Mediolanum International Funds Ltd Has $15.01 Million Stake in EOG Resources, Inc. (NYSE:EOG)

Key Points

• Mediolanum International Funds Ltd increased its holdings in EOG Resources by 17.9%, now owning 118,533 shares worth approximately $15 million.
• EOG Resources reported earnings of $2.87 per share, exceeding estimates, but its revenue decreased by 7.4% year-over-year, totaling $5.84 billion.
• The company announced a quarterly dividend of $1.02 per share, marking an increase from the previous dividend of $0.98, with an annual yield of 3.45%.

Mediolanum International Funds Ltd lifted its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 118,533 shares of the energy exploration company's stock after purchasing an additional 18,002 shares during the quarter. Mediolanum International Funds Ltd's holdings in EOG Resources were worth $15,005,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EOG. Hancock Whitney Corp grew its holdings in EOG Resources by 5.7% during the 4th quarter. Hancock Whitney Corp now owns 1,719 shares of the energy exploration company's stock worth $211,000 after acquiring an additional 92 shares during the last quarter. FSM Wealth Advisors LLC grew its holdings in EOG Resources by 6.2% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after acquiring an additional 95 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in EOG Resources by 26.5% during the 4th quarter. Loomis Sayles & Co. L P now owns 463 shares of the energy exploration company's stock worth $57,000 after acquiring an additional 97 shares during the last quarter. Sigma Planning Corp grew its holdings in EOG Resources by 1.6% during the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after acquiring an additional 97 shares during the last quarter. Finally, Advisor OS LLC grew its holdings in EOG Resources by 3.7% during the 1st quarter. Advisor OS LLC now owns 2,853 shares of the energy exploration company's stock worth $366,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and cut their target price for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Scotiabank raised shares of EOG Resources from a "sector perform" rating to a "sector outperform" rating and reduced their target price for the company from $150.00 to $130.00 in a research note on Friday, April 11th. KeyCorp reduced their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Royal Bank Of Canada reduced their target price on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of "Moderate Buy" and an average target price of $140.62.

EOG Resources Price Performance

NYSE EOG traded down $1.22 during trading on Wednesday, hitting $121.93. 663,290 shares of the company's stock were exchanged, compared to its average volume of 3,677,187. 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 cap of $66.55 billion, a PE ratio of 11.31, a P/E/G ratio of 9.35 and a beta of 0.76. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The stock's 50 day moving average price is $118.45 and its two-hundred day moving average price is $120.88.

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

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $1.02 per share. This is a boost from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, October 17th. EOG Resources's payout ratio is 36.18%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

EOG Resources 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.