AIA Group Ltd Grows Holdings in EOG Resources, Inc. $EOG

Key Points

• AIA Group Ltd increased its stake in EOG Resources by 18.2% in the first quarter, adding 14,939 shares to bring its total to 97,054 shares worth about $14.0 million.
• EOG Resources delivered stronger-than-expected first-quarter results, reporting EPS of $3.41 versus $3.23 expected and revenue of $6.92 billion, up 22.1% from a year earlier.
• The company continues to return cash to shareholders with a quarterly dividend of $1.02 per share, implying a 2.9% yield, while analysts currently view the stock as a “Moderate Buy” with an average price target of $155.04.

AIA Group Ltd boosted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 18.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,054 shares of the energy exploration company's stock after acquiring an additional 14,939 shares during the period. AIA Group Ltd's holdings in EOG Resources were worth $14,031,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in EOG. Twin Capital Management Inc. raised its stake in EOG Resources by 0.3% during the 1st quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company's stock valued at $3,467,000 after purchasing an additional 79 shares during the period. Hardy Reed LLC lifted its holdings in EOG Resources by 3.8% in the 1st quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock worth $325,000 after purchasing an additional 82 shares in the last quarter. Fulton Bank N.A. boosted its stake in EOG Resources by 2.1% in the 1st quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company's stock worth $662,000 after purchasing an additional 93 shares during the period. Ethos Financial Group LLC boosted its stake in EOG Resources by 2.5% in the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company's stock worth $439,000 after purchasing an additional 100 shares during the period. Finally, NovaPoint Capital LLC grew its holdings in EOG Resources by 0.3% during the 1st quarter. NovaPoint Capital LLC now owns 31,621 shares of the energy exploration company's stock valued at $4,571,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

EOG Resources stock opened at $139.80 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The firm has a market capitalization of $74.46 billion, a P/E ratio of 13.76 and a beta of 0.25. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The company's 50-day moving average is $135.91 and its 200 day moving average is $128.55.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same quarter in the previous year, the business earned $2.87 EPS. EOG Resources's revenue was up 22.1% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's payout ratio is presently 40.16%.

Analyst Ratings Changes

Several analysts have commented on EOG shares. Jefferies Financial Group reiterated a "buy" rating and issued a $175.00 price target (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Weiss Ratings upgraded EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. Piper Sandler lifted their target price on EOG Resources from $144.00 to $147.00 and gave the stock a "neutral" rating in a report on Wednesday, April 1st. Morgan Stanley decreased their target price on EOG Resources from $160.00 to $156.00 and set an "equal weight" rating on the stock in a research report on Friday, June 26th. Finally, UBS Group dropped their price target on EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $155.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.