Umpqua Bank Makes New Investment in EOG Resources, Inc. (NYSE:EOG)

Umpqua Bank purchased a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,681 shares of the energy exploration company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wright Investors Service Inc. lifted its stake in EOG Resources by 0.8% in the 1st quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock worth $1,299,000 after purchasing an additional 80 shares in the last quarter. CVA Family Office LLC raised its position in shares of EOG Resources by 11.0% in the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after buying an additional 81 shares in the last quarter. Bailard Inc. boosted its stake in EOG Resources by 0.4% during the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after buying an additional 81 shares during the period. Field & Main Bank grew its position in EOG Resources by 1.4% during the first quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock worth $788,000 after buying an additional 83 shares in the last quarter. Finally, PDS Planning Inc increased its stake in EOG Resources by 4.1% in 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 during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EOG shares. Citigroup boosted their price objective on EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Truist Financial decreased their price target on shares of EOG Resources from $136.00 to $130.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Wolfe Research assumed coverage on shares of EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank lowered their price target on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $143.95.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock valued at $2,751,612 in the last three months. 0.30% of the stock is currently owned by company insiders.

EOG Resources Price Performance

EOG stock opened at $120.35 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. EOG Resources, Inc. has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a 50-day moving average of $126.66 and a 200 day moving average of $126.08. The company has a market cap of $69.17 billion, a P/E ratio of 9.51, a PEG ratio of 3.22 and a beta of 1.28.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that EOG Resources, Inc. will post 12.2 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

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.