Citizens Financial Group Inc. RI Invests $2.12 Million in EOG Resources, Inc. $EOG

Key Points

• Citizens Financial Group acquired 16,356 shares of EOG Resources during the second quarter, valued at approximately $2.12 million. Institutional investors and hedge funds collectively own 89.91% of EOG’s stock.
• EOG reported quarterly earnings of $5.07 per share and revenue of $8.62 billion, exceeding analyst estimates; revenue increased 57.4% year over year.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.

Citizens Financial Group Inc. RI acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,356 shares of the energy exploration company's stock, valued at approximately $2,122,000.

A number of other large investors have also modified their holdings of EOG. SJS Investment Consulting Inc. boosted its stake in EOG Resources by 225.5% during the first 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. Financial Life Planners acquired a new position in shares of EOG Resources in the 1st quarter valued at $30,000. Acumen Wealth Advisors LLC acquired a new position in EOG Resources in the fourth quarter worth about $25,000. Prosperity Bancshares Inc acquired a new stake in EOG Resources during the fourth quarter valued at approximately $26,000. Finally, Global Assets Advisory LLC acquired a new stake in EOG Resources during the first quarter valued at approximately $37,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG Resources stock opened at $145.95 on Tuesday. The stock has a 50-day simple moving average of $137.69 and a 200 day simple moving average of $134.06. The stock has a market capitalization of $76.56 billion, a price-to-earnings ratio of 11.36 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, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87.

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

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is 31.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EOG. DA Davidson increased their target price on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley decreased their price target on EOG Resources from $160.00 to $156.00 and set an "equal weight" rating on the stock in a research note on Friday, June 26th. Scotiabank upped their price target on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein dropped their price objective on EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a research note on Wednesday, May 20th. Finally, Freedom Capital cut EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. One equities research 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's stock. According to MarketBeat.com, EOG Resources currently has an average rating of "Hold" and an average price target of $156.00.

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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