Bank of New York Mellon Corp Boosts Stock Position in EOG Resources, Inc. $EOG

Bank of New York Mellon Corp increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,928,984 shares of the energy exploration company’s stock after purchasing an additional 259,015 shares during the period. Bank of New York Mellon Corp’s holdings in EOG Resources were worth $712,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in EOG Resources by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock valued at $5,651,172,000 after purchasing an additional 446,341 shares during the last quarter. State Street Corp raised its position in EOG Resources by 0.3% in the 4th quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after purchasing an additional 100,080 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock worth $2,099,028,000 after acquiring an additional 371,548 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of EOG Resources by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company’s stock worth $1,364,309,000 after purchasing an additional 95,260 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of EOG Resources by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company’s stock worth $683,382,000 after acquiring an additional 122,112 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group cut their target price on EOG Resources from $168.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Citigroup dropped their price target on shares of EOG Resources from $147.00 to $141.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 8th. Truist Financial reduced their target price on EOG Resources from $149.00 to $134.00 and set a “hold” rating for the company in a report on Wednesday, July 1st. Weiss Ratings raised EOG Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets raised their target price on shares of EOG Resources from $140.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.04.

EOG Resources Stock Performance

Shares of EOG stock opened at $138.41 on Friday. The company’s fifty day simple moving average is $135.72 and its 200-day simple moving average is $128.47. The company has a market cap of $73.72 billion, a PE ratio of 13.62 and a beta of 0.25. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the business earned $2.87 EPS. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts anticipate that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. EOG Resources’s payout ratio is currently 40.16%.

About EOG Resources

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.