Elevation Point Wealth Partners LLC Lowers Position in EOG Resources, Inc. $EOG

Elevation Point Wealth Partners LLC decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 51.8% in the 2nd quarter, Holdings Channel reports. The firm owned 6,955 shares of the energy exploration company’s stock after selling 7,467 shares during the period. Elevation Point Wealth Partners LLC’s holdings in EOG Resources were worth $902,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EOG. Commerce Bank raised its stake in EOG Resources by 22.4% in the second quarter. Commerce Bank now owns 124,284 shares of the energy exploration company’s stock valued at $16,123,000 after purchasing an additional 22,738 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of EOG Resources by 13.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 34,268 shares of the energy exploration company’s stock worth $4,446,000 after buying an additional 4,006 shares during the last quarter. Cadence Wealth Management LLC raised its position in shares of EOG Resources by 63.1% during the 2nd quarter. Cadence Wealth Management LLC now owns 8,740 shares of the energy exploration company’s stock valued at $1,134,000 after buying an additional 3,382 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of EOG Resources during the 2nd quarter worth $1,154,000. Finally, Varma Mutual Pension Insurance Co lifted its holdings in shares of EOG Resources by 1.2% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 154,192 shares of the energy exploration company’s stock worth $20,003,000 after acquiring an additional 1,800 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance

Shares of NYSE:EOG opened at $150.18 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $139.11 and a 200-day moving average price of $135.47. The company has a market cap of $78.77 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.57 and a beta of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67.

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. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.EOG Resources’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 EPS. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of research reports. Zacks Research downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Truist Financial upped their price objective on EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Morgan Stanley set a $157.00 price objective on EOG Resources and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Weiss Ratings restated a “buy (b-)” rating on shares of EOG Resources in a research report on Friday, August 7th. Finally, UBS Group cut their target price on EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.22.

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.