SteelPeak Wealth LLC Makes New $6.53 Million Investment in EOG Resources, Inc. (NYSE:EOG)

SteelPeak Wealth LLC purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,935 shares of the energy exploration company's stock, valued at approximately $6,532,000.

A number of other institutional investors and hedge funds have also made changes to their positions in EOG. Capital World Investors increased its stake in shares of EOG Resources by 5.2% during the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock worth $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. GAMMA Investing LLC increased its stake in shares of EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after acquiring an additional 1,272,765 shares during the period. Deutsche Bank AG increased its stake in shares of EOG Resources by 58.6% during the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock worth $255,139,000 after acquiring an additional 769,362 shares during the period. AQR Capital Management LLC increased its stake in shares of EOG Resources by 134.7% during the fourth quarter. AQR Capital Management LLC now owns 1,294,824 shares of the energy exploration company's stock worth $158,720,000 after acquiring an additional 743,202 shares during the period. Finally, Demars Financial Group LLC increased its stake in shares of EOG Resources by 12,422.5% during the fourth quarter. Demars Financial Group LLC now owns 643,156 shares of the energy exploration company's stock worth $78,838,000 after acquiring an additional 638,020 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Trading Up 1.1%

Shares of EOG traded up $1.35 on Friday, hitting $123.08. 2,215,902 shares of the stock traded hands, compared to its average volume of 3,416,102. The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $67.17 billion, a P/E ratio of 11.42, a P/E/G ratio of 9.93 and a beta of 0.76. The stock's 50 day moving average is $116.79 and its two-hundred day moving average is $121.34. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The company's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a dividend of $1.02 per share. This is an increase from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.31%. EOG Resources's dividend payout ratio is presently 36.18%.

Wall Street Analyst Weigh In

EOG has been the topic of several recent analyst reports. UBS Group restated a "buy" rating and set a $140.00 target price (up from $135.00) on shares of EOG Resources in a research report on Tuesday, June 3rd. Royal Bank Of Canada lowered their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Raymond James Financial upped their target price on shares of EOG Resources from $148.00 to $158.00 and gave the stock a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Mizuho lowered their target price on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has an average rating of "Hold" and a consensus price target of $139.00.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company's stock.

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.