Gateway Wealth Partners LLC Takes Position in EOG Resources, Inc. $EOG

Gateway Wealth Partners LLC purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,886 shares of the energy exploration company’s stock, valued at approximately $706,000.

Other hedge funds also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC bought a new position in EOG Resources in the 4th quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its holdings in shares of EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Prosperity Bancshares Inc purchased a new position in shares of EOG Resources in the fourth quarter worth $26,000. Nemes Rush Group LLC purchased a new position in shares of EOG Resources in the fourth quarter worth $30,000. Finally, Financial Life Planners purchased a new position in shares of EOG Resources in the first quarter worth $30,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on EOG shares. Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Scotiabank boosted their target price on EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Wolfe Research raised their price target on shares of EOG Resources from $152.00 to $154.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, BMO Capital Markets lifted their price target on shares of EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.32.

EOG Resources Stock Performance

EOG stock opened at $145.89 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The company has a market cap of $77.70 billion, a P/E ratio of 14.36 and a beta of 0.25. The stock’s fifty day moving average price is $136.69 and its 200-day moving average price is $130.87.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the prior year, the business earned $2.87 earnings per share. EOG Resources’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, equities analysts forecast that EOG Resources, Inc. will post 16.16 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio is presently 40.16%.

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.