EOG Resources, Inc. $EOG Shares Purchased by KBC Group NV

Key Points

• KBC Group NV increased its stake in EOG Resources by 40% in the first quarter, holding 353,514 shares valued at about $51.1 million.
• Several analysts remain mixed on the stock: EOG currently has a Moderate Buy consensus rating, with an average price target of $155.04, though some firms recently downgraded or trimmed targets.
• EOG reported better-than-expected first-quarter results, including EPS of $3.41 versus $3.23 expected and revenue of $6.92 billion, and it also announced a quarterly dividend of $1.02 per share.

KBC Group NV increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 40.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,514 shares of the energy exploration company's stock after acquiring an additional 101,044 shares during the period. KBC Group NV owned approximately 0.07% of EOG Resources worth $51,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised 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 purchasing an additional 124 shares during the last quarter. Financial Life Planners purchased a new stake in EOG Resources in the first quarter valued at approximately $30,000. Acumen Wealth Advisors LLC purchased a new stake in EOG Resources in the fourth quarter valued at approximately $25,000. Prosperity Bancshares Inc acquired a new position in EOG Resources in the 4th quarter worth approximately $26,000. Finally, Global Assets Advisory LLC acquired a new position in EOG Resources in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EOG. Roth Capital restated a "neutral" rating and set a $136.00 price objective on shares of EOG Resources in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of EOG Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Wolfe Research raised their target price on shares of EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Zacks Research cut shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, Truist Financial decreased their target price on shares of EOG Resources from $149.00 to $134.00 and set a "hold" rating for the company in a research report on Wednesday, July 1st. One investment 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 company. According to MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and an average price target of $155.04.

EOG Resources Trading Up 0.8%

Shares of EOG stock opened at $141.04 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The company has a market cap of $75.12 billion, a price-to-earnings ratio of 13.88 and a beta of 0.25. The stock has a 50 day simple moving average of $136.07 and a 200-day simple moving average of $128.97. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results 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. The firm 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%.The business's revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.87 EPS. On average, equities research analysts expect that EOG Resources, Inc. will post 16.19 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $1.02 per share. 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 dividend payout ratio (DPR) is presently 40.16%.

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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