Mitsubishi UFJ Asset Management Co. Ltd. Invests $168.03 Million in EOG Resources, Inc. $EOG

Key Points

• Mitsubishi UFJ Asset Management acquired 1.30 million EOG Resources shares worth approximately $168 million, giving it a 0.25% stake. Institutional investors collectively own 89.91% of EOG’s outstanding stock.
• EOG reported quarterly EPS of $5.07, beating estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Analysts expect full-year EPS of $16.43.
• EOG declared a quarterly dividend of $1.02 per share, equal to $4.08 annually and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $156.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,295,221 shares of the energy exploration company's stock, valued at approximately $168,029,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.25% of EOG Resources at the end of the most recent reporting period.

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

EOG Resources Price Performance

NYSE:EOG opened at $145.95 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The firm has a market cap of $76.56 billion, a price-to-earnings ratio of 11.36 and a beta of 0.25. The company has a 50 day moving average price of $137.69 and a 200-day moving average price of $134.06. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $151.87.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the firm posted $2.32 earnings per share. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. Equities research analysts forecast that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources's dividend payout ratio is presently 31.75%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EOG. Sanford C. Bernstein dropped their price objective on shares of EOG Resources from $167.00 to $155.00 and set a "market perform" rating on the stock in a report on Wednesday, May 20th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $183.00 price target on shares of EOG Resources in a research report on Monday, August 3rd. Scotiabank boosted their price target 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. JPMorgan Chase & Co. cut their price objective on EOG Resources from $148.00 to $142.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Finally, Capital One Financial decreased their target price on EOG Resources from $161.00 to $159.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat.com, EOG Resources has a consensus rating of "Hold" and a consensus price target of $156.00.

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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