Bank of New York Mellon Corp Invests $654.90 Million in EOG Resources, Inc. $EOG

Key Points

• Bank of New York Mellon purchased 5.05 million EOG Resources shares worth approximately $654.9 million, giving it a 0.95% stake; institutional investors collectively own 89.91% of the company.
• EOG recently exceeded quarterly expectations, reporting $5.07 in EPS and $8.62 billion in revenue, while revenue rose 57.4% year over year. Zacks raised several earnings estimates, though it maintained a “Hold” rating and reduced some longer-term forecasts.
• EOG declared a quarterly dividend of $1.02, or $4.08 annually, representing a 2.7% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $155.41.

Bank of New York Mellon Corp bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,048,172 shares of the energy exploration company's stock, valued at approximately $654,899,000. Bank of New York Mellon Corp owned 0.95% of EOG Resources as of its most recent SEC filing.

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

Key EOG Resources News

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Zacks raised its estimates for EOG’s third-quarter 2026 EPS to $4.42 from $3.87, full-year 2026 EPS to $16.78 from $15.59, first-quarter 2027 EPS to $4.08 from $3.47, and full-year 2027 EPS to $14.03 from $13.05. The upward revisions suggest stronger expected near-term profitability and are the primary bullish catalyst. EOG Resources analyst estimates
• Positive Sentiment: Zacks also increased estimates for fourth-quarter 2026 EPS to $3.88, fourth-quarter 2027 EPS to $3.33, first-quarter 2028 EPS to $3.50, and full-year 2028 EPS to $13.18. These revisions indicate analysts continue to see support for EOG’s earnings outlook beyond 2026.
• Neutral Sentiment: Zacks maintained a “Hold” rating, tempering the impact of the higher forecasts. The current-year consensus EPS estimate remains $16.43, while the company’s latest reported quarter exceeded expectations and revenue increased sharply year over year.
• Negative Sentiment: Some longer-term estimates were reduced: second-quarter 2027 EPS fell to $3.26 from $3.33, and second-quarter 2028 EPS declined to $3.10 from $3.49. These cuts point to possible moderation in earnings growth later in the forecast period.
• Negative Sentiment: Higher Treasury yields—including the 30-year yield briefly reaching a 19-year high—could pressure income-oriented and valuation-sensitive energy stocks by making bonds more competitive and raising financing costs. Dividend Stocks Lost the Yield War But May Still Beat the Market

EOG Resources Price Performance

Shares of NYSE EOG opened at $152.33 on Friday. The stock's 50-day simple moving average is $138.42 and its two-hundred day simple moving average is $134.87. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67. The firm has a market capitalization of $79.90 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.56 and a beta of 0.25. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the company posted $2.32 EPS. The company's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.55 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources's payout ratio is 31.75%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EOG shares. Sanford C. Bernstein lowered their target price on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a report on Wednesday, May 20th. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Freedom Capital cut EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered EOG Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $155.41.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source