NewEdge Advisors LLC Has $11.34 Million Position in EOG Resources, Inc. $EOG

Key Points

• NewEdge Advisors increased its EOG Resources stake by 68% in the second quarter, ending with 87,430 shares valued at approximately $11.34 million. Institutional investors and hedge funds collectively own 89.91% of EOG.
• EOG’s latest quarterly results exceeded expectations, with earnings of $5.07 per share and revenue of $8.62 billion, up 57.4% year over year. The company also declared a quarterly dividend of $1.02, equivalent to a 2.8% annualized yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $157.07 versus the stock’s reported $147.27 price. CEO Ezra Yacob sold 35,942 shares at an average price of $152.10.

NewEdge Advisors LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 68.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,430 shares of the energy exploration company's stock after buying an additional 35,382 shares during the quarter. NewEdge Advisors LLC's holdings in EOG Resources were worth $11,342,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Summitry LLC grew its stake in shares of EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company's stock worth $699,000 after purchasing an additional 73 shares during the last quarter. Twin Capital Management Inc. raised its position in EOG Resources by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company's stock worth $3,467,000 after purchasing an additional 79 shares during the last quarter. Sax Wealth Advisors LLC raised its position in EOG Resources by 2.8% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company's stock worth $377,000 after purchasing an additional 79 shares during the last quarter. Paladin Wealth LLC lifted its holdings in EOG Resources by 5.3% during the 2nd quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company's stock worth $207,000 after buying an additional 80 shares during the period. Finally, Hardy Reed LLC lifted its holdings in EOG Resources by 3.8% during the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock worth $325,000 after buying an additional 82 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EOG has been the subject of several recent research reports. Sanford C. Bernstein decreased their price target on EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research note on Wednesday, May 20th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $183.00 price objective on shares of EOG Resources in a research note on Monday, August 3rd. Truist Financial upped their target price on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Barclays set a $147.00 target price on EOG Resources and gave the company an "equal weight" rating in a report on Monday, August 17th. Finally, Wall Street Zen downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eighteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $157.07.

EOG Resources Stock Down 0.1%

Shares of NYSE:EOG opened at $147.27 on Friday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $153.67. 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's 50-day moving average is $143.10 and its 200-day moving average is $138.10. The company has a market capitalization of $77.25 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.55 and a beta of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping 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 business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the previous year, the company posted $2.32 earnings per share. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts predict that EOG Resources, Inc. will post 16.89 earnings per share for the current year.

EOG Resources Announces Dividend

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 paid a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources's payout ratio is currently 31.75%.

Insider Buying and Selling at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company's principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

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