Mirae Asset Global Investments Co. Ltd. boosted its holdings in EOG Resources, Inc. (NYSE:EOG – Free Report) by 12.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 206,474 shares of the energy exploration company’s stock after acquiring an additional 23,089 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in EOG Resources were worth $23,629,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in shares of EOG Resources during the second quarter worth $25,000. Fortis Capital Advisors LLC bought a new stake in shares of EOG Resources in the 4th quarter valued at about $28,000. Pinnacle Holdings LLC acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $25,000. Lumature Wealth Partners LLC bought a new position in EOG Resources during the 1st quarter worth approximately $28,000. Finally, Kalos Management Inc. acquired a new position in EOG Resources during the first quarter valued at approximately $27,000. 89.21% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on EOG shares. Tudor, Pickering, Holt & Co. cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Susquehanna lowered their price target on EOG Resources from $165.00 to $164.00 and set a “positive” rating for the company in a report on Wednesday, October 18th. StockNews.com started coverage on EOG Resources in a report on Thursday, October 5th. They set a “hold” rating on the stock. TD Securities increased their target price on EOG Resources from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Jefferies Financial Group lifted their price target on shares of EOG Resources from $141.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.77.
EOG Resources Stock Up 1.0 %
Shares of EOG opened at $125.23 on Tuesday. The firm has a market cap of $73.03 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.36 and a beta of 1.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 2.43. EOG Resources, Inc. has a 52 week low of $98.52 and a 52 week high of $144.91. The firm’s 50-day simple moving average is $127.24 and its 200 day simple moving average is $122.54.
EOG Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be paid a dividend of $0.91 per share. The ex-dividend date is Tuesday, January 16th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from EOG Resources’s previous quarterly dividend of $0.83. EOG Resources’s dividend payout ratio (DPR) is 24.52%.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company.
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