People s United Financial Inc. Raises Stock Position in EOG Resources, Inc. (NYSE:EOG)

People s United Financial Inc. raised its stake in shares of EOG Resources, Inc. (NYSE:EOGGet Rating) by 52.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,560 shares of the energy exploration company’s stock after purchasing an additional 6,402 shares during the quarter. People s United Financial Inc.’s holdings in EOG Resources were worth $2,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in EOG Resources by 4.9% during the 4th quarter. BlackRock Inc. now owns 46,118,313 shares of the energy exploration company’s stock valued at $4,096,689,000 after purchasing an additional 2,140,573 shares during the period. State Street Corp boosted its holdings in shares of EOG Resources by 2.0% during the 4th quarter. State Street Corp now owns 36,245,826 shares of the energy exploration company’s stock valued at $3,219,717,000 after buying an additional 709,647 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 10,346,154 shares of the energy exploration company’s stock valued at $917,640,000 after buying an additional 312,449 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of EOG Resources by 0.5% during the 4th quarter. Northern Trust Corp now owns 7,013,009 shares of the energy exploration company’s stock valued at $622,966,000 after buying an additional 31,590 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of EOG Resources by 12.6% during the 4th quarter. Alliancebernstein L.P. now owns 6,404,470 shares of the energy exploration company’s stock valued at $568,909,000 after buying an additional 715,705 shares in the last quarter. 85.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EOG. MKM Partners restated a “buy” rating and set a $123.00 target price on shares of EOG Resources in a report on Wednesday, July 20th. Johnson Rice upgraded shares of EOG Resources from a “hold” rating to a “buy” rating and boosted their target price for the company from $155.00 to $165.00 in a report on Tuesday, May 24th. Barclays set a $165.00 target price on shares of EOG Resources in a report on Tuesday, July 19th. Royal Bank of Canada cut shares of EOG Resources from an “outperform” rating to a “sector perform” rating and set a $150.00 price target on the stock. in a research note on Wednesday, July 6th. Finally, Bank of America upgraded shares of EOG Resources from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $146.00 to $119.00 in a research note on Tuesday, July 19th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.79.

Insider Activity

In other news, CFO Timothy K. Driggers sold 3,484 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $135.51, for a total transaction of $472,116.84. Following the completion of the sale, the chief financial officer now owns 214,691 shares of the company’s stock, valued at approximately $29,092,777.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Ann D. Janssen sold 1,905 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $140.60, for a total transaction of $267,843.00. Following the completion of the sale, the chief accounting officer now owns 66,980 shares of the company’s stock, valued at approximately $9,417,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy K. Driggers sold 3,484 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $135.51, for a total transaction of $472,116.84. Following the sale, the chief financial officer now directly owns 214,691 shares of the company’s stock, valued at approximately $29,092,777.41. The disclosure for this sale can be found here. Insiders sold 6,395 shares of company stock valued at $883,134 in the last quarter. 0.40% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $112.28 on Tuesday. EOG Resources, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $147.99. The business has a 50-day simple moving average of $111.76 and a two-hundred day simple moving average of $117.19. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.29 and a current ratio of 1.41. The firm has a market cap of $65.80 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.23 and a beta of 1.62.

EOG Resources (NYSE:EOGGet Rating) last issued its earnings results on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $4.25 by ($1.51). EOG Resources had a return on equity of 32.03% and a net margin of 25.71%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period last year, the firm posted $1.73 EPS. EOG Resources’s quarterly revenue was up 79.0% compared to the same quarter last year. On average, analysts expect that EOG Resources, Inc. will post 15.73 earnings per share for the current year.

EOG Resources Increases Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.50 per share. The ex-dividend date is Wednesday, September 14th. This is a positive change from EOG Resources’s previous special dividend of $1.00. EOG Resources’s dividend payout ratio is presently 30.77%.

About EOG Resources

(Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

Further Reading

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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