EOG Resources, Inc. $EOG Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in EOG Resources by 5.5% in the first quarter, buying 259,015 additional shares and bringing its total holding to 4.93 million shares worth about $712.6 million.
• EOG Resources beat earnings expectations in its latest quarter, posting $3.41 EPS versus the $3.23 consensus and revenue of $6.92 billion, up 22.1% from a year earlier.
• The company also declared a quarterly dividend of $1.02 per share, which works out to a 2.9% annual yield, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $155.04.

Bank of New York Mellon Corp boosted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,928,984 shares of the energy exploration company's stock after acquiring an additional 259,015 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of EOG Resources worth $712,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. increased its stake in shares of EOG Resources by 225.5% in the first quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company's stock worth $26,000 after acquiring an additional 124 shares during the period. Financial Life Planners acquired a new position in EOG Resources during the first quarter valued at $30,000. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the fourth quarter valued at $25,000. Prosperity Bancshares Inc acquired a new stake in EOG Resources during the 4th quarter worth about $26,000. Finally, Global Assets Advisory LLC acquired a new stake in EOG Resources during the 1st quarter worth about $37,000. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Stock Performance

NYSE EOG opened at $138.41 on Friday. The stock has a market capitalization of $73.72 billion, a price-to-earnings ratio of 13.62 and a beta of 0.25. The stock has a 50-day moving average of $135.72 and a 200 day moving average of $128.47. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. 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 issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources's quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $2.87 earnings per share. Sell-side analysts anticipate that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's payout ratio is presently 40.16%.

Analyst Ratings Changes

EOG has been the subject of several analyst reports. Sanford C. Bernstein decreased their price objective on EOG Resources from $167.00 to $155.00 and set a "market perform" rating for the company in a report on Wednesday, May 20th. Wells Fargo & Company set a $196.00 target price on EOG Resources and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Stephens reduced their price target on EOG Resources from $170.00 to $167.00 in a research report on Wednesday, May 6th. Capital One Financial decreased their price target on EOG Resources from $161.00 to $159.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Finally, Williams Trading set a $177.00 price objective on shares of EOG Resources in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.04.

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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