Fifth Third Bancorp Buys 105,968 Shares of EOG Resources, Inc. $EOG

Fifth Third Bancorp grew its stake in EOG Resources, Inc. (NYSE:EOG) by 50.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,253 shares of the energy exploration company’s stock after buying an additional 105,968 shares during the period. Fifth Third Bancorp’s holdings in EOG Resources were worth $45,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EOG. Sivia Capital Partners LLC bought a new stake in shares of EOG Resources during the 2nd quarter worth $258,000. Quantbot Technologies LP bought a new position in EOG Resources in the second quarter valued at $349,000. Gamco Investors INC. ET AL raised its position in EOG Resources by 216.1% during the second quarter. Gamco Investors INC. ET AL now owns 6,560 shares of the energy exploration company’s stock valued at $785,000 after purchasing an additional 4,485 shares in the last quarter. NewEdge Advisors LLC raised its position in EOG Resources by 2.0% during the second quarter. NewEdge Advisors LLC now owns 22,780 shares of the energy exploration company’s stock valued at $2,725,000 after purchasing an additional 444 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in EOG Resources by 4.4% during the second quarter. Sei Investments Co. now owns 362,446 shares of the energy exploration company’s stock worth $43,356,000 after purchasing an additional 15,250 shares during the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Performance

NYSE EOG opened at $134.03 on Monday. The company has a 50-day simple moving average of $135.59 and a two-hundred day simple moving average of $127.50. The company has a quick ratio of 1.53, a current ratio of 1.72 and a debt-to-equity ratio of 0.26. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $151.87. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 13.19 and a beta of 0.25.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $2.87 earnings per share. On average, equities analysts forecast that EOG Resources, Inc. will post 16.19 EPS for the current year.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 40.16%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EOG. BMO Capital Markets upped their price objective on EOG Resources from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Capital One Financial dropped their target price on EOG Resources from $161.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 target price (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Finally, Truist Financial reduced their price target on shares of EOG Resources from $149.00 to $134.00 and set a “hold” rating on the stock in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.04.

EOG Resources Company 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.