Elevation Point Wealth Partners LLC Has $1.04 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Elevation Point Wealth Partners LLC lifted its holdings in EOG Resources, Inc. (NYSE:EOG) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,126 shares of the energy exploration company’s stock after purchasing an additional 2,292 shares during the period. Elevation Point Wealth Partners LLC’s holdings in EOG Resources were worth $1,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. bought a new position in EOG Resources in the 4th quarter worth $28,000. Heritage Wealth Advisors raised its holdings in EOG Resources by 562.2% in the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 208 shares during the period. Sierra Ocean LLC bought a new position in EOG Resources in the 4th quarter worth $32,000. Finally, Ameriflex Group Inc. bought a new position in EOG Resources in the 4th quarter worth $36,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at $6,098,240.32. This represents a 7.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $125.52 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock has a market cap of $68.50 billion, a P/E ratio of 10.11, a PEG ratio of 3.58 and a beta of 0.74. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company’s 50-day simple moving average is $111.99 and its 200 day simple moving average is $121.83.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 earnings per share. As a group, research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.25%. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources’s dividend payout ratio is currently 36.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EOG. UBS Group reiterated a “buy” rating and issued a $140.00 target price (up previously from $135.00) on shares of EOG Resources in a report on Tuesday, June 3rd. Jefferies Financial Group lifted their target price on shares of EOG Resources from $144.00 to $148.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley set a $135.00 price objective on shares of EOG Resources and gave the stock an “equal weight” rating in a report on Monday, June 2nd. KeyCorp dropped their price objective on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Raymond James boosted their price objective on shares of EOG Resources from $148.00 to $158.00 and gave the stock a “strong-buy” rating in a report on Monday, June 2nd. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.00.

EOG Resources 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.