EOG Resources, Inc. (NYSE:EOG) Holdings Boosted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its ownership in EOG Resources, Inc. by 53.1% during the first quarter, holding 576,523 shares valued at approximately $73.93 million.
• EOG Resources announced a quarterly dividend of $1.02 per share, up from the previous $0.98, representing an annualized yield of 3.31%.
• The company reported an earnings per share (EPS) of $2.87 in its latest quarter, beating analyst expectations, despite a revenue decline of 7.4% year-over-year.

Federated Hermes Inc. increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 53.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 576,523 shares of the energy exploration company's stock after buying an additional 199,920 shares during the quarter. Federated Hermes Inc. owned about 0.11% of EOG Resources worth $73,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its position in EOG Resources by 14.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after purchasing an additional 106,677 shares during the period. ARGA Investment Management LP raised its position in EOG Resources by 24.2% in the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares during the period. CWA Asset Management Group LLC raised its position in EOG Resources by 15.3% in the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in EOG Resources by 37.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc raised its position in EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after purchasing an additional 8,127 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

EOG Resources Price Performance

NYSE:EOG traded down $1.14 during midday trading on Thursday, hitting $120.10. 2,657,234 shares of the stock were exchanged, compared to its average volume of 2,769,151. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $65.55 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 9.31 and a beta of 0.76. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The business has a 50-day moving average price of $118.83 and a two-hundred day moving average price of $120.78.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy exploration company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.12. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. EOG Resources had a net margin of 26.14% and a return on equity of 22.35%. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.4%. This is a positive change from EOG Resources's previous quarterly dividend of $0.98. The ex-dividend date is Friday, October 17th. EOG Resources's dividend payout ratio (DPR) is presently 36.18%.

Wall Street Analysts Forecast Growth

EOG has been the subject of several recent analyst reports. Scotiabank upgraded EOG Resources from a "sector perform" rating to a "sector outperform" rating and lowered their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. Susquehanna lifted their price target on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada decreased their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. KeyCorp decreased their price target on EOG Resources from $150.00 to $140.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.62.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.