Waterfront Wealth Inc. Purchases New Position in EOG Resources, Inc. $EOG

Waterfront Wealth Inc. acquired a new stake in EOG Resources, Inc. (NYSE:EOG) in the 1st quarter, Holdings Channel reports. The fund acquired 6,487 shares of the energy exploration company’s stock, valued at approximately $938,000.

Other hedge funds also recently made changes to their positions in the company. Hardy Reed LLC lifted its holdings in shares of EOG Resources by 3.8% in the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock valued at $325,000 after purchasing an additional 82 shares during the last quarter. Bollard Group LLC grew its stake in EOG Resources by 0.8% during the 3rd quarter. Bollard Group LLC now owns 11,747 shares of the energy exploration company’s stock worth $1,317,000 after buying an additional 93 shares during the last quarter. Fulton Bank N.A. grew its stake in EOG Resources by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company’s stock worth $662,000 after buying an additional 93 shares during the last quarter. Ethos Financial Group LLC grew its stake in EOG Resources by 2.5% during the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company’s stock worth $439,000 after buying an additional 100 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in EOG Resources by 0.4% during the fourth quarter. Sumitomo Life Insurance Co. now owns 22,784 shares of the energy exploration company’s stock worth $2,393,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EOG. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $148.00 to $142.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Citigroup cut their target price on shares of EOG Resources from $147.00 to $141.00 and set a “neutral” rating on the stock in a report on Wednesday. DA Davidson upped their price target on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Susquehanna increased their price target on shares of EOG Resources from $144.00 to $162.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Finally, Roth Capital reissued a “neutral” rating and set a $136.00 price objective on shares of EOG Resources in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.04.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $0.49 during trading on Friday, reaching $134.03. The company had a trading volume of 1,864,493 shares, compared to its average volume of 4,011,652. The firm has a market capitalization of $71.39 billion, a price-to-earnings ratio of 13.19 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock’s fifty day moving average price is $135.59 and its 200 day moving average price is $127.33. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. EOG Resources’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $2.87 EPS. As a group, equities research analysts predict that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. EOG Resources’s 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.