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Segment Wealth Management LLC Has $10.68 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Financial News Live · Sep 28, 2022 15:01

Segment Wealth Management LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,741 shares of the energy exploration company's stock after buying an additional 6,055 shares during the quarter. EOG Resources accounts for approximately 1.4% of Segment Wealth Management LLC's holdings, making the stock its 18th largest holding. Segment Wealth Management LLC's holdings in EOG Resources were worth $10,684,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Spirit of America Management Corp NY raised its stake in EOG Resources by 78.6% during the 2nd quarter. Spirit of America Management Corp NY now owns 6,250 shares of the energy exploration company's stock worth $690,000 after buying an additional 2,750 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of EOG Resources by 94.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 4,147 shares of the energy exploration company's stock valued at $458,000 after purchasing an additional 2,010 shares during the period. First American Trust FSB raised its stake in shares of EOG Resources by 2.6% in the 2nd quarter. First American Trust FSB now owns 75,653 shares of the energy exploration company's stock valued at $8,355,000 after purchasing an additional 1,913 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of EOG Resources in the 2nd quarter valued at about $1,392,000. Finally, Sawtooth Solutions LLC raised its stake in shares of EOG Resources by 17.9% in the 2nd quarter. Sawtooth Solutions LLC now owns 9,869 shares of the energy exploration company's stock valued at $1,090,000 after purchasing an additional 1,498 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. raised EOG Resources from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $152.00 to $156.00 in a research note on Thursday, September 15th. KeyCorp assumed coverage on EOG Resources in a research note on Monday, September 19th. They issued an "overweight" rating and a $157.00 price target on the stock. Piper Sandler dropped their price target on EOG Resources from $164.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, July 22nd. Royal Bank of Canada cut EOG Resources from an "outperform" rating to a "sector perform" rating and set a $150.00 price objective for the company. in a report on Wednesday, July 6th. Finally, TD Securities upgraded EOG Resources from a "hold" rating to a "buy" rating and set a $135.00 price objective for the company in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.85.

EOG Resources Stock Performance

EOG Resources stock traded up $4.96 during midday trading on Wednesday, reaching $110.41. 154,685 shares of the company's stock were exchanged, compared to its average volume of 3,177,813. EOG Resources, Inc. has a 52 week low of $79.91 and a 52 week high of $147.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.29 and a current ratio of 1.41. The firm has a market cap of $64.70 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.22 and a beta of 1.55. The stock's 50-day simple moving average is $114.83 and its 200 day simple moving average is $118.41.

EOG Resources (NYSE:EOG – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The energy exploration company reported $2.74 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($0.25). EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The company's revenue for the quarter was up 79.0% on a year-over-year basis. On average, analysts expect that EOG Resources, Inc. will post 15.61 earnings per share for the current fiscal year.

EOG Resources Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This is a boost from EOG Resources's previous special dividend of $1.00. EOG Resources's payout ratio is currently 30.77%.

About EOG Resources

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EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

Segment Wealth Management LLC Has $10.68 Million Holdings in EOG Resources, Inc. (NYSE:EOG)

Wall Street Analysts Forecast Growth

EOG Resources Stock Performance

EOG Resources Increases Dividend

About EOG Resources

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