Pallas Capital Advisors LLC Invests $973,000 in EOG Resources, Inc. $EOG

Pallas Capital Advisors LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,504 shares of the energy exploration company’s stock, valued at approximately $973,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources during the fourth quarter worth approximately $25,000. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in EOG Resources in the fourth quarter valued at approximately $26,000. Nemes Rush Group LLC purchased a new position in EOG Resources in the fourth quarter valued at approximately $30,000. Finally, Financial Life Planners acquired a new stake in EOG Resources during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

Shares of NYSE EOG opened at $148.68 on Wednesday. The stock has a market cap of $77.99 billion, a P/E ratio of 11.57 and a beta of 0.25. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87. The stock has a 50 day moving average of $137.92 and a two-hundred day moving average of $134.33. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. On average, research analysts forecast that EOG Resources, Inc. will post 16.43 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. EOG Resources’s dividend payout ratio is currently 31.75%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company restated an “overweight” rating and set a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. UBS Group cut their price target on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Barclays set a $147.00 price target on shares of EOG Resources and gave the stock an “equal weight” rating in a research note on Monday. Jefferies Financial Group restated a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Finally, Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $156.00.

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.