Coastal Bridge Advisors LLC Takes Position in EOG Resources, Inc. $EOG

Coastal Bridge Advisors LLC purchased a new position in EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,221 shares of the energy exploration company’s stock, valued at approximately $677,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in EOG Resources in the 2nd quarter worth about $5,905,587,000. Bank of New York Mellon Corp bought a new position in EOG Resources during the second quarter valued at approximately $654,899,000. Bank of America Corp DE acquired a new stake in EOG Resources in the second quarter valued at approximately $551,321,000. Deutsche Bank AG acquired a new stake in EOG Resources in the second quarter valued at approximately $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in EOG Resources in the second quarter worth approximately $168,029,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EOG. Roth Capital restated a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a research note on Wednesday, August 5th. Mizuho set a $157.00 price objective on shares of EOG Resources and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Freedom Capital downgraded shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Citigroup restated a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a report on Thursday. Finally, Sanford C. Bernstein reduced their price target on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.33.

Insider Activity at EOG Resources

In other news, CEO Ezra Y. Yacob sold 35,942 shares of EOG Resources stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $143.53 on Friday. The company’s fifty day moving average is $140.20 and its two-hundred day moving average is $136.19. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $153.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The firm has a market capitalization of $75.29 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.54 and a beta of 0.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the business earned $2.32 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts forecast that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.8%. EOG Resources’s dividend payout ratio is 31.75%.

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.