AMG National Trust Bank Buys New Holdings in EOG Resources, Inc. $EOG

Key Points

• AMG National Trust Bank acquired 7,092 shares of EOG Resources during the second quarter, worth approximately $920,000. Institutional investors collectively own 89.91% of the company.
• EOG reported quarterly earnings of $5.07 per share, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion.
• The company declared a quarterly dividend of $1.02, equivalent to an annualized $4.08 payout and a 2.9% yield. Analysts have a consensus “Hold” rating and an average price target of $156.21.

AMG National Trust Bank purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,092 shares of the energy exploration company's stock, valued at approximately $920,000.

Other large investors have also bought and sold shares of the company. Ilmarinen Mutual Pension Insurance Co boosted its stake in EOG Resources by 39.2% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 87,000 shares of the energy exploration company's stock worth $9,136,000 after acquiring an additional 24,500 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in EOG Resources by 66.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,745 shares of the energy exploration company's stock valued at $2,073,000 after purchasing an additional 7,877 shares during the last quarter. Cumberland Partners Ltd increased its holdings in EOG Resources by 432.0% in the 4th quarter. Cumberland Partners Ltd now owns 15,470 shares of the energy exploration company's stock worth $1,625,000 after buying an additional 12,562 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of EOG Resources by 2.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,150,840 shares of the energy exploration company's stock worth $123,451,000 after acquiring an additional 24,984 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in EOG Resources by 8.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 309,888 shares of the energy exploration company's stock valued at $32,541,000 after buying an additional 24,960 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

NYSE:EOG opened at $142.55 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $74.77 billion, a P/E ratio of 11.09 and a beta of 0.25. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The business's 50-day moving average is $137.57 and its 200 day moving average is $133.80.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 earnings per share. On average, equities research analysts forecast that EOG Resources, Inc. will post 16.43 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, October 16th. EOG Resources's payout ratio is currently 31.75%.

Wall Street Analysts Forecast Growth

EOG has been the subject of several research reports. UBS Group reduced their price target on shares of EOG Resources from $168.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 2nd. DA Davidson boosted their price objective on EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Zacks Research downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Barclays increased their price objective on shares of EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Finally, Williams Trading set a $177.00 price objective on shares of EOG Resources in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $156.21.

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.

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