EOG Resources, Inc. (NYSE:EOG) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,649,488 shares of the energy exploration company's stock after purchasing an additional 34,476 shares during the quarter. EOG Resources comprises about 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 28th biggest position. Allspring Global Investments Holdings LLC owned approximately 0.48% of EOG Resources worth $342,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Mainstream Capital Management LLC purchased a new stake in shares of EOG Resources during the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in EOG Resources in the 4th quarter worth approximately $28,000. Heritage Wealth Advisors grew its position 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 purchasing an additional 208 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in EOG Resources during the 1st quarter worth approximately $34,000. Finally, Ameriflex Group Inc. acquired a new position in EOG Resources during the 4th quarter valued at approximately $36,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Williams Trading set a $154.00 price target on EOG Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $149.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $148.00 target price (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.48.

EOG Resources Price Performance

Shares of NYSE:EOG traded up $1.50 during midday trading on Tuesday, hitting $121.11. The company's stock had a trading volume of 3,650,819 shares, compared to its average volume of 3,397,618. The company has a market cap of $66.10 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 9.71 and a beta of 0.74. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The business's 50 day simple moving average is $114.91 and its 200 day simple moving average is $121.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.71 and a current ratio of 1.87.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.12. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The business's revenue was down 7.4% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. On average, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, October 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.37%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. EOG Resources's payout ratio is 36.18%.

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.