Rakuten Investment Management Inc. Invests $11.52 Million in EOG Resources, Inc. $EOG

Rakuten Investment Management Inc. bought a new stake in EOG Resources, Inc. (NYSE:EOG) during the second quarter, HoldingsChannel reports. The firm bought 87,294 shares of the energy exploration company’s stock, valued at approximately $11,517,000.

A number of other institutional investors have also made changes to their positions in EOG. SJS Investment Consulting Inc. lifted its stake in EOG Resources by 225.5% during the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Financial Life Planners acquired a new position in EOG Resources in the first quarter worth $30,000. Acumen Wealth Advisors LLC bought a new stake in EOG Resources during the fourth quarter valued at $25,000. Wedbush Fund Advisers LLC bought a new stake in EOG Resources during the second quarter valued at $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of EOG Resources during the fourth quarter worth $26,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Trading Down 0.7%

EOG Resources stock opened at $143.53 on Friday. The business has a 50 day moving average price of $140.20 and a two-hundred day moving average price of $136.19. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $153.67. The stock has a market cap of $75.29 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.32 earnings per share. As a group, equities analysts forecast that EOG Resources, Inc. will post 16.87 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared 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. This represents a $4.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is 31.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Mizuho set a $157.00 target price on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. DA Davidson boosted their target price on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Freedom Capital downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $156.33.

Insider Buying and Selling at EOG Resources

In related news, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the sale, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This trade represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

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.