Westpac Banking Corp Has $8.24 Million Stake in EOG Resources, Inc. (EOG)
Westpac Banking Corp increased its stake in EOG Resources, Inc. (NYSE:EOG) by 52.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,147 shares of the energy exploration company’s stock after buying an additional 29,364 shares during the period. Westpac Banking Corp’s holdings in EOG Resources were worth $8,237,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of EOG. BlackRock Inc. increased its stake in shares of EOG Resources by 2,098.0% in the first quarter. BlackRock Inc. now owns 35,740,352 shares of the energy exploration company’s stock worth $3,486,473,000 after buying an additional 34,114,299 shares during the last quarter. Capital Research Global Investors increased its stake in shares of EOG Resources by 14.7% in the second quarter. Capital Research Global Investors now owns 41,839,695 shares of the energy exploration company’s stock worth $3,787,329,000 after buying an additional 5,368,941 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of EOG Resources by 64.9% in the second quarter. Ameriprise Financial Inc. now owns 5,293,904 shares of the energy exploration company’s stock worth $479,202,000 after buying an additional 2,083,122 shares during the last quarter. Capital World Investors increased its stake in shares of EOG Resources by 9.9% in the second quarter. Capital World Investors now owns 17,461,968 shares of the energy exploration company’s stock worth $1,580,657,000 after buying an additional 1,568,085 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of EOG Resources by 49.2% in the second quarter. UBS Asset Management Americas Inc. now owns 4,408,298 shares of the energy exploration company’s stock worth $399,039,000 after buying an additional 1,452,947 shares during the last quarter. Institutional investors and hedge funds own 85.38% of the company’s stock.
EOG Resources (NYSE:EOG) last announced its earnings results on Wednesday, November 1st. The energy exploration company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.59 billion. EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th were issued a dividend of $0.1675 per share. This represents a $0.67 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, October 16th. EOG Resources’s payout ratio is presently -131.37%.
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A number of brokerages recently issued reports on EOG. Imperial Capital began coverage on shares of EOG Resources in a research note on Thursday, September 28th. They issued an “outperform” rating and a $115.00 price target for the company. Morgan Stanley upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $97.00 to $106.00 in a research note on Tuesday, September 12th. Barclays PLC restated an “overweight” rating and issued a $101.00 price target (up previously from $94.00) on shares of EOG Resources in a research note on Thursday, August 3rd. BMO Capital Markets set a $105.00 price target on shares of EOG Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of EOG Resources from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $108.68.
In related news, insider Gary L. Thomas sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $96.63, for a total value of $2,415,750.00. Following the transaction, the insider now owns 1,067,465 shares in the company, valued at $103,149,142.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $88.22, for a total value of $352,880.00. Following the completion of the transaction, the executive vice president now owns 70,987 shares in the company, valued at approximately $6,262,473.14. The disclosure for this sale can be found here. Insiders have sold 38,578 shares of company stock worth $3,700,882 in the last 90 days. Company insiders own 0.53% of the company’s stock.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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