EOG Resources, Inc. $EOG Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,143 shares of the energy exploration company’s stock after selling 15,666 shares during the quarter. Empowered Funds LLC’s holdings in EOG Resources were worth $42,958,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Energy Income Partners LLC raised its stake in shares of EOG Resources by 28.0% in the 1st quarter. Energy Income Partners LLC now owns 195,943 shares of the energy exploration company’s stock valued at $28,327,000 after purchasing an additional 42,814 shares in the last quarter. Evelyn Partners Investment Management LLP acquired a new position in EOG Resources in the first quarter worth about $4,462,000. Quantinno Capital Management LP grew its stake in EOG Resources by 68.5% in the first quarter. Quantinno Capital Management LP now owns 245,701 shares of the energy exploration company’s stock worth $35,521,000 after purchasing an additional 99,851 shares in the last quarter. Copley Financial Group Inc. increased its holdings in EOG Resources by 13.1% in the first quarter. Copley Financial Group Inc. now owns 4,218 shares of the energy exploration company’s stock valued at $610,000 after buying an additional 488 shares during the last quarter. Finally, Gateway Wealth Partners LLC bought a new stake in EOG Resources in the first quarter valued at about $706,000. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EOG shares. Truist Financial cut their price objective on EOG Resources from $149.00 to $134.00 and set a “hold” rating on the stock in a research note on Wednesday, July 1st. Capital One Financial decreased their target price on EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Citigroup lowered their price target on EOG Resources from $147.00 to $141.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. The Goldman Sachs Group dropped their price target on EOG Resources from $139.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.32.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $140.31 on Tuesday. The company has a market cap of $74.73 billion, a PE ratio of 13.81 and a beta of 0.25. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The firm has a 50-day simple moving average of $136.70 and a 200 day simple moving average of $130.32. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the company posted $2.87 earnings per share. EOG Resources’s revenue was up 22.1% on a year-over-year basis. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 16.16 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources’s dividend 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.