Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 812,762 shares of the energy exploration company’s stock after selling 96,431 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.14% of EOG Resources worth $67,787,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EOG. Sierra Capital LLC bought a new position in EOG Resources in the 1st quarter valued at approximately $27,000. North Star Investment Management Corp. grew its holdings in EOG Resources by 72.2% in the second quarter. North Star Investment Management Corp. now owns 384 shares of the energy exploration company’s stock worth $32,000 after purchasing an additional 161 shares during the period. Eagle Bay Advisors LLC acquired a new stake in EOG Resources in the second quarter worth $33,000. Optimum Investment Advisors acquired a new position in shares of EOG Resources during the second quarter valued at about $33,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of EOG Resources during the second quarter valued at about $33,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
Several brokerages have commented on EOG. Sanford C. Bernstein lifted their price objective on shares of EOG Resources from $92.00 to $114.00 and gave the stock an “outperform” rating in a research report on Monday, June 21st. Piper Sandler boosted their price objective on shares of EOG Resources from $97.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, July 22nd. Scotiabank cut shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price target for the company. in a research note on Thursday, July 15th. Truist Securities lowered shares of EOG Resources from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $101.00 to $79.00 in a report on Monday, August 30th. Finally, Truist lowered shares of EOG Resources from a “buy” rating to a “hold” rating and lowered their price target for the company from $101.00 to $79.00 in a report on Monday, August 30th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $87.33.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Wednesday, August 4th. The energy exploration company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.19. EOG Resources had a return on equity of 12.77% and a net margin of 14.40%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company’s revenue was up 275.2% compared to the same quarter last year. Equities analysts forecast that EOG Resources, Inc. will post 7.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, October 14th. EOG Resources’s payout ratio is currently 113.01%.
EOG Resources Company Profile
EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.
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