EOG Resources, Inc. $EOG Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its EOG Resources stake by 167.5% in the second quarter, acquiring 538,686 additional shares and bringing its total holdings to 860,280 shares valued at approximately $111.6 million.
• EOG reported strong quarterly results, with EPS of $5.07 and revenue of $8.62 billion, surpassing analyst estimates; revenue rose 57.4% year over year.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to a 3.0% yield, while analysts maintained a consensus “Hold” rating and an average price target of $156.32.

Assenagon Asset Management S.A. increased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 167.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860,280 shares of the energy exploration company's stock after purchasing an additional 538,686 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of EOG Resources worth $111,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in EOG Resources by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company's stock valued at $5,651,172,000 after purchasing an additional 446,341 shares during the period. State Street Corp lifted its holdings in shares of EOG Resources by 0.3% in the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company's stock valued at $3,209,365,000 after purchasing an additional 100,080 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company's stock worth $2,099,028,000 after buying an additional 371,548 shares during the period. Geode Capital Management LLC boosted its position in shares of EOG Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 13,046,709 shares of the energy exploration company's stock worth $1,364,309,000 after buying an additional 95,260 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of EOG Resources by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,507,760 shares of the energy exploration company's stock valued at $683,382,000 after buying an additional 122,112 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Down 1.2%

EOG opened at $134.61 on Friday. The firm has a market cap of $70.60 billion, a P/E ratio of 10.48 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 1.85. The business has a 50 day moving average price of $137.23 and a 200 day moving average price of $132.37. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $151.87.

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 the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the company posted $2.32 earnings per share. The company's revenue for the quarter was up 57.4% compared to the same quarter last year. Research analysts forecast that EOG Resources, Inc. will post 16.3 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is currently 40.16%.

Analysts Set New Price Targets

EOG has been the topic of several recent analyst reports. UBS Group dropped their price target on EOG Resources from $168.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $183.00 target price on shares of EOG Resources in a research note on Monday. Weiss Ratings upgraded EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Stephens decreased their price target on shares of EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $156.32.

EOG Resources Company 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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