Granite Harbor Advisors Inc. Makes New $360,000 Investment in EOG Resources, Inc. (NYSE:EOG)

Granite Harbor Advisors Inc. bought a new stake in EOG Resources, Inc. (NYSE:EOG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,930 shares of the energy exploration company’s stock, valued at approximately $360,000.

Several other institutional investors and hedge funds have also made changes to their positions in EOG. Capital World Investors lifted its holdings in shares of EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock valued at $3,423,869,000 after purchasing an additional 1,361,538 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of EOG Resources in the 2nd quarter valued at about $106,990,000. Capital International Investors lifted its holdings in shares of EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after purchasing an additional 766,056 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after purchasing an additional 373,365 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of EOG traded down $1.00 on Monday, reaching $131.45. The stock had a trading volume of 259,905 shares, compared to its average volume of 3,182,596. The firm has a market capitalization of $75.55 billion, a PE ratio of 10.38, a PEG ratio of 3.38 and a beta of 1.28. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $125.89 and a 200 day moving average of $127.15. EOG Resources, Inc. has a twelve month low of $108.94 and a twelve month high of $139.67.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The business had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the prior year, the firm posted $2.49 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that EOG Resources, Inc. will post 11.83 EPS for the current year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EOG shares. Scotiabank reduced their target price on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a report on Thursday. KeyCorp started coverage on EOG Resources in a research report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price target on the stock. Piper Sandler dropped their price target on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company dropped their price target on EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Finally, Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $141.55.

Insider Activity at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at $9,615,375. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is owned by corporate insiders.

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.