Mercer Global Advisors Inc. ADV Boosts Position in EOG Resources, Inc. (NYSE:EOG)

18 Sep 2024, 19:02 by Danessa Lincoln · The Markets Daily

Mercer Global Advisors Inc. ADV increased its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,088,336 shares of the energy exploration company’s stock after buying an additional 4,382 shares during the period. Mercer Global Advisors Inc. ADV owned 0.19% of EOG Resources worth $136,977,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wright Investors Service Inc. grew its holdings in EOG Resources by 0.8% during the 1st quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock worth $1,299,000 after acquiring an additional 80 shares in the last quarter. CVA Family Office LLC grew its holdings in EOG Resources by 11.0% during the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after acquiring an additional 81 shares in the last quarter. Bailard Inc. grew its holdings in EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after acquiring an additional 81 shares in the last quarter. Field & Main Bank grew its holdings in EOG Resources by 1.4% during the 1st quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock worth $788,000 after acquiring an additional 83 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in EOG Resources by 4.1% during the 1st quarter. PDS Planning Inc now owns 2,152 shares of the energy exploration company’s stock worth $275,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $123.19 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources, Inc. has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a 50 day simple moving average of $125.80 and a two-hundred day simple moving average of $126.44. The stock has a market cap of $70.80 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 2.95 and a beta of 1.28.

EOG Resources (NYSE:EOG – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same period in the previous year, the business posted $2.49 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts predict that EOG Resources, Inc. will post 12.2 earnings per share for the current year.

EOG Resources Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Analysts Set New Price Targets

Several brokerages have issued reports on EOG. UBS Group increased their target price on shares of EOG Resources from $166.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Piper Sandler cut their price objective on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Susquehanna cut their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Fourteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $143.58.

Read Our Latest Report on EOG Resources

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 approximately $9,615,375. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s 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. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 in the last three months. Company insiders own 0.30% of the company’s stock.

EOG Resources Profile

(Free Report)

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.