PNC Financial Services Group Inc. Buys 9,334 Shares of EOG Resources, Inc. $EOG

PNC Financial Services Group Inc. increased its stake in EOG Resources, Inc. (NYSE:EOG) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,463 shares of the energy exploration company’s stock after purchasing an additional 9,334 shares during the period. PNC Financial Services Group Inc.’s holdings in EOG Resources were worth $28,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Twin Capital Management Inc. lifted its position in shares of EOG Resources by 0.3% in the first 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 in the last quarter. Hardy Reed LLC boosted its position in EOG Resources by 3.8% during the first 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 during the last quarter. Legacy Wealth Managment LLC ID boosted its position in EOG Resources by 39.5% during the first quarter. Legacy Wealth Managment LLC ID now owns 311 shares of the energy exploration company’s stock valued at $45,000 after purchasing an additional 88 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of EOG Resources by 2.1% in the 1st quarter. Fulton Bank N.A. now owns 4,577 shares of the energy exploration company’s stock valued at $662,000 after buying an additional 93 shares during the last quarter. Finally, Ethos Financial Group LLC grew its position in shares of EOG Resources by 2.5% in the 4th quarter. Ethos Financial Group LLC now owns 4,180 shares of the energy exploration company’s stock valued at $439,000 after acquiring an additional 100 shares during the period. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Price Performance

EOG Resources stock opened at $146.62 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $151.87. The stock has a market capitalization of $78.09 billion, a P/E ratio of 14.43 and a beta of 0.25. The stock has a fifty day moving average of $136.76 and a 200-day moving average of $129.90.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.EOG Resources’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.87 EPS. On average, sell-side analysts expect that EOG Resources, Inc. will post 16.19 earnings per share for the current fiscal year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, July 17th. EOG Resources’s dividend payout ratio is presently 40.16%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Capital One Financial reduced their price objective on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. The Goldman Sachs Group dropped their price objective on shares of EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. UBS Group decreased their target price on shares of EOG Resources from $168.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Mizuho set a $157.00 target price on EOG Resources and gave the company a “neutral” rating in a research report on Wednesday, May 27th. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.32.

EOG Resources 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.