Rakuten Investment Management Inc. Makes New Investment in EOG Resources, Inc. $EOG

Key Points

• Rakuten Investment Management initiated a stake of 87,294 EOG Resources shares during the second quarter, valued at approximately $11.5 million. Institutional investors collectively own 89.91% of EOG’s outstanding stock.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Analysts expect full-year earnings of $16.87 per share.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.8% yield. Despite a consensus analyst rating of “Hold,” the average price target is $156.33 versus the reported share price of $143.53.

Rakuten Investment Management Inc. bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 87,294 shares of the energy exploration company's stock, valued at approximately $11,517,000.

A number of other institutional investors also recently bought and sold shares of EOG. SJS Investment Consulting Inc. boosted its position in EOG Resources by 225.5% during 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 in the last quarter. Financial Life Planners purchased a new position in shares of EOG Resources during the 1st quarter worth approximately $30,000. Acumen Wealth Advisors LLC bought a new position in shares of EOG Resources in the 4th quarter worth approximately $25,000. Wedbush Fund Advisers LLC purchased a new position in shares of EOG Resources in the 2nd quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of EOG Resources during the fourth quarter valued at approximately $26,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

EOG opened at $143.53 on Friday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67. The firm has a market cap of $75.29 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.53 and a beta of 0.25. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $140.20 and a 200 day simple moving average of $136.19.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, beating 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 company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period last year, the firm earned $2.32 earnings per share. The company's revenue was up 57.4% on a year-over-year basis. Equities research analysts expect that EOG Resources, Inc. will post 16.87 EPS 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 paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is 31.75%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EOG shares. Citigroup restated a "neutral" rating and issued a $150.00 price objective (up from $141.00) on shares of EOG Resources in a report on Thursday. Truist Financial upped their price target on shares of EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a research report on Thursday, August 6th. DA Davidson increased their price target on shares of EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Freedom Capital downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $156.33.

Insiders Place Their Bets

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

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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