Coastal Bridge Advisors LLC Takes $677,000 Position in EOG Resources, Inc. $EOG

Coastal Bridge Advisors LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,221 shares of the energy exploration company’s stock, valued at approximately $677,000.

Several other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in EOG Resources in the second quarter worth about $5,905,587,000. State Street Corp boosted its holdings in EOG Resources by 0.3% during the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after purchasing an additional 100,080 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of EOG Resources by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after purchasing an additional 371,548 shares during the period. Geode Capital Management LLC grew its stake in shares of EOG Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock valued at $1,364,309,000 after purchasing an additional 95,260 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of EOG Resources by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company’s stock worth $683,382,000 after buying an additional 122,112 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Down 0.7%

Shares of EOG opened at $143.53 on Friday. The company has a market capitalization of $75.29 billion, a P/E ratio of 11.17, a PEG ratio of 0.54 and a beta of 0.25. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $153.67. The business’s 50 day simple moving average is $140.20 and its 200-day simple moving average is $136.19. 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 released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share 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 firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the firm posted $2.32 EPS. The business’s revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts predict that EOG Resources, Inc. will post 16.87 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

EOG has been the subject of several analyst reports. DA Davidson raised their target price on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Roth Capital reiterated a “neutral” rating and set a $138.00 price objective on shares of EOG Resources in a research note on Wednesday, August 5th. Stephens cut their price objective on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Sanford C. Bernstein reduced their target price on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 20th. Finally, Barclays set a $147.00 target price on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $156.33.

Insider Buying and Selling at EOG Resources

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

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.