Van ECK Associates Corp Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

Posted by on May 14th, 2023

Van ECK Associates Corp lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,491 shares of the energy exploration company’s stock after buying an additional 711 shares during the quarter. Van ECK Associates Corp’s holdings in EOG Resources were worth $1,229,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EOG. Lumature Wealth Partners LLC purchased a new stake in shares of EOG Resources during the 1st quarter worth approximately $28,000. Kistler Tiffany Companies LLC acquired a new position in shares of EOG Resources in the 4th quarter valued at $30,000. Larson Financial Group LLC acquired a new position in shares of EOG Resources in the 3rd quarter valued at $31,000. Eagle Bay Advisors LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at $33,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of EOG Resources by 1,436.8% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock valued at $34,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EOG shares. Truist Financial lifted their target price on shares of EOG Resources from $146.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. StockNews.com initiated coverage on shares of EOG Resources in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price objective on shares of EOG Resources from $167.00 to $158.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 8th. Morgan Stanley dropped their price objective on shares of EOG Resources from $140.00 to $132.00 and set an “overweight” rating on the stock in a research note on Monday, March 27th. Finally, Credit Suisse Group dropped their price objective on shares of EOG Resources from $160.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.42.

EOG Resources Price Performance

EOG Resources stock opened at $110.42 on Friday. EOG Resources, Inc. has a 52 week low of $92.16 and a 52 week high of $150.88. The company has a quick ratio of 1.90, a current ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $114.35 and its 200 day simple moving average is $125.25. The firm has a market capitalization of $64.58 billion, a PE ratio of 6.91, a P/E/G ratio of 0.34 and a beta of 1.53.

EOG Resources (NYSE:EOG – Get Rating) last released its quarterly earnings data on Friday, May 5th. The energy exploration company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.42 by $0.27. EOG Resources had a net margin of 33.83% and a return on equity of 30.34%. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the firm earned $4.00 EPS. The business’s revenue for the quarter was up 51.7% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources, Inc. will post 11.76 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be issued a $0.825 dividend. The ex-dividend date is Friday, July 14th. This represents a $3.30 dividend on an annualized basis and a yield of 2.99%. EOG Resources’s dividend payout ratio (DPR) is 20.64%.

EOG Resources Profile

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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.

See Also

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

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