Bank of America Corp DE Trims Position in EOG Resources, Inc. $EOG

Key Points

• Bank of America reduced its EOG Resources stake by 5.6% in the first quarter, selling 243,395 shares and retaining 4.07 million shares worth approximately $588.5 million. Institutional investors collectively own 89.91% of EOG.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $155.32; individual targets range from $136 to $196.
• EOG shares opened at $148.54, while the company reported first-quarter EPS of $3.41 and revenue of $6.92 billion, exceeding estimates. EOG also pays a quarterly dividend of $1.02 per share, representing a 2.7% yield.

Bank of America Corp DE decreased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,070,931 shares of the energy exploration company's stock after selling 243,395 shares during the quarter. Bank of America Corp DE owned approximately 0.76% of EOG Resources worth $588,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in shares of EOG Resources by 135.0% in the first quarter. Janus Henderson Group PLC now owns 1,063,813 shares of the energy exploration company's stock worth $153,785,000 after buying an additional 611,036 shares during the last quarter. Bull Harbor Capital LLC purchased a new stake in EOG Resources during the first quarter valued at approximately $463,000. Strategic Investment Advisors MI purchased a new stake in EOG Resources during the first quarter valued at approximately $109,000. Amundi raised its position in EOG Resources by 7.1% in the first quarter. Amundi now owns 2,317,427 shares of the energy exploration company's stock worth $335,030,000 after acquiring an additional 152,690 shares during the period. Finally, Parvin Asset Management LLC raised its position in EOG Resources by 5.7% in the first quarter. Parvin Asset Management LLC now owns 13,755 shares of the energy exploration company's stock worth $1,989,000 after acquiring an additional 740 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EOG has been the topic of several analyst reports. Roth Capital reiterated a "neutral" rating and set a $136.00 price target on shares of EOG Resources in a research note on Wednesday, May 6th. Wells Fargo & Company set a $196.00 price objective on EOG Resources and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Raymond James Financial decreased their target price on EOG Resources from $186.00 to $176.00 and set a "strong-buy" rating on the stock in a report on Monday, June 22nd. Stephens lowered their target price on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. Finally, Williams Trading set a $177.00 price target on EOG Resources in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.32.

EOG Resources Stock Up 2.1%

NYSE EOG opened at $148.54 on Friday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month 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. The stock has a market cap of $79.12 billion, a PE ratio of 14.62 and a beta of 0.25. The stock's 50 day moving average is $136.95 and its 200 day moving average is $131.27.

EOG Resources (NYSE:EOG - Get Free Report) last announced 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 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 firm posted $2.87 EPS. The company's revenue was up 22.1% on a year-over-year basis. Research analysts predict that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, July 17th. EOG Resources's dividend payout ratio (DPR) is presently 40.16%.

EOG Resources 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.

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