MidFirst Bank Acquires New Shares in EOG Resources, Inc. $EOG

Key Points

• MidFirst Bank disclosed a new stake in EOG Resources, buying 28,834 shares valued at about $2.82 million in the fourth quarter. Several other institutional investors also added positions, and institutions now own 89.91% of the stock.
• Analyst sentiment on EOG remains positive overall, with multiple firms raising price targets or upgrading ratings. The consensus rating is Moderate Buy, and the average target price stands at $156.32.
• EOG reported stronger-than-expected quarterly results, posting $3.41 EPS on $6.92 billion in revenue and raising its dividend to $1.02 per share quarterly, or $4.08 annually, for a 3.1% yield.

MidFirst Bank bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,834 shares of the energy exploration company's stock, valued at approximately $2,823,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SG Trading Solutions LLC purchased a new position in shares of EOG Resources in the fourth quarter worth $630,000. Stone Wealth Partners purchased a new stake in shares of EOG Resources during the fourth quarter valued at $260,000. Sonoma Allocations LLC purchased a new stake in shares of EOG Resources during the fourth quarter valued at $331,000. MV Capital Management Inc. bought a new stake in EOG Resources in the 4th quarter worth about $123,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in EOG Resources by 17.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,275 shares of the energy exploration company's stock worth $1,079,000 after buying an additional 1,497 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on EOG. Wells Fargo & Company set a $196.00 target price on shares of EOG Resources and gave the company an "overweight" rating in a research note on Wednesday, May 13th. 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. Scotiabank boosted their price objective on shares of EOG Resources from $123.00 to $139.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. DA Davidson increased their price objective on shares of EOG Resources from $148.00 to $153.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.32.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 5,698 shares of the company's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the sale, the chief operating officer owned 88,045 shares in the company, valued at $13,234,924.40. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

EOG Resources Trading Down 2.4%

Shares of EOG Resources stock opened at $130.05 on Friday. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87. The company's fifty day simple moving average is $136.14 and its 200-day simple moving average is $124.71. 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 stock has a market capitalization of $69.27 billion, a PE ratio of 12.80 and a beta of 0.25.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the business posted $2.87 EPS. EOG Resources's revenue was up 22.1% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.63 earnings per share for the current year.

EOG Resources Dividend Announcement

The business also recently declared 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 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources's payout ratio is currently 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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