Waterfront Wealth Inc. Invests $938,000 in EOG Resources, Inc. $EOG

Waterfront Wealth Inc. acquired a new stake in EOG Resources, Inc. (NYSE:EOG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,487 shares of the energy exploration company’s stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in EOG Resources by 24.2% during the 4th quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock valued at $676,627,000 after acquiring an additional 1,257,110 shares during the period. First Trust Advisors LP lifted its position in shares of EOG Resources by 70.5% during the fourth 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 lifted its position in shares of EOG Resources by 474.7% during the fourth 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 boosted its stake in shares of EOG Resources by 23.9% in the fourth 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 period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of EOG Resources in the third quarter valued at approximately $87,193,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on EOG. BMO Capital Markets upped their target price 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. Zacks Research cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein dropped their price target on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, May 20th. The Goldman Sachs Group dropped their price target on shares of EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, Wolfe Research increased their price objective on EOG Resources from $152.00 to $154.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and a consensus price target of $155.04.

EOG Resources Stock Up 0.4%

Shares of NYSE:EOG traded up $0.49 during trading hours on Friday, reaching $134.03. The stock had a trading volume of 1,864,493 shares, compared to its average volume of 4,011,652. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The firm’s 50 day moving average is $135.59 and its 200-day moving average is $127.33. The stock has a market capitalization of $71.39 billion, a price-to-earnings ratio of 13.19 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.87 EPS. Research analysts predict that EOG Resources, Inc. will post 16.19 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

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

EOG Resources Profile

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.