Pittenger & Anderson Inc. boosted its holdings in shares of EOG Resources, Inc. (NYSE:EOG – Get Rating) by 1,451.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,270 shares of the energy exploration company’s stock after acquiring an additional 21,770 shares during the quarter. Pittenger & Anderson Inc.’s holdings in EOG Resources were worth $2,570,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of EOG Resources by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 52,391,572 shares of the energy exploration company’s stock worth $6,246,646,000 after acquiring an additional 1,046,224 shares in the last quarter. BlackRock Inc. increased its holdings in shares of EOG Resources by 1.1% in the first quarter. BlackRock Inc. now owns 46,646,390 shares of the energy exploration company’s stock valued at $5,561,649,000 after purchasing an additional 528,077 shares during the period. State Street Corp increased its holdings in shares of EOG Resources by 1.4% in the first quarter. State Street Corp now owns 36,748,452 shares of the energy exploration company’s stock valued at $4,381,518,000 after purchasing an additional 502,626 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of EOG Resources by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 21,417,102 shares of the energy exploration company’s stock valued at $2,553,563,000 after purchasing an additional 491,880 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of EOG Resources by 196.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company’s stock valued at $1,175,599,000 after purchasing an additional 6,529,464 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on EOG shares. Mizuho lowered their target price on EOG Resources from $173.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. TD Securities upgraded EOG Resources from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Friday, August 5th. Barclays lowered their target price on EOG Resources from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Bank of America increased their price target on EOG Resources from $119.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial lowered their price target on EOG Resources from $182.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, August 15th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.
EOG Resources Stock Up 0.1 %
EOG Resources (NYSE:EOG – Get Rating) last posted its earnings results on Thursday, August 4th. The energy exploration company reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $4.25 by ($1.51). EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same quarter last year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was up 79.0% on a year-over-year basis. Analysts anticipate that EOG Resources, Inc. will post 15.61 EPS for the current year.
EOG Resources Increases Dividend
The business also recently declared a special dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a $1.50 dividend. The ex-dividend date is Wednesday, September 14th. This is a boost from EOG Resources’s previous special dividend of $1.00. EOG Resources’s payout ratio is 30.77%.
About EOG Resources
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.
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