Cooke & Bieler LP cut its stake in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 30.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 465,218 shares of the energy exploration company’s stock after selling 198,955 shares during the quarter. Cooke & Bieler LP’s holdings in EOG Resources were worth $64,088,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in shares of EOG Resources during the second quarter valued at approximately $138,987,000. Punch & Associates Investment Management Inc. bought a new stake in shares of EOG Resources during the second quarter valued at approximately $11,746,000. Parvin Asset Management LLC bought a new stake in shares of EOG Resources during the second quarter valued at approximately $1,743,000. Transamerica Financial Advisors LLC bought a new stake in shares of EOG Resources during the second quarter valued at approximately $1,051,000. Finally, Rakuten Investment Management Inc. purchased a new position in EOG Resources in the 2nd quarter worth approximately $11,517,000. 89.91% of the stock is currently owned by institutional investors.
More EOG Resources News
Here are the key news stories impacting EOG Resources this week:
- Positive Sentiment: Analyst targets raised: Susquehanna lifted its price target to $187 and assigned a positive rating, implying meaningful upside from recent levels. BMO also increased its target from $170 to $175, signaling continued confidence in EOG’s outlook. Susquehanna raises EOG target to $187 BMO raises EOG target to $175
- Positive Sentiment: Better-than-expected results: EOG reported adjusted earnings of $5.07 per share, above the $4.97 consensus estimate. Revenue reached $8.62 billion versus expectations of $8.04 billion, while revenue increased 57.4% year over year. The results were attributed to production gains, efficient asset utilization and disciplined execution. EOG reports $5.07 adjusted EPS
- Positive Sentiment: Improving momentum: Recent earnings beats and upward profit-estimate revisions have helped EOG reach a new 52-week high, reinforcing investor confidence in its drilling efficiency, infrastructure investments and long-term profitability. What EOG’s earnings beat means for shareholders
- Neutral Sentiment: Valuation remains debated: Some analysis characterizes EOG as undervalued based on earnings and cash-flow potential, while another cautions that the stock may trade below fair value only after a roughly 113% five-year gain. The strong rally and elevated valuation could temper additional gains despite favorable fundamentals. EOG may trade below fair value after its run Is EOG undervalued?
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of EOG Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. UBS Group reiterated a “buy” rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. Citigroup reiterated a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research note on Thursday, August 27th. Scotiabank began coverage on EOG Resources in a report on Wednesday, October 14th. They issued a “sector perform” rating and a $144.00 target price for the company. Finally, Capital One Financial cut EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and a consensus price target of $161.24.
Check Out Our Latest Research Report on EOG Resources
EOG Resources Price Performance
EOG opened at $158.02 on Thursday. 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 has a market capitalization of $82.89 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.56 and a beta of 0.36. The company’s 50-day simple moving average is $146.89 and its two-hundred day simple moving average is $140.54. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $159.93.
EOG Resources (NYSE:EOG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the firm posted $2.32 EPS. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts predict that EOG Resources, Inc. will post 17.48 EPS for the current year.
EOG Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.6%. EOG Resources’s dividend payout ratio is 31.75%.
Insider Activity at EOG Resources
In related news, EVP Michael Donaldson sold 7,336 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ezra Yacob sold 35,942 shares of the firm’s stock in a transaction that occurred 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 owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 over the last quarter. Company insiders own 0.14% of the company’s stock.
EOG Resources Profile
EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.
The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.
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