Oak Ridge Investments LLC reduced its position in EOG Resources Inc (NYSE:EOG) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,929 shares of the energy exploration company’s stock after selling 344 shares during the quarter. Oak Ridge Investments LLC’s holdings in EOG Resources were worth $4,657,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in EOG. Boston Family Office LLC grew its holdings in shares of EOG Resources by 27.0% during the 1st quarter. Boston Family Office LLC now owns 43,109 shares of the energy exploration company’s stock valued at $4,103,000 after purchasing an additional 9,152 shares during the last quarter. Inverness Counsel LLC NY grew its holdings in shares of EOG Resources by 21.6% during the 1st quarter. Inverness Counsel LLC NY now owns 330,771 shares of the energy exploration company’s stock valued at $31,483,000 after purchasing an additional 58,708 shares during the last quarter. Papp L Roy & Associates grew its holdings in shares of EOG Resources by 25.9% during the 1st quarter. Papp L Roy & Associates now owns 16,985 shares of the energy exploration company’s stock valued at $1,617,000 after purchasing an additional 3,489 shares during the last quarter. Marble Harbor Investment Counsel LLC grew its holdings in shares of EOG Resources by 1.7% during the 1st quarter. Marble Harbor Investment Counsel LLC now owns 68,685 shares of the energy exploration company’s stock valued at $6,537,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. grew its holdings in shares of EOG Resources by 5.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 14,081 shares of the energy exploration company’s stock valued at $1,340,000 after purchasing an additional 735 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
EOG has been the topic of several research reports. ValuEngine lowered shares of EOG Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Morgan Stanley set a $108.00 price target on shares of EOG Resources and gave the company a “hold” rating in a report on Wednesday, May 8th. KeyCorp lifted their price target on shares of EOG Resources from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Oppenheimer started coverage on shares of EOG Resources in a report on Wednesday, March 27th. They set an “outperform” rating and a $108.00 price target on the stock. Finally, Goldman Sachs Group lowered shares of EOG Resources to a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $121.84.
EOG traded down $1.69 during trading on Friday, reaching $87.16. 3,757,479 shares of the company’s stock were exchanged, compared to its average volume of 3,944,782. EOG Resources Inc has a one year low of $82.04 and a one year high of $133.53. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.94. The firm has a market capitalization of $50.58 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.17 and a beta of 1.24.
EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.92 billion. EOG Resources had a net margin of 19.35% and a return on equity of 17.10%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.19 EPS. As a group, equities research analysts predict that EOG Resources Inc will post 5.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from EOG Resources’s previous quarterly dividend of $0.22. EOG Resources’s payout ratio is 15.88%.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.
Further Reading: Cost of Goods Sold (COGS)
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