Sterling Capital Management LLC Grows Stake in EOG Resources, Inc. $EOG

Sterling Capital Management LLC lifted its position in EOG Resources, Inc. (NYSE:EOG) by 5,654.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 60,367 shares of the energy exploration company’s stock after buying an additional 59,318 shares during the period. Sterling Capital Management LLC’s holdings in EOG Resources were worth $8,727,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter worth $25,000. Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter valued at about $26,000. Gen Wealth Partners Inc bought a new position in EOG Resources in the fourth quarter worth about $30,000. Nemes Rush Group LLC bought a new position in EOG Resources in the fourth quarter worth about $30,000. Finally, Olistico Wealth LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $132.64 on Friday. The company has a 50 day moving average price of $135.81 and a 200 day moving average price of $125.55. The firm has a market capitalization of $70.65 billion, a P/E ratio of 13.06 and a beta of 0.25. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87.

EOG Resources (NYSE:EOG) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. EOG Resources’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.87 EPS. Sell-side analysts expect that EOG Resources, Inc. will post 16.64 EPS for the current year.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s dividend payout ratio is presently 40.16%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EOG. Barclays lifted their price objective on shares of EOG Resources from $140.00 to $153.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Scotiabank increased their target price on shares of EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company set a $196.00 price target on shares of EOG Resources and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their price objective on EOG Resources from $145.00 to $148.00 in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This trade represents a 6.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

EOG Resources Company 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.