SCP Investment LP Purchases Shares of 13,200 EOG Resources, Inc. $EOG

Key Points

• SCP Investment LP opened a new position in EOG Resources in the fourth quarter, buying 13,200 shares valued at about $1.39 million.
• EOG has drawn generally positive attention from Wall Street, with several analysts raising price targets and the stock carrying a Moderate Buy consensus and an average target of $156.39.
• The company reported strong quarterly results, beating earnings and revenue estimates, and also announced a quarterly dividend of $1.02 per share payable July 31.

SCP Investment LP acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,200 shares of the energy exploration company's stock, valued at approximately $1,386,000. EOG Resources comprises 1.1% of SCP Investment LP's holdings, making the stock its 23rd largest position.

Several other hedge funds also recently modified their holdings of the stock. Capital World Investors increased its position in shares of EOG Resources by 1.4% in the third quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company's stock valued at $6,156,495,000 after acquiring an additional 782,426 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 valued at $5,651,172,000 after purchasing an additional 446,341 shares in the last quarter. Capital Research Global Investors increased its position in shares of EOG Resources by 0.5% during the 3rd quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company's stock worth $2,794,784,000 after purchasing an additional 122,486 shares during the last quarter. Geode Capital Management LLC increased its position in shares of EOG Resources by 0.7% during 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 last quarter. Finally, Northern Trust Corp raised its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Northern Trust Corp now owns 5,974,950 shares of the energy exploration company's stock worth $669,911,000 after purchasing an additional 49,987 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on EOG Resources from $155.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Susquehanna upped their price target on shares of EOG Resources from $144.00 to $162.00 and gave the stock a "positive" rating in a research report on Tuesday, April 21st. Jefferies Financial Group increased their price target on shares of EOG Resources from $146.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Wolfe Research boosted their price objective on shares of EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Finally, Wall Street Zen raised shares of EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of "Moderate Buy" and an average price target of $156.39.

EOG Resources Stock Up 1.6%

EOG opened at $138.75 on Wednesday. The stock's fifty day simple moving average is $137.96 and its 200 day simple moving average is $122.05. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The stock has a market cap of $73.90 billion, a PE ratio of 13.66 and a beta of 0.25. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the previous year, the business posted $2.87 earnings per share. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts expect that EOG Resources, Inc. will post 15.67 earnings per share for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. EOG Resources's payout ratio is presently 40.16%.

Insider Transactions at EOG Resources

In other EOG Resources news, CFO Ann D. Janssen sold 4,161 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, the chief financial officer directly owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the sale, the chief operating officer owned 88,045 shares of the company's stock, valued at approximately $13,234,924.40. This represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,456 shares of company stock worth $1,788,033. 0.14% of the stock is owned by company insiders.

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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