Oppenheimer Asset Management Inc. Purchases New Shares in EOG Resources, Inc. $EOG

Key Points

• Oppenheimer Asset Management acquired 55,502 shares of EOG Resources in the second quarter, valued at approximately $7.2 million. Institutional investors collectively own 89.91% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $156.21; individual targets range from $142 to $175.
• EOG exceeded quarterly earnings and revenue expectations, reporting $5.07 EPS and $8.62 billion in revenue, while announcing a quarterly dividend of $1.02 per share, equivalent to a 2.9% annualized yield.

Oppenheimer Asset Management 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 55,502 shares of the energy exploration company's stock, valued at approximately $7,200,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its holdings in shares of EOG Resources by 225.5% in the 1st 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. Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources in the fourth quarter worth about $30,000. Finally, Financial Life Planners bought a new stake in EOG Resources during the first quarter worth approximately $30,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. JPMorgan Chase & Co. cut their target price on EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Mizuho set a $157.00 price target on EOG Resources and gave the company a "neutral" rating in a report on Wednesday, May 27th. Susquehanna restated a "positive" rating and issued a $170.00 price target (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. Finally, Truist Financial lifted their price objective on shares of EOG Resources from $134.00 to $153.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $156.21.

EOG Resources Trading Up 0.8%

EOG opened at $142.55 on Friday. The stock has a market cap of $74.77 billion, a price-to-earnings ratio of 11.09 and a beta of 0.25. The stock's 50 day moving average price is $137.57 and its 200-day moving average price is $133.62. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85.

EOG Resources (NYSE:EOG - Get Free Report) last issued 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 the consensus estimate of $8.04 billion. During the same period in the prior year, the business posted $2.32 earnings per share. The company's revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities analysts forecast that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Dividend Announcement

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 given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is 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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