First National Bank of Omaha Acquires New Stake in EOG Resources, Inc. $EOG

Key Points

• First National Bank of Omaha acquired 57,223 shares of EOG Resources in the second quarter, worth approximately $7.4 million. Institutional investors collectively own 89.91% of the company.
• EOG reported quarterly earnings of $5.07 per share, beating estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion.
• EOG declared a quarterly dividend of $1.02 per share, equivalent to an annualized $4.08 payout and a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.

First National Bank of Omaha bought a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,223 shares of the energy exploration company's stock, valued at approximately $7,424,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EOG. Summitry LLC lifted its stake in shares of EOG Resources by 1.5% in the 1st quarter. Summitry LLC now owns 4,832 shares of the energy exploration company's stock worth $699,000 after purchasing an additional 73 shares during the period. Twin Capital Management Inc. grew its position in EOG Resources by 0.3% during the first quarter. Twin Capital Management Inc. now owns 23,980 shares of the energy exploration company's stock valued at $3,467,000 after buying an additional 79 shares during the period. Sax Wealth Advisors LLC increased its holdings in EOG Resources by 2.8% during the second quarter. Sax Wealth Advisors LLC now owns 2,907 shares of the energy exploration company's stock valued at $377,000 after buying an additional 79 shares during the last quarter. Paladin Wealth LLC increased its holdings in EOG Resources by 5.3% during the second quarter. Paladin Wealth LLC now owns 1,593 shares of the energy exploration company's stock valued at $207,000 after buying an additional 80 shares during the last quarter. Finally, Hardy Reed LLC raised its position in EOG Resources by 3.8% in the first quarter. Hardy Reed LLC now owns 2,251 shares of the energy exploration company's stock worth $325,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $148.68 on Wednesday. The company has a market cap of $77.99 billion, a P/E ratio of 11.57 and a beta of 0.25. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm's fifty day moving average is $137.92 and its two-hundred day moving average is $134.33.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data 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 net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. The business's revenue was up 57.4% on a year-over-year basis. As a group, analysts anticipate that EOG Resources, Inc. will post 16.43 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. EOG Resources's dividend payout ratio is presently 31.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Roth Capital reiterated a "neutral" rating and set a $138.00 price target on shares of EOG Resources in a research note on Wednesday, August 5th. The Goldman Sachs Group reduced their price objective on EOG Resources from $139.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Zacks Research downgraded EOG Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Jefferies Financial Group reissued a "buy" rating and set a $175.00 price target (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Finally, DA Davidson raised their price objective on EOG Resources from $148.00 to $153.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $156.00.

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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