Gallacher Capital Management LLC Buys Shares of 7,851 EOG Resources, Inc. $EOG

Key Points

• Gallacher Capital Management initiated a new position in EOG Resources, buying 7,851 shares worth about $1.135 million in the first quarter.
• EOG reported better-than-expected quarterly results, with EPS of $3.41 versus estimates of $3.23 and revenue of $6.92 billion, up 22.1% year over year.
• The company also declared a quarterly dividend of $1.02 per share, equal to a 2.9% annualized yield, while analysts currently view the stock as a Moderate Buy with an average price target of $155.04.

Gallacher Capital Management LLC purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,851 shares of the energy exploration company's stock, valued at approximately $1,135,000.

Several other large investors also recently modified their holdings of EOG. SJS Investment Consulting Inc. lifted 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 purchasing an additional 124 shares during the last quarter. Financial Life Planners bought a new position in EOG Resources during the first quarter valued at $30,000. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the fourth quarter worth $25,000. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources in the fourth quarter valued at $26,000. Finally, Global Assets Advisory LLC bought a new stake in shares of EOG Resources in the first quarter valued at $37,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG opened at $138.41 on Friday. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The stock's 50-day simple moving average is $135.72 and its 200 day simple moving average is $128.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The stock has a market capitalization of $73.72 billion, a price-to-earnings ratio of 13.62 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the prior year, the business posted $2.87 earnings per share. The company's revenue was up 22.1% on a year-over-year basis. Research analysts forecast that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on EOG shares. The Goldman Sachs Group dropped their price target on EOG Resources from $139.00 to $129.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Zacks Research cut EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Roth Capital reaffirmed a "neutral" rating and set a $136.00 price objective on shares of EOG Resources in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. cut 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 report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.04.

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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