Inspire Trust Co. N.A. Purchases 2,600 Shares of EOG Resources, Inc. $EOG

Key Points

• Inspire Trust Co. N.A. increased its holdings in EOG Resources, Inc. by 30.2%, purchasing an additional 2,600 shares, bringing total ownership to 11,200 shares valued at $1,436,000.
• EOG Resources announced a quarterly dividend increase to $1.02 per share, up from $0.98, representing an annualized yield of 3.4%.
• The company reported a net margin of 25.25% and earnings of $2.32 per share, surpassing analysts' expectations of $2.14.

Inspire Trust Co. N.A. lifted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the energy exploration company's stock after acquiring an additional 2,600 shares during the period. Inspire Trust Co. N.A.'s holdings in EOG Resources were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in EOG. Banque Cantonale Vaudoise acquired a new position in EOG Resources during the first quarter worth $26,000. Alpine Bank Wealth Management purchased a new stake in EOG Resources in the first quarter valued at $34,000. Ameriflex Group Inc. purchased a new stake in EOG Resources in the fourth quarter valued at $36,000. 10Elms LLP purchased a new stake in EOG Resources in the fourth quarter valued at $44,000. Finally, Stone House Investment Management LLC purchased a new stake in EOG Resources in the first quarter valued at $48,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EOG shares. KeyCorp reduced their target price on EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Piper Sandler cut their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, Mizuho cut their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.71.

Insider Activity

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

Shares of EOG stock traded down $0.6310 on Tuesday, reaching $117.0990. The stock had a trading volume of 848,450 shares, compared to its average volume of 3,615,352. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 9.15 and a beta of 0.80. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The firm's 50-day moving average is $120.36 and its two-hundred day moving average is $119.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 EPS. On average, research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th 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 3.5%. The ex-dividend date is Friday, October 17th. This is a boost from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's dividend payout ratio (DPR) is currently 39.65%.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.