Signet Financial Management LLC Boosts Stake in EOG Resources, Inc. $EOG

Signet Financial Management LLC lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 62.7% in the first quarter, HoldingsChannel.com reports. The fund owned 28,539 shares of the energy exploration company’s stock after acquiring an additional 11,002 shares during the quarter. Signet Financial Management LLC’s holdings in EOG Resources were worth $4,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after purchasing an additional 1,257,110 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of EOG Resources by 70.5% in the 4th quarter. First Trust Advisors LP now owns 2,977,912 shares of the energy exploration company’s stock worth $312,711,000 after purchasing an additional 1,231,366 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of EOG Resources by 474.7% in the 4th quarter. Marshall Wace LLP now owns 1,318,254 shares of the energy exploration company’s stock worth $138,430,000 after purchasing an additional 1,088,867 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of EOG Resources by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after purchasing an additional 901,897 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of EOG Resources during the 3rd quarter valued at about $87,193,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

NYSE:EOG opened at $138.10 on Wednesday. The firm has a market cap of $73.56 billion, a PE ratio of 13.59 and a beta of 0.25. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The business has a 50 day moving average price of $135.51 and a 200-day moving average price of $127.99.

EOG Resources (NYSE:EOG) last issued its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the firm earned $2.87 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that EOG Resources, Inc. will post 16.18 earnings per share for the current year.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. EOG Resources’s payout ratio is presently 40.16%.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent research reports. Truist Financial dropped their target price on EOG Resources from $149.00 to $134.00 and set a “hold” rating for the company in a research report on Wednesday, July 1st. Mizuho set a $157.00 price target on shares of EOG Resources and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Williams Trading set a $177.00 price objective on shares of EOG Resources in a report on Monday, April 20th. BMO Capital Markets upped their price objective on shares of EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, Wells Fargo & Company set a $196.00 target price on shares of EOG Resources and gave the company an “overweight” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.04.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand?alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.