Perigon Wealth Management LLC Invests $487,000 in EOG Resources, Inc. $EOG

Perigon Wealth Management LLC bought a new position in EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to its most recent filing with the SEC. The firm bought 3,757 shares of the energy exploration company’s stock, valued at approximately $487,000.

Several other hedge funds have also bought and sold shares of EOG. Commerzbank Aktiengesellschaft FI bought a new stake in EOG Resources during the 2nd quarter valued at $958,000. Phillips Wealth Planners LLC bought a new position in shares of EOG Resources in the second quarter valued at $234,000. Trust Co. of Vermont bought a new position in shares of EOG Resources in the second quarter valued at $250,000. Principle Wealth Partners LLC bought a new position in shares of EOG Resources in the second quarter valued at $301,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of EOG Resources during the second quarter valued at about $168,029,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EOG shares. Scotiabank boosted their target price on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho set a $157.00 price target on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Susquehanna reissued a “positive” rating and set a $170.00 price objective (up from $166.00) on shares of EOG Resources in a report on Tuesday, July 21st. Finally, Zacks Research lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus target price of $155.41.

EOG Resources Stock Performance

NYSE EOG opened at $149.54 on Thursday. The company has a market capitalization of $78.44 billion, a PE ratio of 11.64 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The company has a 50-day simple moving average of $138.10 and a 200 day simple moving average of $134.59.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share 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 analysts’ expectations of $8.04 billion. During the same period in the previous year, the company earned $2.32 earnings per share. The company’s quarterly revenue was up 57.4% on a year-over-year basis. On average, research analysts predict that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio is 31.75%.

About EOG Resources

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.