Sterling Capital Management LLC Acquires 59,318 Shares of EOG Resources, Inc. $EOG

Sterling Capital Management LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 5,654.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,367 shares of the energy exploration company’s stock after acquiring an additional 59,318 shares during the quarter. Sterling Capital Management LLC’s holdings in EOG Resources were worth $8,727,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EOG shares. Morgan Stanley increased their target price on EOG Resources from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Truist Financial boosted their target price on shares of EOG Resources from $146.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Wolfe Research boosted their price objective on EOG Resources from $152.00 to $154.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the sale, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $132.64 on Friday. The firm 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 PE ratio of 13.06 and a beta of 0.25. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating 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%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.87 EPS. As a group, equities research analysts forecast that EOG Resources, Inc. will post 16.64 EPS 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 issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, July 17th. 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.