Global Retirement Partners LLC Makes New Investment in EOG Resources, Inc. $EOG

Global Retirement Partners LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,625 shares of the energy exploration company’s stock, valued at approximately $2,416,000.

Several other large investors also recently made changes to their positions in the stock. 1ST Source Bank acquired a new position in EOG Resources during the second quarter worth $681,000. Fielder Capital Group LLC bought a new position in shares of EOG Resources in the 2nd quarter valued at about $757,000. Wilkinson Global Asset Management LLC bought a new position in shares of EOG Resources in the 2nd quarter valued at about $545,000. SCS Capital Management LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth about $1,415,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of EOG Resources during the 2nd quarter worth about $654,899,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $142.55 on Monday. The firm has a 50-day moving average of $137.57 and a 200-day moving average of $133.80. 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 cap of $74.77 billion, a PE ratio of 11.09 and a beta of 0.25. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the previous year, the firm posted $2.32 EPS. EOG Resources’s revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 16.43 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. Shareholders 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 annualized dividend and a yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EOG shares. JPMorgan Chase & Co. cut their target price on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Susquehanna reissued a “positive” rating and set a $170.00 price target (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. Jefferies Financial Group restated a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. The Goldman Sachs Group cut their price objective on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Morgan Stanley reduced their target price on EOG Resources from $160.00 to $156.00 and set an “equal weight” rating for the company in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.21.

EOG Resources Company Profile

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.