SCS Capital Management LLC Invests $1.42 Million in EOG Resources, Inc. $EOG

SCS Capital Management LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,907 shares of the energy exploration company’s stock, valued at approximately $1,415,000.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in EOG Resources in the 2nd quarter valued at $654,899,000. Sandro Wealth Management LLC acquired a new stake in EOG Resources in the 2nd quarter worth $434,000. Focus Partners Advisor Solutions LLC bought a new position in shares of EOG Resources during the 2nd quarter worth about $2,206,000. State of Wyoming bought a new position in shares of EOG Resources during the 2nd quarter worth about $308,000. Finally, S&CO Inc. acquired a new position in shares of EOG Resources during the second quarter valued at about $1,409,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EOG shares. Sanford C. Bernstein reduced their target price 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. Weiss Ratings restated a “buy (b-)” rating on shares of EOG Resources in a research note on Friday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $183.00 price target on shares of EOG Resources in a report on Monday, August 3rd. Roth Capital reiterated a “neutral” rating and issued a $138.00 price objective on shares of EOG Resources in a research report on Wednesday, August 5th. Finally, Barclays raised their price objective on EOG Resources from $140.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus target price of $156.21.

EOG Resources Price Performance

Shares of EOG stock opened at $142.55 on Monday. The stock’s fifty day simple moving average is $137.57 and its 200 day simple moving average is $133.80. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The firm has a market cap of $74.77 billion, a price-to-earnings ratio of 11.09 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 issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the business earned $2.32 earnings per share. The business’s revenue was up 57.4% on a year-over-year basis. On average, analysts expect that EOG Resources, Inc. will post 16.43 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is currently 31.75%.

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.