Glenview Trust Co Takes $4.80 Million Position in EOG Resources, Inc. $EOG

Key Points

• Glenview Trust Co. acquired 36,994 shares of EOG Resources in the second quarter, valued at approximately $4.8 million. Institutional investors collectively own 89.91% of the company.
• EOG reported quarterly earnings of $5.07 per share, topping estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. The company also declared a quarterly dividend of $1.02 per share, representing a 2.8% annualized yield.
• Wall Street’s consensus rating is “Hold”, with an average price target of $156.33 versus the reported share price of $144.51. Analyst opinions range from “Strong Buy” to “Hold,” while CEO Ezra Yacob recently sold $5.47 million worth of shares.

Glenview Trust Co bought a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 36,994 shares of the energy exploration company's stock, valued at approximately $4,799,000.

Other institutional investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new position in shares of EOG Resources during the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. raised 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 worth $26,000 after buying an additional 124 shares in the last quarter. Prosperity Bancshares Inc bought a new position in EOG Resources in the fourth quarter worth approximately $26,000. Nemes Rush Group LLC purchased a new stake in EOG Resources during the fourth quarter worth $30,000. Finally, Financial Life Planners purchased a new stake in EOG Resources during the first quarter worth $30,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $144.51 on Friday. The firm has a market capitalization of $75.80 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.54 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The business has a fifty day moving average of $139.93 and a 200 day moving average of $136.14. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the firm earned $2.32 earnings per share. EOG Resources's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts expect that EOG Resources, Inc. will post 16.87 earnings per share for the current 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 of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is 31.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EOG. Wells Fargo & Company reissued an "overweight" rating and issued a $193.00 price target (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Sanford C. Bernstein dropped their price objective on EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 20th. Barclays set a $147.00 target price on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, August 17th. Citigroup reiterated a "neutral" rating and issued a $150.00 target price (up from $141.00) on shares of EOG Resources in a report on Thursday. Finally, UBS Group decreased their price target on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of "Hold" and a consensus price target of $156.33.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 242,451 shares of the company's stock, valued at $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source