Ontario Teachers Pension Plan Board increased its stake in EOG Resources Inc (NYSE:EOG) by 744.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,851 shares of the energy exploration company’s stock after acquiring an additional 23,671 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in EOG Resources were worth $964,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of EOG. Capital Research Global Investors lifted its stake in shares of EOG Resources by 20.7% in the fourth quarter. Capital Research Global Investors now owns 60,548,187 shares of the energy exploration company’s stock worth $5,071,515,000 after acquiring an additional 10,383,669 shares during the period. Capital International Investors lifted its stake in shares of EOG Resources by 14.4% in the fourth quarter. Capital International Investors now owns 42,968,045 shares of the energy exploration company’s stock worth $3,599,001,000 after acquiring an additional 5,400,745 shares during the period. Norges Bank acquired a new position in shares of EOG Resources in the fourth quarter worth approximately $447,634,000. BlackRock Inc. lifted its stake in shares of EOG Resources by 8.7% in the first quarter. BlackRock Inc. now owns 39,958,429 shares of the energy exploration company’s stock worth $1,435,306,000 after acquiring an additional 3,205,740 shares during the period. Finally, Manning & Napier Group LLC acquired a new position in shares of EOG Resources in the first quarter worth approximately $65,392,000. 87.04% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on EOG. Raymond James dropped their price target on EOG Resources from $78.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. SunTrust Banks dropped their price target on EOG Resources from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. ValuEngine raised EOG Resources from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Citigroup boosted their price target on EOG Resources from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird reissued a “buy” rating and issued a $92.00 price target on shares of EOG Resources in a research note on Monday, March 2nd. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $73.17.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, May 7th. The energy exploration company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.11). The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $3.83 billion. EOG Resources had a net margin of 11.69% and a return on equity of 11.89%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. As a group, sell-side analysts predict that EOG Resources Inc will post 0.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, July 16th. EOG Resources’s payout ratio is currently 30.12%.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.
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