Geode Capital Management LLC Has $1.56 Billion Stake in EOG Resources, Inc. $EOG

Geode Capital Management LLC reduced its position in shares of EOG Resources, Inc. (NYSE:EOG) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,005,052 shares of the energy exploration company’s stock after selling 120,203 shares during the quarter. Geode Capital Management LLC’s holdings in EOG Resources were worth $1,556,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EOG. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of EOG Resources by 10,950.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 221 shares of the energy exploration company’s stock worth $26,000 after purchasing an additional 219 shares in the last quarter. Saudi Central Bank bought a new position in EOG Resources in the first quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new stake in EOG Resources in the 2nd quarter valued at $29,000. Finally, ORG Partners LLC lifted its position in EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after buying an additional 88 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank reiterated a “sector perform” rating and set a $130.00 target price on shares of EOG Resources in a report on Friday, September 26th. Siebert Williams Shank dropped their price objective on EOG Resources from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Piper Sandler set a $129.00 target price on shares of EOG Resources and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Evercore ISI boosted their target price on shares of EOG Resources from $141.00 to $149.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, UBS Group increased their price target on shares of EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.72.

EOG Resources Price Performance

EOG Resources stock opened at $108.68 on Thursday. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The stock’s 50 day moving average is $111.41 and its 200-day moving average is $115.50. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $59.34 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 8.20 and a beta of 0.72.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, November 6th. The energy exploration company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.89 EPS. Equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.8%. EOG Resources’s payout ratio is 40.64%.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.