L2 Asset Management LLC Increases Position in EOG Resources, Inc. $EOG

L2 Asset Management LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 56.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,300 shares of the energy exploration company’s stock after buying an additional 10,945 shares during the quarter. L2 Asset Management LLC’s holdings in EOG Resources were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at $25,000. Nemes Rush Group LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at $30,000. Gen Wealth Partners Inc purchased a new stake in shares of EOG Resources during the fourth quarter valued at $30,000. Olistico Wealth LLC acquired a new position in EOG Resources during the fourth quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. lifted its position in EOG Resources by 103.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 335 shares of the energy exploration company’s stock valued at $35,000 after purchasing an additional 170 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In related news, CFO Ann D. Janssen sold 4,161 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the transaction, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.14% of the company’s stock.

EOG Resources Trading Down 3.4%

Shares of EOG Resources stock opened at $132.07 on Tuesday. The firm has a 50-day simple moving average of $136.82 and a two-hundred day simple moving average of $124.18. The company has a market cap of $70.34 billion, a P/E ratio of 13.00 and a beta of 0.25. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87. 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 issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion during 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 company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.87 earnings per share. As a group, equities analysts predict that EOG Resources, Inc. will post 16.63 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EOG. Capital One Financial decreased their target price 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. JPMorgan Chase & Co. boosted their target price on shares of EOG Resources from $145.00 to $148.00 in a research report on Thursday, May 7th. UBS Group boosted their target price on shares of EOG Resources from $141.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Wells Fargo & Company set a $196.00 target price on shares of EOG Resources and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Truist Financial boosted their target price on shares of EOG Resources from $146.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.32.

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.