Precedent Wealth Partners LLC Buys 4,947 Shares of EOG Resources, Inc. $EOG

Precedent Wealth Partners LLC boosted its stake in EOG Resources, Inc. (NYSE:EOG) by 54.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,020 shares of the energy exploration company’s stock after buying an additional 4,947 shares during the period. Precedent Wealth Partners LLC’s holdings in EOG Resources were worth $1,931,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $5,905,587,000. Dimensional Fund Advisors LP lifted its stake in shares of EOG Resources by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after purchasing an additional 54,091 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of EOG Resources by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock valued at $712,583,000 after purchasing an additional 259,015 shares during the period. Bank of America Corp DE purchased a new position in shares of EOG Resources in the 2nd quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP boosted its position in shares of EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after purchasing an additional 468,090 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EOG. Susquehanna upped their price target on EOG Resources from $170.00 to $187.00 and gave the stock a “positive” rating in a research note on Tuesday. Roth Capital restated a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $186.00 target price (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Finally, Freedom Capital downgraded shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.24.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the sale, the executive vice president directly owned 100,558 shares of the company’s stock, valued at approximately $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is owned by insiders.

EOG Resources Price Performance

EOG stock opened at $157.79 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm has a 50 day moving average price of $147.21 and a 200-day moving average price of $140.65. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $160.31. The firm has a market capitalization of $82.76 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.56 and a beta of 0.36.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.32 EPS. Equities research analysts forecast that EOG Resources, Inc. will post 17.48 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.6%. EOG Resources’s payout ratio is presently 31.75%.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.