Magnolia Capital Advisors LLC Invests $4.85 Million in EOG Resources, Inc. (NYSE:EOG)

Magnolia Capital Advisors LLC purchased 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. The fund purchased 38,525 shares of the energy exploration company's stock, valued at approximately $4,849,000.

A number of other institutional investors also recently made changes to their positions in EOG. Riverview Trust Co bought a new stake in shares of EOG Resources in the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new position in shares of EOG Resources in the second quarter valued at $28,000. Gladius Capital Management LP bought a new position in shares of EOG Resources in the second quarter valued at $30,000. Triad Wealth Partners LLC acquired a new stake in shares of EOG Resources during the 2nd quarter valued at $35,000. Finally, Norwood Financial Corp bought a new stake in shares of EOG Resources during the 1st quarter worth $37,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction 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 completion of 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 through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the firm'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 in the company, valued at $7,648,035.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the sale, the chief operating officer now owns 35,058 shares in the company, valued at $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 in the last three months. Company insiders own 0.30% of the company's stock.

EOG Resources Stock Up 1.7 %

EOG stock traded up $2.07 during trading hours on Friday, hitting $122.44. The company's stock had a trading volume of 3,273,020 shares, compared to its average volume of 3,230,151. The stock has a 50 day moving average price of $124.94 and a two-hundred day moving average price of $126.76. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a market capitalization of $70.37 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 3.27 and a beta of 1.28. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion during 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 company's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. On average, equities research analysts expect that EOG Resources, Inc. will post 11.91 earnings per share for the current year.

EOG Resources Announces Dividend

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 paid 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 2.97%. EOG Resources's payout ratio is 28.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EOG shares. Susquehanna cut their target price on EOG Resources from $159.00 to $158.00 and set a "positive" rating on the stock in a research report on Wednesday, September 4th. Sanford C. Bernstein decreased their target price on shares of EOG Resources from $139.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, July 17th. UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Piper Sandler decreased their price objective on shares of EOG Resources from $154.00 to $147.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, September 16th. Fourteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.