Summit Global Investments Invests $1.98 Million in EOG Resources, Inc. $EOG

Summit Global Investments bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,277 shares of the energy exploration company’s stock, valued at approximately $1,982,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Summitry LLC lifted its holdings in EOG Resources by 1.5% in the first quarter. Summitry LLC now owns 4,832 shares of the energy exploration company’s stock worth $699,000 after buying an additional 73 shares during the period. Twin Capital Management Inc. lifted its stake in shares of EOG Resources by 0.3% in the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company’s stock valued at $3,467,000 after purchasing an additional 79 shares during the period. Sax Wealth Advisors LLC boosted its position in shares of EOG Resources by 2.8% during the second quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company’s stock valued at $377,000 after purchasing an additional 79 shares in the last quarter. Paladin Wealth LLC boosted its position in shares of EOG Resources by 5.3% during the second quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company’s stock valued at $207,000 after purchasing an additional 80 shares in the last quarter. Finally, Hardy Reed LLC grew its stake in EOG Resources by 3.8% in the first quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company’s stock worth $325,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 0.8%

EOG stock opened at $142.55 on Friday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The business has a fifty day moving average price of $137.57 and a 200-day moving average price of $133.62. 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 stock has a market capitalization of $74.77 billion, a P/E ratio of 11.09 and a beta of 0.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the company posted $2.32 earnings per share. The company’s quarterly revenue was up 57.4% on a year-over-year basis. Equities analysts forecast that EOG Resources, Inc. will post 16.4 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources’s payout ratio is 31.75%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EOG. The Goldman Sachs Group lowered their price objective on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Susquehanna reaffirmed a “positive” rating and issued a $170.00 target price (up from $166.00) on shares of EOG Resources in a research report on Tuesday, July 21st. Citigroup decreased their price target on shares of EOG Resources from $147.00 to $141.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Capital One Financial lowered their price target on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Finally, Wall Street Zen lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, EOG Resources has an average rating of “Hold” and an average target price of $156.21.

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.