Meeder Asset Management Inc. Acquires New Shares in EOG Resources, Inc. $EOG

Meeder Asset Management Inc. purchased a new position in EOG Resources, Inc. (NYSE:EOG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,842 shares of the energy exploration company’s stock, valued at approximately $628,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in EOG Resources by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock worth $5,651,172,000 after purchasing an additional 446,341 shares during the last quarter. BlackRock Inc. acquired a new position in EOG Resources during the second quarter valued at approximately $5,905,587,000. State Street Corp raised its position in shares of EOG Resources by 0.3% in the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after purchasing an additional 100,080 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock worth $2,099,028,000 after buying an additional 371,548 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of EOG Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock worth $1,364,309,000 after buying an additional 95,260 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the subject of several recent analyst reports. Mizuho set a $157.00 target price on EOG Resources and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. UBS Group reduced their price objective on EOG Resources from $168.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Freedom Capital downgraded shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $156.00.

EOG Resources Stock Up 1.7%

EOG stock opened at $148.68 on Wednesday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The company has a market cap of $77.99 billion, a PE ratio of 11.57 and a beta of 0.25. The business’s 50-day simple moving average is $137.92 and its 200 day simple moving average is $134.33.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.EOG Resources’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.32 EPS. On average, research analysts anticipate that EOG Resources, Inc. will post 16.43 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.7%. EOG Resources’s dividend payout ratio is currently 31.75%.

About EOG Resources

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.