EOG Resources, Inc. $EOG Stock Holdings Raised by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 54.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,020 shares of the energy exploration company’s stock after purchasing an additional 4,947 shares during the period. Precedent Wealth Partners LLC’s holdings in EOG Resources were worth $1,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EOG. BlackRock Inc. purchased a new position in EOG Resources in the 2nd quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP boosted its stake in EOG Resources by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after purchasing an additional 54,091 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in EOG Resources during the 2nd quarter valued at $654,899,000. Bank of America Corp DE purchased a new stake in EOG Resources during the 2nd quarter valued at $551,321,000. Finally, First Trust Advisors LP increased its holdings in shares of EOG Resources by 15.7% in the 1st quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock worth $498,189,000 after purchasing an additional 468,090 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Activity

In other news, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at $14,882,584. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 9,039 shares of EOG Resources stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the transaction, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. This represents a 9.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,317 shares of company stock valued at $7,823,480 in the last quarter. 0.14% of the stock is currently owned by insiders.

EOG Resources Stock Down 0.1%

Shares of EOG Resources stock opened at $157.79 on Friday. The company has a market cap of $82.76 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.56 and a beta of 0.36. The company’s 50 day moving average is $147.21 and its 200 day moving average is $140.65. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $160.31. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same quarter last year, the company posted $2.32 earnings per share. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Research analysts anticipate that EOG Resources, Inc. will post 17.48 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is 31.75%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Capital One Financial cut EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a research note on Wednesday, August 26th. Freedom Capital downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. UBS Group reaffirmed a “buy” rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research report on Friday, October 9th. Stifel Nicolaus initiated coverage on EOG Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $158.00 price objective on the stock. Finally, Truist Financial lifted their price objective on EOG Resources from $153.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus target price of $161.24.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.