Redwood Investment Management LLC Invests $816,000 in EOG Resources, Inc. $EOG

Redwood Investment Management LLC bought a new stake in shares of EOG Resources, Inc. (NYSE:EOGFree Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,290 shares of the energy exploration company’s stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EOG. SJS Investment Consulting Inc. increased its holdings 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 worth $26,000 after buying an additional 124 shares during the last quarter. Financial Life Planners bought a new position in shares of EOG Resources in the 1st quarter valued at about $30,000. Acumen Wealth Advisors LLC bought a new position in shares of EOG Resources in the 4th quarter valued at about $25,000. Wedbush Fund Advisers LLC purchased a new position in EOG Resources in the second quarter worth about $31,000. Finally, Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter worth about $26,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the topic of several analyst reports. Susquehanna reissued a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. Mizuho set a $157.00 price objective on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Barclays set a $147.00 target price on EOG Resources and gave the stock an “equal weight” rating in a report on Monday, August 17th. Sanford C. Bernstein cut their target price on EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group restated a “buy” rating and set a $175.00 price target (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $156.33.

Get Our Latest Stock Analysis on EOG

Insider Buying and Selling at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

EOG Resources Trading Down 0.2%

EOG opened at $144.51 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The stock’s 50 day moving average price is $139.93 and its 200-day moving average price is $136.14. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $153.67. The stock has a market cap of $75.80 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.54 and a beta of 0.25.

EOG Resources (NYSE:EOGGet Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same period last year, the company earned $2.32 EPS. EOG Resources’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities analysts forecast that EOG Resources, Inc. will post 16.87 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. Shareholders of record on Friday, October 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.

About EOG Resources

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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