EOG Resources, Inc. (NYSE:EOG) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in EOG Resources, Inc. by 5.0% in Q1, owning 181,277 shares valued at $23.20 million following an additional purchase of 8,664 shares.
• Research analysts have updated their ratings on EOG Resources, with Jefferies Financial Group setting a target price of $148.00, while the consensus target price is $140.71.
• EOG Resources declared a new quarterly dividend of $1.02 per share, increasing from the previous dividend of $0.98, with a yield of 3.5%.

Resona Asset Management Co. Ltd. raised its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 181,277 shares of the energy exploration company's stock after purchasing an additional 8,664 shares during the period. Resona Asset Management Co. Ltd.'s holdings in EOG Resources were worth $23,203,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of EOG Resources during the first quarter worth about $451,908,000. Capital World Investors grew its stake in EOG Resources by 5.2% in the fourth quarter. Capital World Investors now owns 45,919,327 shares of the energy exploration company's stock valued at $5,628,497,000 after acquiring an additional 2,270,013 shares during the period. GAMMA Investing LLC lifted its holdings in shares of EOG Resources by 14,784.1% in the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after purchasing an additional 1,272,765 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of EOG Resources by 58.6% in the fourth quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after purchasing an additional 769,362 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Down 0.6%

Shares of EOG stock traded down $0.73 during midday trading on Friday, reaching $119.06. 2,944,305 shares of the stock were exchanged, compared to its average volume of 3,639,455. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company's 50 day moving average is $120.19 and its two-hundred day moving average is $119.56. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $65.01 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 9.19 and a beta of 0.80.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from EOG Resources's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 3.4%. EOG Resources's payout ratio is presently 37.90%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America dropped their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Stephens began coverage on EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective on the stock. Barclays lifted their target price on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Raymond James Financial boosted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 22nd. Twelve investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.71.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by insiders.

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.