Empowered Funds LLC Takes $51.76 Million Position in EOG Resources, Inc. $EOG

Empowered Funds LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 398,969 shares of the energy exploration company’s stock, valued at approximately $51,758,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of EOG Resources during the fourth quarter worth approximately $25,000. Prosperity Bancshares Inc acquired a new stake in EOG Resources during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. raised its position in EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Nemes Rush Group LLC acquired a new position in EOG Resources in the fourth quarter worth $30,000. Finally, Gen Wealth Partners Inc acquired a new position in EOG Resources in the fourth quarter worth $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EOG shares. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Sanford C. Bernstein lowered their price objective on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, May 20th. Truist Financial upped their target price on shares of EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Zacks Research lowered shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Mizuho set a $157.00 price objective on EOG Resources and gave the stock a “neutral” rating in a report on Wednesday, May 27th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $156.33.

EOG Resources Stock Performance

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

EOG Resources (NYSE:EOG) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the company posted $2.32 earnings per share. The firm’s revenue was up 57.4% on a year-over-year basis. Equities research analysts forecast that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is currently 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.