MidFirst Bank Makes New $4.63 Million Investment in EOG Resources, Inc. $EOG

MidFirst Bank acquired a new stake in EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 35,725 shares of the energy exploration company’s stock, valued at approximately $4,635,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in EOG Resources in the 2nd quarter valued at $5,905,587,000. Bank of New York Mellon Corp acquired a new position in shares of EOG Resources during the 2nd quarter worth about $654,899,000. Deutsche Bank AG acquired a new position in shares of EOG Resources during the 2nd quarter worth about $251,102,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of EOG Resources in the 2nd quarter valued at about $168,029,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of EOG Resources by 898.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock valued at $205,411,000 after acquiring an additional 1,278,555 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Trading Up 2.3%

Shares of NYSE:EOG opened at $145.95 on Tuesday. EOG Resources, Inc. has a 52-week low of $101.59 and a 52-week high of $151.87. The company has a market capitalization of $76.56 billion, a P/E ratio of 11.36 and a beta of 0.25. The company has a 50-day simple moving average of $137.69 and a 200 day simple moving average of $134.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. Sell-side analysts forecast that EOG Resources, Inc. will post 16.43 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s payout ratio is currently 31.75%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on EOG Resources from $148.00 to $142.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. DA Davidson boosted their price target on EOG Resources from $148.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EOG Resources in a research note on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. Finally, Susquehanna reissued a “positive” rating and issued a $170.00 target price (up from $166.00) on shares of EOG Resources in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and a consensus price target of $156.00.

About EOG Resources

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.