SCS Capital Management LLC Buys Shares of 10,907 EOG Resources, Inc. $EOG

Key Points

• SCS Capital Management purchased 10,907 EOG Resources shares worth approximately $1.415 million, while institutional investors and hedge funds collectively own 89.91% of the company.
• EOG reported quarterly EPS of $5.07 and revenue of $8.62 billion, exceeding analyst estimates; revenue increased 57.4% year over year.
• Analysts’ consensus rating is “Hold”, with an average price target of $156.21 versus the stock’s $142.55 price. EOG also declared a quarterly dividend of $1.02, representing a 2.9% annualized yield.

SCS Capital Management LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,907 shares of the energy exploration company's stock, valued at approximately $1,415,000.

A number of other hedge funds have also modified their holdings of EOG. Ilmarinen Mutual Pension Insurance Co grew its position in EOG Resources by 39.2% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company's stock worth $9,136,000 after acquiring an additional 24,500 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of EOG Resources by 66.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock valued at $2,073,000 after purchasing an additional 7,877 shares in the last quarter. Cumberland Partners Ltd raised its holdings in shares of EOG Resources by 432.0% during the 4th quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company's stock valued at $1,625,000 after purchasing an additional 12,562 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of EOG Resources by 2.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock valued at $123,451,000 after purchasing an additional 24,984 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of EOG Resources by 8.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company's stock valued at $32,541,000 after purchasing an additional 24,960 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a report on Thursday, July 2nd. Stephens cut their target price on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Roth Capital reaffirmed a "neutral" rating and issued a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. Williams Trading set a $177.00 price target on EOG Resources in a research note on Monday, April 20th. Finally, Truist Financial increased their price objective on EOG Resources from $134.00 to $153.00 and gave the company a "hold" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, EOG Resources presently has an average rating of "Hold" and an average target price of $156.21.

EOG Resources Price Performance

NYSE EOG opened at $142.55 on Monday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a fifty day simple moving average of $137.57 and a 200 day simple moving average of $133.80. 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 market cap of $74.77 billion, a P/E ratio of 11.09 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business's quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.32 EPS. On average, sell-side analysts predict that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is currently 31.75%.

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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