Penobscot Investment Management Company Inc. acquired a new stake in EOG Resources, Inc. (NYSE:EOG – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,305 shares of the energy exploration company’s stock, valued at approximately $264,000.
Several other hedge funds also recently added to or reduced their stakes in EOG. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of EOG Resources by 100,317.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 538,528,863 shares of the energy exploration company’s stock valued at $61,629,243,000 after purchasing an additional 537,992,573 shares during the last quarter. State Street Corp boosted its stake in EOG Resources by 2.8% during the first quarter. State Street Corp now owns 36,299,584 shares of the energy exploration company’s stock worth $4,161,014,000 after buying an additional 1,005,328 shares during the period. Wellington Management Group LLP increased its position in shares of EOG Resources by 12.4% during the first quarter. Wellington Management Group LLP now owns 26,897,413 shares of the energy exploration company’s stock valued at $3,083,250,000 after acquiring an additional 2,977,408 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of EOG Resources by 4.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,791,379 shares of the energy exploration company’s stock valued at $1,463,845,000 after acquiring an additional 551,835 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of EOG Resources by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 11,814,421 shares of the energy exploration company’s stock worth $1,352,283,000 after acquiring an additional 262,445 shares during the last quarter. 89.21% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on EOG shares. JPMorgan Chase & Co. lifted their target price on shares of EOG Resources from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, September 27th. Stifel Nicolaus increased their target price on EOG Resources from $143.00 to $159.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Tudor, Pickering, Holt & Co. lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Bank of America raised their price objective on shares of EOG Resources from $143.00 to $147.00 in a research note on Wednesday, September 27th. Finally, Morgan Stanley increased their target price on shares of EOG Resources from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.73.
EOG Resources Trading Down 1.6 %
Shares of EOG Resources stock opened at $123.07 on Thursday. The company has a fifty day simple moving average of $127.73 and a 200-day simple moving average of $122.26. EOG Resources, Inc. has a 12-month low of $98.52 and a 12-month high of $146.85. The company has a current ratio of 2.43, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $71.77 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.36 and a beta of 1.51.
EOG Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from EOG Resources’s previous quarterly dividend of $0.83. EOG Resources’s payout ratio is 24.52%.
EOG Resources Company Profile
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. The company was formerly known as Enron Oil & Gas Company.
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