Allspring Global Investments Holdings LLC Increases Holdings in EOG Resources, Inc. (NYSE:EOG)

Allspring Global Investments Holdings LLC grew its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,649,488 shares of the energy exploration company’s stock after buying an additional 34,476 shares during the period. EOG Resources accounts for about 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 28th largest holding. Allspring Global Investments Holdings LLC owned about 0.48% of EOG Resources worth $342,579,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in EOG Resources during the 4th quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in EOG Resources during the 4th quarter worth about $28,000. Heritage Wealth Advisors lifted its holdings in EOG Resources by 562.2% during the 4th quarter. Heritage Wealth Advisors now owns 245 shares of the energy exploration company’s stock worth $30,000 after buying an additional 208 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in EOG Resources during the 1st quarter worth about $34,000. Finally, Ameriflex Group Inc. purchased a new stake in EOG Resources during the 4th quarter worth about $36,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EOG shares. Citigroup decreased their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Piper Sandler cut their target price on EOG Resources from $135.00 to $133.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 target price on shares of EOG Resources in a research report on Friday, June 20th. Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Finally, Scotiabank upgraded EOG Resources from a “sector perform” rating to a “sector outperform” rating and cut their target price for the stock from $150.00 to $130.00 in a research report on Friday, April 11th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $139.48.

EOG Resources Stock Performance

NYSE EOG opened at $120.82 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $114.70 and its two-hundred day moving average is $121.36. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market capitalization of $65.94 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 9.73 and a beta of 0.74.

EOG Resources (NYSE:EOG) last released its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 22.35% and a net margin of 26.14%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. Research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a dividend of $1.02 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. This represents a $4.08 annualized dividend and a yield of 3.38%. EOG Resources’s payout ratio is presently 36.18%.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,037 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $127.76, for a total value of $515,767.12. Following the sale, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This represents a 7.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.