Fifth Third Bancorp Buys 4,349 Shares of EOG Resources, Inc. $EOG

Fifth Third Bancorp grew its stake in EOG Resources, Inc. (NYSE:EOG) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 305,919 shares of the energy exploration company’s stock after purchasing an additional 4,349 shares during the quarter. Fifth Third Bancorp’s holdings in EOG Resources were worth $42,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Byrne Asset Management LLC lifted its stake in EOG Resources by 469.4% in the 3rd quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company’s stock valued at $29,000 after buying an additional 169 shares in the last quarter. Elevated Capital Advisors LLC acquired a new stake in EOG Resources in the 3rd quarter worth about $30,000. Wedbush Fund Advisers LLC acquired a new stake in EOG Resources in the 2nd quarter worth about $31,000. Main Street Group LTD acquired a new stake in EOG Resources in the 1st quarter worth about $38,000. Finally, Pingora Partners LLC purchased a new stake in EOG Resources during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, COO Jeffrey Leitzell sold 9,039 shares of EOG Resources stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the transaction, the chief operating officer owned 90,790 shares in the company, valued at approximately $12,765,981.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Donaldson sold 7,336 shares of EOG Resources stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by insiders.

EOG Resources Stock Up 1.3%

Shares of NYSE EOG opened at $155.72 on Friday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $165.93. The stock has a market cap of $80.74 billion, a PE ratio of 10.06, a P/E/G ratio of 0.54 and a beta of 0.27. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $149.80 and a 200 day moving average of $138.73.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42. EOG Resources had a net margin of 27.54% and a return on equity of 26.32%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. EOG Resources’s quarterly revenue was up 46.2% on a year-over-year basis. As a group, sell-side analysts predict that EOG Resources, Inc. will post 17.96 EPS for the current fiscal year.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 15th will be issued a $1.10 dividend. This is a boost from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, January 15th. EOG Resources’s payout ratio is 26.36%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EOG. Roth Capital reissued a “neutral” rating and set a $138.00 target price on shares of EOG Resources in a report on Wednesday, August 5th. Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Raymond James Financial reiterated a “strong-buy” rating and set a $186.00 price target (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 price target on shares of EOG Resources in a research report on Saturday, October 3rd. Finally, Weiss Ratings raised EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average target price of $162.32.

EOG Resources Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations. The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.