Miracle Mile Advisors LLC Has $1.38 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Miracle Mile Advisors LLC lifted its position in EOG Resources, Inc. (NYSE:EOG) by 19.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,727 shares of the energy exploration company’s stock after buying an additional 1,709 shares during the quarter. Miracle Mile Advisors LLC’s holdings in EOG Resources were worth $1,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors grew its stake in shares of EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company’s stock valued at $5,628,497,000 after buying an additional 2,270,013 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of EOG Resources by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,192,314 shares of the energy exploration company’s stock valued at $2,230,014,000 after buying an additional 781,282 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of EOG Resources by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,549,802 shares of the energy exploration company’s stock valued at $1,541,282,000 after buying an additional 234,067 shares in the last quarter. Northern Trust Corp grew its stake in shares of EOG Resources by 2.9% in the fourth quarter. Northern Trust Corp now owns 5,719,012 shares of the energy exploration company’s stock valued at $701,036,000 after buying an additional 159,216 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of EOG Resources by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 5,686,003 shares of the energy exploration company’s stock valued at $696,990,000 after buying an additional 365,115 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Up 0.3%

Shares of EOG Resources stock opened at $114.34 on Tuesday. The firm has a 50-day moving average of $111.19 and a 200-day moving average of $122.08. The stock has a market cap of $62.40 billion, a PE ratio of 9.21, a PEG ratio of 3.58 and a beta of 0.74. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last posted 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. 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 analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business posted $2.82 earnings per share. EOG Resources’s revenue was down 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be given a dividend of $1.02 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.57%. EOG Resources’s dividend payout ratio is currently 36.18%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EOG. UBS Group reissued a “buy” rating and issued a $140.00 target price (up from $135.00) on shares of EOG Resources in a research note on Tuesday, June 3rd. Piper Sandler reduced their price objective on shares of EOG Resources from $135.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of EOG Resources from $149.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $134.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Barclays lifted their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and an average target price of $139.58.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 47,732 shares of the company’s stock, valued at approximately $6,098,240.32. The trade was a 7.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company 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.