Canada Pension Plan Investment Board Acquires 679,913 Shares of EOG Resources, Inc. $EOG

Canada Pension Plan Investment Board increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 154.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,119,935 shares of the energy exploration company’s stock after buying an additional 679,913 shares during the period. Canada Pension Plan Investment Board’s holdings in EOG Resources were worth $145,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in shares of EOG Resources during the second quarter valued at $258,000. Quantbot Technologies LP bought a new stake in EOG Resources in the 2nd quarter worth about $349,000. Gamco Investors INC. ET AL raised its position in EOG Resources by 216.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock worth $785,000 after buying an additional 4,485 shares during the last quarter. NewEdge Advisors LLC raised its position in EOG Resources by 2.0% in the 2nd quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock worth $2,725,000 after buying an additional 444 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in EOG Resources by 4.4% during the 2nd quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock valued at $43,356,000 after acquiring an additional 15,250 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EOG. The Goldman Sachs Group restated a “neutral” rating and issued a $151.00 target price (up from $127.00) on shares of EOG Resources in a report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Truist Financial upped their price objective on EOG Resources from $134.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Freedom Capital downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Stephens dropped their target price on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $156.00.

EOG Resources Trading Down 1.3%

Shares of EOG Resources stock opened at $144.95 on Thursday. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $153.67. 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 company has a market capitalization of $76.03 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.54 and a beta of 0.25. The company has a fifty day moving average of $139.64 and a 200 day moving average of $135.92.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating 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 business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the firm earned $2.32 earnings per share. The business’s quarterly revenue was up 57.4% on a year-over-year basis. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 16.87 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Insider Transactions at EOG Resources

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the business’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 value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.