EOG Resources, Inc. $EOG Position Boosted by State Street Corp

State Street Corp boosted its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.1% during the 2nd quarter, Holdings Channel reports. The fund owned 33,971,430 shares of the energy exploration company’s stock after acquiring an additional 49,882 shares during the quarter. State Street Corp owned about 0.06% of EOG Resources worth $4,407,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EOG. BlackRock Inc. bought a new position in shares of EOG Resources in the second quarter worth $5,905,587,000. Geode Capital Management LLC raised its stake in shares of EOG Resources by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock valued at $1,364,309,000 after purchasing an additional 95,260 shares in the last quarter. Franklin Resources Inc. lifted its holdings in EOG Resources by 24.2% in the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after purchasing an additional 1,257,110 shares during the period. Dimensional Fund Advisors LP lifted its holdings in EOG Resources by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after purchasing an additional 54,091 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of EOG Resources in the 2nd quarter worth approximately $654,899,000. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Down 0.6%

Shares of EOG Resources stock traded down $0.88 during trading on Tuesday, hitting $140.50. The stock had a trading volume of 1,039,570 shares, compared to its average volume of 4,155,244. The stock has a 50 day simple moving average of $144.50 and a 200 day simple moving average of $139.12. The company has a market capitalization of $73.70 billion, a PE ratio of 10.94, a P/E/G ratio of 0.53 and a beta of 0.26. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $154.16.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. On average, research analysts expect that EOG Resources, Inc. will post 16.89 EPS for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued 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 2.9%. EOG Resources’s dividend payout ratio is presently 31.75%.

Insiders Place Their Bets

In other news, EVP Michael Donaldson sold 7,336 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their position. The SEC filing for this sale provides additional information. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Morgan Stanley set a $157.00 price target on EOG Resources and gave the company an “equal weight” rating in a report on Wednesday, August 19th. UBS Group reiterated a “buy” rating and set a $183.00 price objective (up from $158.00) on shares of EOG Resources in a research report on Monday, September 14th. Seaport Research Partners assumed coverage on EOG Resources in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Finally, Truist Financial lifted their target price on EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the company. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $158.11.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.