MidFirst Bank Makes New Investment in EOG Resources, Inc. $EOG

MidFirst Bank acquired a new position in EOG Resources, Inc. (NYSE:EOG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,834 shares of the energy exploration company’s stock, valued at approximately $2,823,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Capital World Investors boosted its holdings in EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock worth $6,156,495,000 after buying an additional 782,426 shares during the period. Vanguard Group Inc. raised its holdings in EOG Resources by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 53,815,556 shares of the energy exploration company’s stock valued at $5,651,172,000 after acquiring an additional 446,341 shares during the period. State Street Corp raised its holdings in EOG Resources by 0.3% during the fourth quarter. State Street Corp now owns 30,562,470 shares of the energy exploration company’s stock valued at $3,209,365,000 after acquiring an additional 100,080 shares during the period. Capital Research Global Investors lifted its position in shares of EOG Resources by 0.5% in the third quarter. Capital Research Global Investors now owns 24,926,659 shares of the energy exploration company’s stock valued at $2,794,784,000 after acquiring an additional 122,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of EOG Resources by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,988,840 shares of the energy exploration company’s stock valued at $2,099,028,000 after acquiring an additional 371,548 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Activity at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 5,698 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total value of $856,523.36. Following the completion of the transaction, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

EOG Resources Trading Down 2.4%

Shares of EOG stock opened at $130.05 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 12.80 and a beta of 0.25. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The stock’s 50-day moving average price is $136.14 and its 200-day moving average price is $124.71.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.87 earnings per share. Equities research analysts predict that EOG Resources, Inc. will post 16.63 EPS for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, July 17th. EOG Resources’s dividend payout ratio is 40.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein dropped their price objective on EOG Resources from $167.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, May 20th. DA Davidson lifted their target price on EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial boosted their price target on EOG Resources from $146.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Citigroup restated a “neutral” rating and issued a $147.00 price target (up from $142.00) on shares of EOG Resources in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group increased their price objective on shares of EOG Resources from $146.00 to $170.00 and gave the company a “buy” rating in a report on Monday, April 13th. 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. According to MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.32.

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.