Shorepath Capital Management LLC Has $6.60 Million Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

Shorepath Capital Management LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,430 shares of the energy exploration company’s stock after selling 388 shares during the quarter. EOG Resources accounts for about 5.0% of Shorepath Capital Management LLC’s holdings, making the stock its 9th biggest holding. Shorepath Capital Management LLC’s holdings in EOG Resources were worth $6,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Mainstream Capital Management LLC purchased a new position in shares of EOG Resources during the fourth quarter worth approximately $25,000. Lee Danner & Bass Inc. purchased a new position in shares of EOG Resources in the fourth quarter worth $28,000. Heritage Wealth Advisors increased its stake in shares of EOG Resources by 562.2% in the fourth quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after buying an additional 208 shares during the period. Sierra Ocean LLC purchased a new position in shares of EOG Resources in the fourth quarter worth $32,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of EOG Resources by 643.6% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 290 shares of the energy exploration company’s stock worth $36,000 after buying an additional 251 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 4,037 shares of EOG Resources stock in a transaction 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 in the company, valued at approximately $6,098,240.32. This trade 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 can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EOG shares. Susquehanna decreased their target price on shares of EOG Resources from $161.00 to $156.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. KeyCorp decreased their target price on shares of EOG Resources from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Barclays lifted their target price on shares of EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. Williams Trading set a $154.00 price objective on shares of EOG Resources in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price objective on shares of EOG Resources from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.58.

EOG Resources Trading Up 2.6%

Shares of EOG opened at $113.93 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a 50 day simple moving average of $111.51 and a two-hundred day simple moving average of $122.23. The firm has a market cap of $62.18 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share 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 firm 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 earnings per share. EOG Resources’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 3.58%. EOG Resources’s dividend payout ratio (DPR) 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.