Morris Capital Advisors LLC raised its stake in EOG Resources, Inc. (NYSE:EOG – Get Rating) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,431 shares of the energy exploration company’s stock after acquiring an additional 755 shares during the quarter. EOG Resources makes up approximately 2.6% of Morris Capital Advisors LLC’s investment portfolio, making the stock its 18th largest position. Morris Capital Advisors LLC’s holdings in EOG Resources were worth $2,919,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new position in EOG Resources in the 1st quarter valued at approximately $231,000. Valeo Financial Advisors LLC acquired a new stake in EOG Resources during the 1st quarter valued at approximately $223,000. Rehmann Capital Advisory Group acquired a new stake in EOG Resources during the 1st quarter valued at approximately $314,000. Burney Co. acquired a new stake in EOG Resources during the 1st quarter valued at approximately $216,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in EOG Resources during the 1st quarter valued at approximately $2,135,000. Institutional investors own 88.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on EOG. Mizuho decreased their target price on shares of EOG Resources from $173.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, August 18th. Barclays reduced their price objective on shares of EOG Resources from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Citigroup raised their price objective on shares of EOG Resources from $130.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, KeyCorp initiated coverage on shares of EOG Resources in a research report on Monday. They set an “overweight” rating and a $157.00 price objective for the company. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.85.
EOG Resources Stock Down 7.1 %
EOG Resources (NYSE:EOG – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($1.51). EOG Resources had a net margin of 25.71% and a return on equity of 32.03%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the business posted $1.73 earnings per share. EOG Resources’s revenue was up 79.0% on a year-over-year basis. Equities analysts predict that EOG Resources, Inc. will post 15.61 earnings per share for the current year.
EOG Resources Increases Dividend
The firm also recently announced a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a dividend of $1.50 per share. This is a boost from EOG Resources’s previous special dividend of $1.00. The ex-dividend date of this dividend is Wednesday, September 14th. EOG Resources’s payout ratio is presently 30.77%.
EOG Resources Company Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.
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