Elevation Point Wealth Partners LLC Grows Stake in EOG Resources, Inc. $EOG

Elevation Point Wealth Partners LLC grew its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 110.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,422 shares of the energy exploration company’s stock after acquiring an additional 7,555 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in EOG Resources were worth $2,085,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EOG. SJS Investment Consulting Inc. increased its stake in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Financial Life Planners bought a new position in shares of EOG Resources in the first quarter worth approximately $30,000. Acumen Wealth Advisors LLC bought a new position in shares of EOG Resources in the fourth quarter worth approximately $25,000. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $26,000. Finally, Gen Wealth Partners Inc purchased a new stake in shares of EOG Resources during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 0.0%

EOG stock opened at $130.81 on Monday. The company has a market cap of $69.67 billion, a price-to-earnings ratio of 12.87 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The business’s 50-day moving average is $135.71 and its two-hundred day moving average is $126.41. EOG Resources, Inc. has a fifty-two week low of $101.59 and a fifty-two week high of $151.87.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 EPS. As a group, analysts forecast that EOG Resources, Inc. will post 16.23 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date is Friday, July 17th. This represents a $4.08 annualized dividend and a yield of 3.1%. EOG Resources’s dividend payout ratio (DPR) is presently 40.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EOG. Weiss Ratings upgraded shares of EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Wells Fargo & Company set a $196.00 target price on EOG Resources and gave the company an “overweight” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group reduced their target price on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Barclays boosted their price target on EOG Resources from $140.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Finally, Zacks Research downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.25.

EOG Resources Company 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.