Pinnacle Associates Ltd. Has $677,000 Stock Position in EOG Resources, Inc. (NYSE:EOG)

Posted by on Apr 8th, 2023

Pinnacle Associates Ltd. lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,745 shares of the energy exploration company’s stock after selling 212 shares during the period. Pinnacle Associates Ltd.’s holdings in EOG Resources were worth $677,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EOG. Cetera Investment Advisers increased its holdings in EOG Resources by 16.0% in the 1st quarter. Cetera Investment Advisers now owns 16,031 shares of the energy exploration company’s stock worth $1,911,000 after purchasing an additional 2,213 shares in the last quarter. Moors & Cabot Inc. acquired a new position in EOG Resources in the 1st quarter worth about $404,000. Sequoia Financial Advisors LLC acquired a new position in EOG Resources in the 1st quarter worth about $278,000. Zions Bancorporation N.A. increased its holdings in EOG Resources by 237.7% in the 1st quarter. Zions Bancorporation N.A. now owns 1,155 shares of the energy exploration company’s stock worth $138,000 after purchasing an additional 813 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in EOG Resources by 23.7% in the 1st quarter. Brown Brothers Harriman & Co. now owns 662 shares of the energy exploration company’s stock worth $79,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

EOG Resources Price Performance

NYSE:EOG opened at $119.37 on Friday. EOG Resources, Inc. has a one year low of $92.16 and a one year high of $150.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.71 and a current ratio of 1.90. The firm has a market cap of $70.16 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.35 and a beta of 1.53. The firm’s fifty day moving average is $117.99 and its two-hundred day moving average is $126.10.

EOG Resources (NYSE:EOG – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The energy exploration company reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). EOG Resources had a return on equity of 34.95% and a net margin of 30.19%. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the company posted $3.09 EPS. The company’s revenue was up 11.2% on a year-over-year basis. Research analysts expect that EOG Resources, Inc. will post 12.07 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be issued a $0.825 dividend. The ex-dividend date is Thursday, April 13th. This represents a $3.30 dividend on an annualized basis and a yield of 2.76%. EOG Resources’s payout ratio is 24.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EOG. Mizuho decreased their price target on EOG Resources from $160.00 to $150.00 in a research note on Friday, March 10th. Barclays dropped their price target on EOG Resources from $152.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Raymond James dropped their price target on EOG Resources from $171.00 to $140.00 in a report on Monday, March 27th. JPMorgan Chase & Co. lowered their target price on EOG Resources from $156.00 to $153.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. Finally, Citigroup lowered their target price on EOG Resources from $160.00 to $122.00 in a research note on Friday, March 17th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.68.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, Director Michael T. Kerr acquired 20,000 shares of the business’s stock in a transaction on Thursday, January 12th. The stock was bought at an average price of $130.49 per share, for a total transaction of $2,609,800.00. Following the acquisition, the director now owns 170,000 shares in the company, valued at $22,183,300. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by insiders.

About EOG Resources

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EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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