BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 41,242 Shares of EOG Resources, Inc. (NYSE:EOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 59.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 111,085 shares of the energy exploration company’s stock after acquiring an additional 41,242 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EOG Resources were worth $13,982,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in EOG Resources in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in EOG Resources during the 2nd quarter worth $28,000. Gladius Capital Management LP acquired a new stake in EOG Resources during the 2nd quarter worth $30,000. Triad Wealth Partners LLC bought a new position in EOG Resources during the second quarter worth about $35,000. Finally, Norwood Financial Corp acquired a new position in EOG Resources in the first quarter valued at about $37,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. UBS Group lowered their price target on EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna lowered their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler lowered their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $147.00 target price on shares of EOG Resources in a research report on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $142.89.

EOG Resources Trading Up 0.2 %

NYSE:EOG opened at $127.95 on Wednesday. EOG Resources, Inc. has a 52 week low of $108.94 and a 52 week high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The firm’s fifty day moving average is $125.48 and its 200-day moving average is $126.76. The firm has a market cap of $73.53 billion, a P/E ratio of 10.11, a P/E/G ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 earnings per share. Equities analysts expect that EOG Resources, Inc. will post 12.2 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders sold 21,537 shares of company stock worth $2,751,612 in the last quarter. 0.30% of the stock is owned by corporate insiders.

EOG Resources 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.