Moore Capital Management LP Acquires New Shares in EOG Resources, Inc. (NYSE:EOG)

Moore Capital Management LP bought a new position in EOG Resources, Inc. (NYSE:EOG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 65,039 shares of the energy exploration company’s stock, valued at approximately $7,972,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in EOG Resources in the 4th quarter worth approximately $25,000. Y.D. More Investments Ltd boosted its position in shares of EOG Resources by 149.4% during the 4th quarter. Y.D. More Investments Ltd now owns 202 shares of the energy exploration company’s stock valued at $25,000 after acquiring an additional 121 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources during the fourth quarter worth about $25,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources in the fourth quarter worth approximately $27,000. Finally, Keystone Financial Group Inc. purchased a new position in EOG Resources in the 4th quarter worth approximately $27,000. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EOG. UBS Group cut their target price on shares of EOG Resources from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Scotiabank raised EOG Resources from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Piper Sandler lowered their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Truist Financial upped their price target on EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.95.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the sale, the chief operating officer now directly owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. This trade represents a 7.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $111.13 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock’s 50-day simple moving average is $116.68 and its 200-day simple moving average is $124.53. The company has a market capitalization of $60.65 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 3.58 and a beta of 0.78.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.12. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the firm posted $2.82 EPS. The company’s revenue was down 7.4% on a year-over-year basis. As a group, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, July 17th. EOG Resources’s dividend payout ratio is currently 36.18%.

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.