Mediolanum International Funds Ltd Has $10.84 Million Stock Position in EOG Resources, Inc. $EOG

Key Points

• Mediolanum International Funds Ltd cut its EOG Resources stake by 25.7% in the first quarter, selling 25,083 shares and leaving it with 72,328 shares valued at about $10.84 million.
• EOG Resources reported better-than-expected quarterly results, earning $3.41 per share versus $3.23 expected, while revenue rose 22.1% year over year to $6.92 billion.
• The company declared a quarterly dividend of $1.02 per share, implying a 2.9% annualized yield, and Wall Street currently rates the stock Moderate Buy with an average target price of $155.04.

Mediolanum International Funds Ltd lowered its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 25.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,328 shares of the energy exploration company's stock after selling 25,083 shares during the quarter. Mediolanum International Funds Ltd's holdings in EOG Resources were worth $10,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new stake in EOG Resources in the 4th quarter valued at $25,000. SJS Investment Consulting Inc. increased its holdings in EOG Resources by 225.5% during the 1st 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 in the last quarter. Prosperity Bancshares Inc acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $26,000. Nemes Rush Group LLC acquired a new stake in shares of EOG Resources in the 4th quarter valued at about $30,000. Finally, Financial Life Planners bought a new stake in shares of EOG Resources in the first quarter valued at about $30,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG opened at $139.80 on Monday. 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 firm has a 50-day moving average of $135.91 and a 200-day moving average of $128.72. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The company has a market cap of $74.46 billion, a PE ratio of 13.76 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the firm earned $2.87 earnings per share. The company's revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that EOG Resources, Inc. will post 16.19 earnings per share for the current year.

EOG Resources Dividend Announcement

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

Wall Street Analyst Weigh In

EOG has been the subject of several recent research reports. BMO Capital Markets upped their price objective on EOG Resources from $140.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Roth Capital reissued a "neutral" rating and issued a $136.00 target price on shares of EOG Resources in a research report on Wednesday, May 6th. Scotiabank boosted their target price on EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Wolfe Research upped their price target on EOG Resources from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Finally, Raymond James Financial decreased their price target on shares of EOG Resources from $186.00 to $176.00 and set a "strong-buy" rating for the company in a research note on Monday, June 22nd. 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's stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and an average target price of $155.04.

About EOG Resources

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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