QRG Capital Management Inc. Boosts Stake in EOG Resources, Inc. $EOG

QRG Capital Management Inc. lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 18.8% in the first quarter, HoldingsChannel.com reports. The fund owned 90,190 shares of the energy exploration company’s stock after acquiring an additional 14,289 shares during the quarter. QRG Capital Management Inc.’s holdings in EOG Resources were worth $13,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. raised its position in EOG Resources by 225.5% during the first 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 in the last quarter. Financial Life Planners purchased a new position in shares of EOG Resources in the 1st quarter worth about $30,000. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources in the 4th quarter worth about $25,000. Prosperity Bancshares Inc bought a new position in shares of EOG Resources during the 4th quarter valued at about $26,000. Finally, Gen Wealth Partners Inc bought a new position in shares of EOG Resources during the 4th quarter valued at about $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of research reports. Barclays raised their price objective on EOG Resources from $140.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Piper Sandler increased their price target on shares of EOG Resources from $144.00 to $147.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Morgan Stanley decreased their price target on shares of EOG Resources from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, DA Davidson upped their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.25.

EOG Resources Trading Up 0.0%

NYSE EOG opened at $130.81 on Friday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $135.71 and a 200-day moving average of $126.27. The firm has a market cap of $69.67 billion, a PE ratio of 12.87 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the company earned $2.87 EPS. EOG Resources’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 16.23 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s payout ratio is presently 40.16%.

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.