ZWJ Investment Counsel Inc. cut its position in shares of EOG Resources Inc (NYSE:EOG) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,834 shares of the energy exploration company’s stock after selling 521 shares during the period. ZWJ Investment Counsel Inc.’s holdings in EOG Resources were worth $2,717,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP purchased a new position in EOG Resources in the fourth quarter valued at approximately $1,840,000. Elkfork Partners LLC bought a new position in shares of EOG Resources in the fourth quarter worth $1,263,000. LPL Financial LLC increased its holdings in shares of EOG Resources by 6.7% in the fourth quarter. LPL Financial LLC now owns 75,973 shares of the energy exploration company’s stock worth $8,198,000 after purchasing an additional 4,795 shares during the period. Verition Fund Management LLC bought a new position in shares of EOG Resources in the fourth quarter worth $425,000. Finally, Vident Investment Advisory LLC increased its holdings in shares of EOG Resources by 104.6% in the fourth quarter. Vident Investment Advisory LLC now owns 7,496 shares of the energy exploration company’s stock worth $809,000 after purchasing an additional 3,832 shares during the period. 85.12% of the stock is currently owned by hedge funds and other institutional investors.
EOG has been the topic of several research analyst reports. TD Securities upped their price target on shares of EOG Resources from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Morgan Stanley initiated coverage on EOG Resources in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $128.00 target price on the stock. Zacks Investment Research upgraded shares of EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 target price for the company in a report on Monday, July 9th. Societe Generale upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, Stifel Nicolaus set a $146.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a report on Monday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $134.38.
Shares of EOG stock opened at $122.77 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 0.98. EOG Resources Inc has a 12-month low of $81.99 and a 12-month high of $131.60. The company has a market capitalization of $70.84 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.91 and a beta of 0.99.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.95 billion. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. EOG Resources’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. equities analysts predict that EOG Resources Inc will post 5.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be issued a $0.22 dividend. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, October 16th. EOG Resources’s payout ratio is currently 66.07%.
About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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