Pin Oak Investment Advisors Inc. Purchases New Shares in EOG Resources, Inc. $EOG

Pin Oak Investment Advisors Inc. purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,382 shares of the energy exploration company’s stock, valued at approximately $2,644,000. EOG Resources comprises approximately 1.4% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 15th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in EOG. Sivia Capital Partners LLC bought a new position in shares of EOG Resources during the 2nd quarter worth approximately $258,000. Quantbot Technologies LP purchased a new stake in shares of EOG Resources during the second quarter valued at approximately $349,000. Gamco Investors INC. ET AL increased its position in shares of EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after acquiring an additional 4,485 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock worth $2,725,000 after acquiring an additional 444 shares during the period. Finally, Sei Investments Co. boosted its position in EOG Resources by 4.4% in the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after purchasing an additional 15,250 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays set a $147.00 target price on EOG Resources and gave the company an “equal weight” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. decreased their price objective 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. Roth Capital reiterated a “neutral” rating and issued a $138.00 target price on shares of EOG Resources in a research note on Wednesday, August 5th. Sanford C. Bernstein decreased 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 note on Wednesday, May 20th. Finally, Mizuho set a $157.00 price objective on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. One investment 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 company. According to MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $156.33.

EOG Resources Price Performance

NYSE EOG opened at $143.53 on Friday. 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 $75.29 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 0.54 and a beta of 0.25. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $153.67. The firm’s 50-day simple moving average is $140.20 and its two-hundred day simple moving average is $136.19.

EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the company earned $2.32 earnings per share. The company’s revenue was up 57.4% on a year-over-year basis. Research analysts predict that EOG Resources, Inc. will post 16.87 earnings per share for the current year.

EOG Resources Announces Dividend

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

Insider Activity

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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.