Cullen Capital Management LLC Grows Position in EOG Resources, Inc. $EOG

Cullen Capital Management LLC raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,470 shares of the energy exploration company’s stock after purchasing an additional 25,753 shares during the period. Cullen Capital Management LLC owned 0.11% of EOG Resources worth $68,952,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in EOG Resources by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,159,281 shares of the energy exploration company’s stock worth $736,712,000 after buying an additional 249,984 shares during the period. Northern Trust Corp lifted its position in shares of EOG Resources by 6.3% during the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock worth $779,433,000 after acquiring an additional 358,916 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of EOG Resources by 7.0% in the second quarter. Invesco Ltd. now owns 4,494,503 shares of the energy exploration company’s stock worth $537,588,000 after acquiring an additional 294,641 shares during the period. First Trust Advisors LP grew its position in shares of EOG Resources by 64.1% in the second quarter. First Trust Advisors LP now owns 3,728,128 shares of the energy exploration company’s stock valued at $445,921,000 after purchasing an additional 1,456,928 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of EOG Resources by 2.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,926,271 shares of the energy exploration company’s stock valued at $375,265,000 after purchasing an additional 77,637 shares during the period. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 1.4%

EOG stock opened at $108.01 on Monday. The company’s 50 day moving average is $108.00 and its 200 day moving average is $115.05. The stock has a market cap of $58.61 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 8.17 and a beta of 0.49. The company has a current ratio of 1.62, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.89 EPS. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, January 16th. EOG Resources’s dividend payout ratio is currently 40.64%.

Wall Street Analyst Weigh In

Several brokerages have commented on EOG. UBS Group restated a “buy” rating and issued a $141.00 target price (down previously from $144.00) on shares of EOG Resources in a research note on Friday. Roth Capital lowered their price target on shares of EOG Resources from $126.00 to $114.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Piper Sandler reduced their price objective on shares of EOG Resources from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Morgan Stanley increased their target price on shares of EOG Resources from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada raised their price target on shares of EOG Resources from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.43.

EOG Resources Company 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.