Kimelman & Baird LLC Takes Position in EOG Resources, Inc. $EOG

Key Points

• Kimelman & Baird LLC acquired 9,400 shares of EOG Resources during the second quarter, valued at approximately $1.22 million. Institutional investors and hedge funds collectively own 89.91% of the company.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates, while revenue rose 57.4% year over year to $8.62 billion. Analysts expect full-year earnings of $16.87 per share.
• The company declared a quarterly dividend of $1.02, equivalent to an annualized $4.08 payout and a 2.8% yield. Despite mostly positive analyst ratings, EOG’s consensus rating is “Hold,” with an average price target of $156.33.

Kimelman & Baird LLC purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,400 shares of the energy exploration company's stock, valued at approximately $1,219,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the 4th quarter worth approximately $25,000. Prosperity Bancshares Inc acquired a new position in EOG Resources in the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. boosted 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 acquiring an additional 124 shares during the last quarter. Nemes Rush Group LLC acquired a new stake in EOG Resources during the 4th quarter worth $30,000. Finally, Gen Wealth Partners Inc acquired a new stake in EOG Resources during the 4th quarter worth $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 0.7%

EOG Resources stock opened at $143.53 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67. The company has a fifty day simple moving average of $140.20 and a 200 day simple moving average of $136.19. The company has a market cap of $75.29 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.54 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm earned $2.32 EPS. The business's quarterly revenue was up 57.4% on a year-over-year basis. Research analysts anticipate that EOG Resources, Inc. will post 16.87 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources's dividend payout ratio is currently 31.75%.

Insider Activity

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the sale, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson increased their target price on EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen cut EOG Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Capital One Financial lowered shares of EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 price objective on the stock. in a research note on Wednesday. Weiss Ratings restated a "buy (b-)" rating on shares of EOG Resources in a report on Friday, August 7th. Finally, Stephens lowered their target price on shares of EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. 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 stock. Based on data from MarketBeat, EOG Resources presently has an average rating of "Hold" and an average target price of $156.33.

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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