Oxbow Advisors LLC Makes New $6.29 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Oxbow Advisors LLC initiated a $6.29 million position in EOG Resources, purchasing 48,461 shares during the second quarter. Institutional investors collectively own 89.91% of the company.
• Analysts have a mixed outlook, with EOG holding a consensus “Hold” rating and an average price target of $156.00; targets range from $142 to $175.
• EOG shares opened at $148.68, while the company reported quarterly EPS of $5.07 and revenue of $8.62 billion, exceeding estimates. EOG also announced a $1.02 quarterly dividend, equivalent to a 2.7% annualized yield.

Oxbow Advisors LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 48,461 shares of the energy exploration company's stock, valued at approximately $6,287,000.

Several other large investors have also made changes to their positions in EOG. Vanguard Group Inc. boosted its stake in shares of EOG Resources by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock worth $5,651,172,000 after acquiring an additional 446,341 shares during the period. BlackRock Inc. bought a new stake in EOG Resources during the 2nd quarter valued at approximately $5,905,587,000. State Street Corp lifted its holdings in EOG Resources by 0.3% in the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock worth $3,209,365,000 after purchasing an additional 100,080 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in EOG Resources by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock worth $2,099,028,000 after purchasing an additional 371,548 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in EOG Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company's stock worth $1,364,309,000 after purchasing an additional 95,260 shares during the period. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EOG shares. JPMorgan Chase & Co. cut their price objective on shares of EOG Resources from $148.00 to $142.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group reaffirmed a "buy" rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Sanford C. Bernstein reduced their price target on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a report on Wednesday, May 20th. Stephens decreased their price target on shares of EOG Resources from $170.00 to $167.00 in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of EOG Resources in a report on Friday, August 7th. One equities research 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 stock. According to MarketBeat, EOG Resources has an average rating of "Hold" and a consensus target price of $156.00.

EOG Resources Stock Up 1.7%

Shares of EOG opened at $148.68 on Wednesday. The stock 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 1 year low of $101.59 and a 1 year high of $151.87. The business's 50 day simple moving average is $137.92 and its 200-day simple moving average is $134.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating 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 firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the company earned $2.32 EPS. The company's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts expect that EOG Resources, Inc. will post 16.43 earnings per share for the current fiscal 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 dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources's dividend payout ratio (DPR) 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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