Palogic Value Management L.P. Invests $743,000 in EOG Resources, Inc. $EOG

Palogic Value Management L.P. acquired a new stake in EOG Resources, Inc. (NYSE:EOG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,727 shares of the energy exploration company’s stock, valued at approximately $743,000.

Several other large investors have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in EOG Resources during the 2nd quarter worth about $5,905,587,000. Bank of New York Mellon Corp acquired a new stake in shares of EOG Resources in the second quarter valued at about $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources during the second quarter worth about $551,321,000. Deutsche Bank AG bought a new position in shares of EOG Resources during the second quarter worth about $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of EOG Resources in the second quarter worth approximately $168,029,000. 89.91% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction 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 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 Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EOG has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of EOG Resources in a report on Friday, August 7th. Mizuho set a $157.00 price target on shares of EOG Resources and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $151.00 price objective (up from $127.00) on shares of EOG Resources in a research note on Monday. Freedom Capital cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein lowered 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and an average target price of $156.00.

EOG Resources Trading Down 1.3%

NYSE EOG opened at $144.95 on Thursday. The stock has a market capitalization of $76.03 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.54 and a beta of 0.25. The business has a 50 day simple moving average of $139.64 and a 200 day simple moving average of $135.92. 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, Inc. has a one year low of $101.59 and a one year high of $153.67.

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

EOG Resources Dividend Announcement

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

EOG Resources Profile

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.