Redwood Investment Management LLC Makes New Investment in EOG Resources, Inc. $EOG

Redwood Investment Management LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,290 shares of the energy exploration company’s stock, valued at approximately $816,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ilmarinen Mutual Pension Insurance Co raised its position in EOG Resources by 39.2% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock valued at $9,136,000 after purchasing an additional 24,500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EOG Resources by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company’s stock valued at $123,451,000 after buying an additional 24,984 shares during the period. Cumberland Partners Ltd increased its stake in shares of EOG Resources by 432.0% during the fourth quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company’s stock valued at $1,625,000 after buying an additional 12,562 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of EOG Resources by 8.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company’s stock valued at $32,541,000 after acquiring an additional 24,960 shares in the last quarter. Finally, Qsemble Capital Management LP raised its holdings in shares of EOG Resources by 589.6% in the fourth quarter. Qsemble Capital Management LP now owns 59,247 shares of the energy exploration company’s stock valued at $6,222,000 after acquiring an additional 50,655 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of EOG stock opened at $144.51 on Friday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $153.67. The stock’s 50-day moving average is $139.93 and its 200 day moving average is $136.14. The company has a market cap of $75.80 billion, a P/E ratio of 11.25, a PEG ratio of 0.54 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

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 analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 earnings per share. Research analysts predict that EOG Resources, Inc. will post 16.87 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources’s payout ratio is presently 31.75%.

Insider Activity

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 $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on EOG. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Morgan Stanley set a $157.00 target price on shares of EOG Resources and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Sanford C. Bernstein lowered their price target 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. Finally, Roth Capital reiterated a “neutral” rating and set a $138.00 price objective on shares of EOG Resources in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued 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.

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.