Torno Capital LLC Acquires New Position in EOG Resources, Inc. (NYSE:EOG)

Torno Capital LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,800 shares of the energy exploration company's stock, valued at approximately $1,234,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new stake in shares of EOG Resources in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of EOG Resources in the second quarter valued at approximately $28,000. Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter worth $30,000. Triad Wealth Partners LLC purchased a new stake in shares of EOG Resources in the second quarter valued at about $35,000. Finally, Norwood Financial Corp purchased a new position in EOG Resources during the first quarter worth about $37,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG stock traded up $0.47 during midday trading on Tuesday, reaching $128.20. The company had a trading volume of 1,306,066 shares, compared to its average volume of 3,217,260. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $125.55 and a 200 day moving average price of $126.70. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The firm has a market capitalization of $73.68 billion, a PE ratio of 10.09, a P/E/G ratio of 2.95 and a beta of 1.28.

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

EOG Resources Dividend Announcement

The company 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 dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.84%. EOG Resources's payout ratio is 28.75%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EOG. Scotiabank dropped their target price on EOG Resources from $155.00 to $150.00 and set a "sector perform" rating on the stock in a research report on Friday, July 12th. Sanford C. Bernstein cut their price objective on EOG Resources from $139.00 to $125.00 and set a "market perform" rating for the company in a research report on Wednesday, July 17th. Truist Financial decreased their target price on shares of EOG Resources from $136.00 to $130.00 and set a "hold" rating on the stock in a research report on Monday, July 22nd. UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Finally, Wolfe Research started coverage on EOG Resources in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Fourteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $142.89.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Charles R. Crisp sold 6,500 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company's stock, valued at $7,648,035.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $126.48, for a total transaction of $505,920.00. Following the transaction, the chief operating officer now directly owns 35,058 shares of the company's stock, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders have sold a total of 21,537 shares of company stock valued at $2,751,612 over the last quarter. Corporate insiders own 0.30% of the company's stock.

EOG Resources Profile

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.