State Street Corp Raises Position in EOG Resources, Inc. $EOG

State Street Corp increased its stake in EOG Resources, Inc. (NYSE:EOG) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,971,430 shares of the energy exploration company’s stock after buying an additional 49,882 shares during the quarter. State Street Corp owned about 6.48% of EOG Resources worth $4,407,114,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Jupiter Topco LLC acquired a new position in shares of EOG Resources in the second quarter worth about $138,987,000. Punch & Associates Investment Management Inc. acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $11,746,000. Parvin Asset Management LLC purchased a new stake in EOG Resources during the 2nd quarter worth approximately $1,743,000. Ilmarinen Mutual Pension Insurance Co increased its holdings in EOG Resources by 39.2% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company’s stock worth $9,136,000 after purchasing an additional 24,500 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of EOG Resources in the 2nd quarter valued at approximately $1,051,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

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

EOG Resources (NYSE:EOG) last released 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. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the business earned $2.32 earnings per share. EOG Resources’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, analysts expect that EOG Resources, Inc. will post 16.89 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio (DPR) is 31.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EOG. The Goldman Sachs Group reissued a “neutral” rating and set a $151.00 price target (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research note on Thursday, August 13th. Truist Financial raised their price objective on shares of EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Raymond James Financial restated a “strong-buy” rating and issued a $186.00 target price (up from $183.00) on shares of EOG Resources in a research note on Thursday. Finally, Freedom Capital cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have given a Hold rating to the company. Based on data from MarketBeat, EOG Resources presently has an average rating of “Hold” and a consensus price target of $158.11.

Insider Buying and Selling

In related news, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Donaldson sold 7,336 shares of the 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 directly owned 100,558 shares in the company, valued at $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

EOG Resources 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.