average price target of $157.04. Shares recently traded at $145.11, while CEO Ezra Yacob sold 35,942 shares at an average price of $152.10.

NEOS Investment Management LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 14.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,431 shares of the energy exploration company's stock after buying an additional 10,864 shares during the quarter. NEOS Investment Management LLC's holdings in EOG Resources were worth $11,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Summitry LLC lifted its position in shares of EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company's stock worth $699,000 after purchasing an additional 73 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of EOG Resources by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company's stock valued at $3,467,000 after buying an additional 79 shares during the period. Sax Wealth Advisors LLC boosted its stake in shares of EOG Resources by 2.8% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company's stock valued at $377,000 after buying an additional 79 shares during the period. Paladin Wealth LLC grew its holdings in shares of EOG Resources by 5.3% during the 2nd quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company's stock valued at $207,000 after acquiring an additional 80 shares in the last quarter. Finally, Hardy Reed LLC grew its holdings in shares of EOG Resources by 3.8% during the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock valued at $325,000 after acquiring an additional 82 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EOG Resources news, CEO Ezra Yacob sold 35,942 shares of the company'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 completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on EOG shares. Wells Fargo & Company reiterated an "overweight" rating and set a $193.00 price objective (down from $196.00) on shares of EOG Resources in a report on Thursday, August 13th. Mizuho set a $157.00 target price on EOG Resources and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Truist Financial raised their price target on EOG Resources from $134.00 to $153.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. Susquehanna reiterated a "positive" rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Finally, Roth Capital restated a "neutral" rating and issued a $138.00 price objective on shares of EOG Resources in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat, EOG Resources presently has an average rating of "Hold" and an average target price of $157.04.

EOG Resources Trading Down 0.6%

Shares of EOG stock opened at $145.11 on Friday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67. 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 business's 50 day moving average is $141.49 and its two-hundred day moving average is $137.24. The company has a market cap of $76.11 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.54 and a beta of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources's revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 earnings per share. Equities analysts predict that EOG Resources, Inc. will post 16.89 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $1.02 per share. 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 2.8%. EOG Resources's payout ratio is currently 31.75%.

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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