HB Wealth Management LLC Increases Stock Position in EOG Resources, Inc. $EOG

Key Points

• HB Wealth Management increased its EOG Resources position by 72.4% in the second quarter, bringing its holdings to 29,863 shares valued at approximately $3.87 million. Institutional investors collectively own 89.91% of EOG’s stock.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $157.04. Individual targets range from $147 to $183.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, 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.

HB Wealth Management LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 72.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,863 shares of the energy exploration company's stock after acquiring an additional 12,538 shares during the quarter. HB Wealth Management LLC's holdings in EOG Resources were worth $3,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EOG. Saudi Central Bank boosted its position in shares of EOG Resources by 87.2% during the second quarter. Saudi Central Bank now owns 37,500 shares of the energy exploration company's stock valued at $4,865,000 after buying an additional 17,472 shares during the last quarter. NBH Bank purchased a new position in EOG Resources in the 2nd quarter worth about $269,000. Oakmont Investment Advisors Inc. bought a new position in EOG Resources during the 2nd quarter valued at about $791,000. Syon Capital LLC lifted its stake in EOG Resources by 8.1% during the 2nd quarter. Syon Capital LLC now owns 6,463 shares of the energy exploration company's stock valued at $838,000 after acquiring an additional 486 shares during the period. Finally, United Community Bank boosted its holdings in shares of EOG Resources by 11.1% during the 2nd quarter. United Community Bank now owns 1,397 shares of the energy exploration company's stock valued at $181,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Capital One Financial lowered shares of EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price target for the company. in a research note on Wednesday, August 26th. Morgan Stanley set a $157.00 price objective on shares of EOG Resources and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. 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. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Finally, Barclays set a $147.00 price target on EOG Resources and gave the company an "equal weight" rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $157.04.

Insider Activity

In related news, CEO Ezra Yacob sold 35,942 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company's stock.

EOG Resources Trading Down 0.1%

Shares of EOG stock opened at $145.11 on Tuesday. 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 company has a market cap of $76.11 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.54 and a beta of 0.26. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67. The firm has a fifty day moving average price of $141.75 and a 200-day moving average price of $137.53.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.44% and a net margin of 25.44%.EOG Resources's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.32 earnings per share. As a group, equities analysts predict that EOG Resources, Inc. will post 16.89 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's payout ratio is presently 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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