Meridian Wealth Advisors LLC Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Meridian Wealth Advisors LLC purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,562 shares of the energy exploration company’s stock, valued at approximately $200,000.

Several other hedge funds also recently made changes to their positions in EOG. Bank Pictet & Cie Europe AG grew its stake in shares of EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company’s stock worth $30,449,000 after acquiring an additional 89,521 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of EOG Resources during the 4th quarter worth approximately $492,000. Sandy Spring Bank grew its stake in shares of EOG Resources by 9.1% in the fourth quarter. Sandy Spring Bank now owns 6,805 shares of the energy exploration company’s stock valued at $834,000 after buying an additional 568 shares in the last quarter. Douglass Winthrop Advisors LLC bought a new position in shares of EOG Resources in the fourth quarter valued at $257,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of EOG Resources in the fourth quarter valued at $28,000. 89.91% of the stock is owned by institutional investors.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares of the company’s stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

EOG Resources Stock Down 0.7%

EOG opened at $117.63 on Friday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87. The company has a market capitalization of $64.20 billion, a P/E ratio of 10.91, a P/E/G ratio of 9.44 and a beta of 0.76. The stock has a fifty day moving average of $117.82 and a 200-day moving average of $121.28.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.92 billion. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. EOG Resources’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, equities analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. EOG Resources’s dividend payout ratio is 36.18%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EOG. Susquehanna decreased their target price on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Barclays raised their target price on shares of EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. KeyCorp decreased their target price on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reissued an “overweight” rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Roth Capital cut shares of EOG Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.81.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.