Saudi Central Bank Has $4.87 Million Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Saudi Central Bank increased its EOG Resources stake by 87.2% in the second quarter, bringing its holdings to 37,500 shares valued at approximately $4.87 million. Institutional investors collectively own 89.91% of EOG’s stock.
• EOG reported strong quarterly results, with earnings of $5.07 per share and revenue of $8.62 billion, up 57.4% year over year and exceeding analyst expectations.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a $157.04 target price. EOG also announced a quarterly dividend of $1.02 per share, equivalent to a 2.8% annualized yield.

Saudi Central Bank grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 87.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,500 shares of the energy exploration company's stock after buying an additional 17,472 shares during the period. Saudi Central Bank's holdings in EOG Resources were worth $4,865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EOG. BlackRock Inc. bought a new stake in EOG Resources during the 2nd quarter worth approximately $5,905,587,000. Bank of New York Mellon Corp bought a new stake in EOG Resources during the 2nd quarter worth about $654,899,000. Bank of America Corp DE acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $551,321,000. Deutsche Bank AG bought a new stake in EOG Resources during the second quarter worth $251,102,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in EOG Resources in the 2nd quarter valued at about $168,029,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

In other news, CEO Ezra Yacob sold 35,942 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EOG. Seaport Research Partners began coverage on shares of EOG Resources in a research report on Thursday. They set a "neutral" rating for the company. Roth Capital reaffirmed a "neutral" rating and issued a $138.00 price objective on shares of EOG Resources in a report on Wednesday, August 5th. Freedom Capital downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded EOG Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Barclays set a $147.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $157.04.

EOG Resources Price Performance

Shares of NYSE EOG opened at $145.11 on Monday. The company has a market capitalization of $76.11 billion, a PE ratio of 11.29, a P/E/G ratio of 0.54 and a beta of 0.26. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $141.49 and a 200 day simple moving average of $137.35. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.32 EPS. On average, sell-side analysts forecast that EOG Resources, Inc. will post 16.89 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 $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. EOG Resources's dividend payout ratio (DPR) is currently 31.75%.

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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