Cullen Investment Group LTD. Invests $231,000 in EOG Resources, Inc. (NYSE:EOG)

Cullen Investment Group LTD. purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,906 shares of the energy exploration company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of EOG Resources during the 3rd quarter worth $4,431,000. Paradigm Financial Partners LLC lifted its stake in shares of EOG Resources by 0.9% during the 3rd quarter. Paradigm Financial Partners LLC now owns 30,004 shares of the energy exploration company’s stock worth $3,728,000 after purchasing an additional 271 shares during the last quarter. TIAA Trust National Association lifted its stake in shares of EOG Resources by 639.3% during the 4th quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock worth $6,971,000 after purchasing an additional 49,840 shares during the last quarter. L. Roy Papp & Associates LLP lifted its stake in shares of EOG Resources by 18.3% during the 4th quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock worth $20,362,000 after purchasing an additional 26,026 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in shares of EOG Resources by 9.3% during the 4th quarter. NewEdge Wealth LLC now owns 115,960 shares of the energy exploration company’s stock worth $14,025,000 after purchasing an additional 9,837 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 1.5 %

Shares of NYSE:EOG opened at $132.39 on Tuesday. EOG Resources, Inc. has a 52-week low of $106.32 and a 52-week high of $139.67. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of 10.18 and a beta of 1.40. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $121.81 and a 200-day moving average price of $121.80.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $3.30 earnings per share. Equities analysts predict that EOG Resources, Inc. will post 11.95 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s payout ratio is currently 27.98%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EOG. Scotiabank cut EOG Resources from a “sector outperform” rating to a “sector perform” rating and upped their price objective for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. Piper Sandler decreased their price objective on EOG Resources from $153.00 to $141.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Raymond James decreased their price objective on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Mizuho increased their price target on EOG Resources from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. Finally, Susquehanna decreased their price target on EOG Resources from $164.00 to $147.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $140.90.

About EOG Resources

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.