Hsbc Holdings PLC Purchases 502,667 Shares of EOG Resources, Inc. $EOG

Hsbc Holdings PLC raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,956,432 shares of the energy exploration company’s stock after acquiring an additional 502,667 shares during the period. Hsbc Holdings PLC’s holdings in EOG Resources were worth $205,387,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EOG. Acumen Wealth Advisors LLC purchased a new position in shares of EOG Resources during the fourth quarter valued at $25,000. Prosperity Bancshares Inc bought a new stake in shares of EOG Resources in the fourth quarter valued at about $26,000. Gen Wealth Partners Inc purchased a new stake in EOG Resources in the fourth quarter worth about $30,000. Nemes Rush Group LLC purchased a new stake in EOG Resources in the fourth quarter worth about $30,000. Finally, Olistico Wealth LLC bought a new position in EOG Resources during the 4th quarter worth about $33,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total transaction of $856,523.36. Following the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at $13,234,924.40. This represents a 6.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on EOG. Raymond James Financial raised their target price on shares of EOG Resources from $157.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Friday, March 27th. Wall Street Zen raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Susquehanna increased their price objective on shares of EOG Resources from $144.00 to $162.00 and gave the company a “positive” rating in a research note on Tuesday, April 21st. DA Davidson boosted their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of EOG Resources from $145.00 to $148.00 in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and an average price target of $156.32.

EOG Resources Price Performance

Shares of EOG opened at $130.05 on Friday. The company has a market cap of $69.27 billion, a price-to-earnings ratio of 12.80 and a beta of 0.25. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $135.96 and a two-hundred day moving average of $124.75.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the firm posted $2.87 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that EOG Resources, Inc. will post 16.63 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, July 17th. EOG Resources’s payout ratio is 40.16%.

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.