Econ Financial Services Corp Invests $2.48 Million in EOG Resources, Inc. $EOG

Econ Financial Services Corp bought a new position in shares of EOG Resources, Inc. (NYSE:EOG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,147 shares of the energy exploration company’s stock, valued at approximately $2,483,000. EOG Resources comprises about 1.2% of Econ Financial Services Corp’s holdings, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Capital Management LLC boosted its holdings in shares of EOG Resources by 4.7% during the 2nd quarter. Cullen Capital Management LLC now owns 576,470 shares of the energy exploration company’s stock worth $68,952,000 after buying an additional 25,753 shares in the last quarter. Kiker Wealth Management LLC acquired a new position in shares of EOG Resources during the 2nd quarter valued at $627,000. Railway Pension Investments Ltd lifted its position in shares of EOG Resources by 6.9% during the 2nd quarter. Railway Pension Investments Ltd now owns 449,100 shares of the energy exploration company’s stock valued at $53,717,000 after acquiring an additional 28,800 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in EOG Resources by 9.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 61,742 shares of the energy exploration company’s stock worth $7,386,000 after acquiring an additional 5,156 shares in the last quarter. Finally, River Road Asset Management LLC grew its holdings in EOG Resources by 15.2% in the second quarter. River Road Asset Management LLC now owns 75,878 shares of the energy exploration company’s stock worth $9,107,000 after purchasing an additional 9,999 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of EOG Resources from $131.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Johnson Rice cut their price target on EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, December 5th. Wells Fargo & Company cut their price target on EOG Resources from $127.00 to $126.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada boosted their price objective on EOG Resources from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $153.00 target price on shares of EOG Resources in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $138.93.

EOG Resources Stock Performance

Shares of EOG opened at $104.94 on Friday. The firm has a market capitalization of $56.94 billion, a P/E ratio of 10.45, a P/E/G ratio of 7.94 and a beta of 0.49. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $138.18. The stock has a 50 day moving average price of $106.74 and a two-hundred day moving average price of $114.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.62.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, November 6th. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. EOG Resources had a return on equity of 19.80% and a net margin of 24.49%.The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. EOG Resources’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share 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. Stockholders of record on Friday, January 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.9%. EOG Resources’s dividend payout ratio is presently 40.64%.

EOG Resources Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.