Weaver Capital Management LLC Has $1.08 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Weaver Capital Management LLC raised its stake in EOG Resources, Inc. (NYSE:EOG) by 38.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,786 shares of the energy exploration company’s stock after purchasing an additional 2,432 shares during the period. Weaver Capital Management LLC’s holdings in EOG Resources were worth $1,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EOG. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter worth $26,000. Riverview Trust Co acquired a new stake in EOG Resources during the second quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in EOG Resources in the 2nd quarter valued at about $28,000. Eastern Bank acquired a new position in shares of EOG Resources in the 3rd quarter valued at approximately $28,000. Finally, Gladius Capital Management LP bought a new stake in shares of EOG Resources during the 2nd quarter worth approximately $30,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $125.07 on Wednesday. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company’s 50-day moving average is $126.16 and its 200 day moving average is $126.93. 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 $71.88 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28.

EOG Resources (NYSE:EOG) last released its 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 firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. On average, equities research analysts forecast that EOG Resources, Inc. will post 11.83 earnings per share for the current year.

EOG Resources Dividend Announcement

The business 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 $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. Piper Sandler reduced their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. KeyCorp dropped their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Scotiabank reduced their price objective on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered their target price on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $141.20.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $505,920.00. Following the sale, the chief operating officer now owns 35,058 shares of the company’s stock, valued at $4,434,135.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock valued at $2,751,612 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

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.