Norden Group LLC Grows Stock Position in EOG Resources, Inc. (NYSE:EOG)

Norden Group LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2,535.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,136 shares of the energy exploration company’s stock after purchasing an additional 65,551 shares during the quarter. Norden Group LLC’s holdings in EOG Resources were worth $8,710,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EOG. McIlrath & Eck LLC increased its stake in shares of EOG Resources by 77.6% during the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after buying an additional 104 shares during the period. Exchange Traded Concepts LLC raised its holdings in EOG Resources by 530.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after acquiring an additional 212 shares in the last quarter. Sachetta LLC acquired a new stake in EOG Resources in the fourth quarter valued at approximately $33,000. Hall Laurie J Trustee acquired a new stake in EOG Resources in the fourth quarter valued at approximately $36,000. Finally, Keener Financial Planning LLC acquired a new stake in EOG Resources in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. KeyCorp initiated coverage on shares of EOG Resources in a report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 target price on the stock. Mizuho raised their price objective on shares of EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Susquehanna raised their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. Finally, Piper Sandler raised their price objective on shares of EOG Resources from $153.00 to $154.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $143.19.

EOG Resources Stock Performance

Shares of EOG stock opened at $126.77 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $125.79 and its 200 day moving average price is $122.56. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The stock has a market capitalization of $72.86 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.75 and a beta of 1.30.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $2.69 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that EOG Resources, Inc. will post 12.06 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s payout ratio is 28.75%.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 2,685 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the transaction, the executive vice president now owns 109,040 shares in the company, valued at approximately $14,206,821.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael P. Donaldson sold 2,685 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the sale, the executive vice president now owns 109,040 shares of the company’s stock, valued at approximately $14,206,821.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the sale, the president now directly owns 161,109 shares in the company, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,512 shares of company stock worth $2,144,972. Company insiders own 0.20% of the company’s stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.