Meeder Advisory Services Inc. Makes New $1.95 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Meeder Advisory Services acquired 15,050 shares of EOG Resources worth approximately $1.95 million, while several other institutional investors also initiated positions; institutions collectively own 89.91% of the stock.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Analysts expect full-year EPS of $16.43.
• EOG declared a quarterly dividend of $1.02, equivalent to $4.08 annually and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.

Meeder Advisory Services Inc. acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,050 shares of the energy exploration company's stock, valued at approximately $1,952,000.

A number of other institutional investors have also recently made changes to their positions in EOG. Meeder Asset Management Inc. purchased a new stake in shares of EOG Resources in the second quarter worth about $628,000. Citizens Financial Group Inc. RI purchased a new position in EOG Resources during the 2nd quarter valued at approximately $2,122,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in EOG Resources during the 2nd quarter valued at approximately $238,000. Grandfield & Dodd LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $400,000. Finally, Argyle Capital Partners LLC bought a new stake in EOG Resources in the 2nd quarter worth approximately $632,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $148.68 on Wednesday. The company has a market capitalization of $77.99 billion, a price-to-earnings ratio of 11.57 and a beta of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The firm's 50-day moving average is $137.92 and its 200 day moving average is $134.33. 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 (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the firm earned $2.32 earnings per share. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts predict that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 16th. EOG Resources's dividend payout ratio is presently 31.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EOG. Truist Financial increased their target price on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Susquehanna reaffirmed a "positive" rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Sanford C. Bernstein lowered their price objective on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $156.00.

EOG Resources 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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