Allspring Global Investments Holdings LLC Has $370.59 Million Position in EOG Resources, Inc. $EOG

Key Points

• Allspring Global Investments increased its stake in EOG Resources by 5.1% in the first quarter, bringing its holding to 2.64 million shares worth about $370.6 million.
• Wall Street sentiment is constructive: EOG has a consensus rating of Moderate Buy, with 1 Strong Buy, 13 Buy, and 16 Hold ratings, and an average price target of $155.04.
• The company reported strong results and a dividend, posting Q1 EPS of $3.41 versus expectations of $3.23 and revenue of $6.92 billion, while also declaring a quarterly dividend of $1.02 per share (2.9% yield).

Allspring Global Investments Holdings LLC grew its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,639,175 shares of the energy exploration company's stock after purchasing an additional 127,356 shares during the period. EOG Resources comprises approximately 0.6% of Allspring Global Investments Holdings LLC's holdings, making the stock its 24th biggest holding. Allspring Global Investments Holdings LLC owned about 0.49% of EOG Resources worth $370,593,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new position in EOG Resources in the 4th quarter valued at $25,000. SJS Investment Consulting Inc. lifted its position in EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after buying an additional 124 shares in the last quarter. Prosperity Bancshares Inc bought a new stake in EOG Resources during the 4th quarter worth about $26,000. Nemes Rush Group LLC acquired a new stake in EOG Resources in the 4th quarter valued at about $30,000. Finally, Financial Life Planners acquired a new position in shares of EOG Resources during the first quarter worth approximately $30,000. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wolfe Research raised their price target on shares of EOG Resources from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Wells Fargo & Company set a $196.00 price objective on EOG Resources and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Piper Sandler upped their price objective 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 price objective 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, Barclays lifted their target price on EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources has a consensus rating of "Moderate Buy" and an average target price of $155.04.

EOG Resources Stock Up 0.7%

NYSE:EOG opened at $138.41 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The stock's fifty day simple moving average is $135.72 and its 200-day simple moving average is $128.47. The firm has a market capitalization of $73.72 billion, a P/E ratio of 13.62 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 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 business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the company posted $2.87 earnings per share. The firm's revenue was up 22.1% on a year-over-year basis. Equities research analysts expect that EOG Resources, Inc. will post 16.19 earnings per share for the current year.

EOG Resources Announces Dividend

The company 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 $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

EOG Resources Company Profile

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.

Want to see what other hedge funds are holding EOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EOG Resources, Inc. (NYSE:EOG - Free Report).

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.