Redwood Investment Management LLC Has $5.05 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Redwood Investment Management LLC increased its holdings in EOG Resources, Inc. by 30.2% in the first quarter, now owning 39,385 shares valued at approximately $5.05 million.
• EOG Resources reported earnings per share of $2.32 for the last quarter, surpassing expectations, but experienced a 9.1% year-over-year revenue decline.
• The company announced a quarterly dividend payout of $1.02 per share, marking an increase from the previous $0.98 dividend, with a dividend yield of 3.4%.

Redwood Investment Management LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,385 shares of the energy exploration company's stock after purchasing an additional 9,145 shares during the period. EOG Resources makes up 0.5% of Redwood Investment Management LLC's portfolio, making the stock its 29th largest position. Redwood Investment Management LLC's holdings in EOG Resources were worth $5,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hancock Whitney Corp raised its holdings in EOG Resources by 5.7% in the fourth quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock valued at $211,000 after buying an additional 92 shares during the period. Granite Harbor Advisors Inc. raised its stake in shares of EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock valued at $389,000 after purchasing an additional 94 shares during the period. FSM Wealth Advisors LLC raised its stake in shares of EOG Resources by 6.2% during the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after purchasing an additional 95 shares during the period. Sigma Planning Corp raised its stake in shares of EOG Resources by 1.6% during the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after purchasing an additional 97 shares during the period. Finally, Bank of Jackson Hole Trust raised its stake in shares of EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

EOG Resources Stock Up 0.4%

NYSE:EOG traded up $0.55 on Friday, hitting $124.89. 1,737,955 shares of the company's stock traded hands, compared to its average volume of 2,737,268. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The firm has a 50-day moving average price of $120.07 and a 200-day moving average price of $119.00. The company has a market cap of $68.19 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 9.50 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period in the previous year, the company earned $3.16 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Melius Research began coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective for the company. Bank of America cut their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Mizuho cut their target price on EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $143.61.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.