Fortis Advisors LLC Buys 2,400 Shares of EOG Resources, Inc. (NYSE:EOG)

Fortis Advisors LLC increased its stake in EOG Resources, Inc. (NYSE:EOGGet Rating) by 240.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,400 shares of the energy exploration company’s stock after purchasing an additional 2,400 shares during the quarter. Fortis Advisors LLC’s holdings in EOG Resources were worth $405,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Williams Jones Wealth Management LLC. raised its holdings in EOG Resources by 83.3% during the first quarter. Williams Jones Wealth Management LLC. now owns 107,020 shares of the energy exploration company’s stock valued at $12,760,000 after acquiring an additional 48,650 shares during the period. Lavaca Capital LLC raised its holdings in EOG Resources by 5.8% during the first quarter. Lavaca Capital LLC now owns 15,162 shares of the energy exploration company’s stock valued at $1,808,000 after acquiring an additional 835 shares during the period. Centaurus Financial Inc. raised its holdings in EOG Resources by 68.5% during the first quarter. Centaurus Financial Inc. now owns 2,327 shares of the energy exploration company’s stock valued at $277,000 after acquiring an additional 946 shares during the period. Cadence Bank raised its holdings in EOG Resources by 0.9% during the first quarter. Cadence Bank now owns 82,652 shares of the energy exploration company’s stock valued at $9,855,000 after acquiring an additional 738 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its holdings in EOG Resources by 7.6% during the first quarter. Industrial Alliance Investment Management Inc. now owns 198,512 shares of the energy exploration company’s stock valued at $23,669,000 after acquiring an additional 13,959 shares during the period. 88.30% of the stock is owned by institutional investors.

EOG Resources Stock Up 4.3 %

Shares of NYSE EOG opened at $123.36 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.29. The company has a market cap of $72.29 billion, a P/E ratio of 12.65, a PEG ratio of 0.23 and a beta of 1.55. EOG Resources, Inc. has a 1 year low of $66.97 and a 1 year high of $147.99. The firm has a 50-day simple moving average of $111.02 and a two-hundred day simple moving average of $118.16.

EOG Resources (NYSE:EOGGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($1.51). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $5.58 billion. EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The firm’s revenue for the quarter was up 79.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. Research analysts anticipate that EOG Resources, Inc. will post 15.78 earnings per share for the current year.

EOG Resources Increases Dividend

The business also recently declared a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Wednesday, September 14th. This is an increase from EOG Resources’s previous special dividend of $1.00. EOG Resources’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on EOG. Royal Bank of Canada cut EOG Resources from an “outperform” rating to a “sector perform” rating and set a $150.00 price target on the stock. in a report on Wednesday, July 6th. Truist Financial cut their price objective on EOG Resources from $182.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Bank of America upgraded EOG Resources from a “neutral” rating to a “buy” rating and cut their price objective for the company from $146.00 to $119.00 in a research report on Tuesday, July 19th. KeyCorp raised their price objective on EOG Resources from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 26th. Finally, StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and an average price target of $141.68.

EOG Resources Company Profile

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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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