Bank of New York Mellon Corp Grows Stake in EOG Resources, Inc. $EOG

Bank of New York Mellon Corp grew its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 23.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,669,969 shares of the energy exploration company’s stock after acquiring an additional 901,897 shares during the period. Bank of New York Mellon Corp’s holdings in EOG Resources were worth $490,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EOG. Westpac Banking Corp purchased a new position in EOG Resources during the fourth quarter valued at approximately $63,000. SCP Investment LP purchased a new stake in shares of EOG Resources during the fourth quarter valued at $1,386,000. Peak Retirement Planning Inc. grew its holdings in shares of EOG Resources by 35.1% during the fourth quarter. Peak Retirement Planning Inc. now owns 19,332 shares of the energy exploration company’s stock valued at $2,030,000 after buying an additional 5,021 shares during the last quarter. AXQ Capital LP grew its holdings in shares of EOG Resources by 45.0% during the fourth quarter. AXQ Capital LP now owns 20,688 shares of the energy exploration company’s stock valued at $2,172,000 after buying an additional 6,418 shares during the last quarter. Finally, COFG Advisors LLC acquired a new position in EOG Resources during the fourth quarter valued at $248,000. Institutional investors own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of analyst reports. Roth Mkm reiterated a “neutral” rating and issued a $136.00 price objective on shares of EOG Resources in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of EOG Resources from $145.00 to $148.00 in a research note on Thursday, May 7th. Wolfe Research upped their price objective on shares of EOG Resources from $152.00 to $154.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Citigroup reissued 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, Scotiabank increased their price target on shares of EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.32.

EOG Resources Stock Up 2.2%

EOG stock opened at $141.68 on Thursday. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87. The stock has a market capitalization of $75.46 billion, a PE ratio of 13.94 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.53 and a current ratio of 1.72. The company has a fifty day moving average of $138.01 and a 200-day moving average of $122.49.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.87 earnings per share. As a group, analysts expect that EOG Resources, Inc. will post 15.67 EPS for the current year.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $1.02 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. EOG Resources’s dividend payout ratio is presently 40.16%.

Insider Buying and Selling at EOG Resources

In other news, CFO Ann D. Janssen sold 4,161 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $140.04, for a total value of $582,706.44. Following the completion of the transaction, the chief financial officer directly owned 100,246 shares in the company, valued at approximately $14,038,449.84. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey R. Leitzell sold 5,698 shares of EOG Resources stock in a transaction dated Tuesday, March 31st. The stock was 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 owned 88,045 shares of the company’s stock, valued at $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,456 shares of company stock valued at $1,788,033 in the last three months. Company insiders own 0.14% of the company’s stock.

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.