Summit Global Investments Makes New $1.98 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Summit Global Investments purchased 15,277 EOG Resources shares worth approximately $1.98 million in the second quarter, while institutional investors collectively own 89.91% of the company.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, with revenue rising 57.4% year over year to $8.62 billion.
• Analysts’ consensus rating is “Hold”, with an average price target of $156.21; EOG also announced a quarterly dividend of $1.02 per share, representing a 2.9% yield.

Summit Global Investments purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,277 shares of the energy exploration company's stock, valued at approximately $1,982,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources in the fourth quarter worth about $25,000. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% in 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 during the last quarter. Prosperity Bancshares Inc purchased a new stake in EOG Resources during the 4th quarter valued at about $26,000. Nemes Rush Group LLC purchased a new stake in EOG Resources during the 4th quarter valued at about $30,000. Finally, Financial Life Planners bought a new position in EOG Resources during the 1st quarter worth approximately $30,000. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EOG shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of EOG Resources in a research note on Friday, August 7th. Wall Street Zen cut shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. UBS Group decreased their target price on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $193.00 price target (down from $196.00) on shares of EOG Resources in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of "Hold" and an average target price of $156.21.

EOG Resources Stock Up 0.8%

Shares of NYSE:EOG opened at $142.55 on Friday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a market cap of $74.77 billion, a PE ratio of 11.09 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The stock's 50-day moving average is $137.57 and its 200 day moving average is $133.62.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the company posted $2.32 EPS. EOG Resources's quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts anticipate that EOG Resources, Inc. will post 16.4 EPS for the current year.

EOG Resources Dividend Announcement

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