Zega Financial LLC Takes Position in EOG Resources, Inc. (NYSE:EOG)

Zega Financial LLC purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,336 shares of the energy exploration company's stock, valued at approximately $672,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EOG. Capital World Investors lifted its position in EOG Resources by 59.2% during the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company's stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in EOG Resources by 26.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company's stock worth $598,475,000 after buying an additional 1,029,727 shares during the period. Capital International Investors lifted its holdings in EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock worth $1,478,401,000 after buying an additional 766,056 shares in the last quarter. Capital Research Global Investors lifted its holdings in EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company's stock worth $3,693,261,000 after buying an additional 373,365 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in EOG Resources by 237.9% in the 2nd quarter. National Bank of Canada FI now owns 487,920 shares of the energy exploration company's stock valued at $61,741,000 after buying an additional 343,527 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of NYSE:EOG traded up $1.19 on Wednesday, hitting $124.38. The company's stock had a trading volume of 3,965,829 shares, compared to its average volume of 3,187,679. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The stock's 50-day moving average is $125.80 and its two-hundred day moving average is $126.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The company has a market capitalization of $71.48 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts' consensus estimates of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. On average, equities research analysts forecast that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.93%. EOG Resources's payout ratio is currently 28.75%.

Insider Buying and Selling

In other news, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now directly owns 60,892 shares of the company's stock, valued at $7,648,035.20. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock worth $2,751,612 in the last three months. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. Piper Sandler cut their price target on EOG Resources from $154.00 to $147.00 and set an "overweight" rating on the stock in a research note on Thursday, August 15th. Truist Financial cut their target price on EOG Resources from $136.00 to $130.00 and set a "hold" rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $147.00 price target on shares of EOG Resources in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating for the company in a report on Thursday, September 12th. Finally, StockNews.com lowered EOG Resources from a "buy" rating to a "hold" rating in a report on Monday. Fourteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EOG Resources presently has a consensus rating of "Hold" and an average target price of $142.89.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.