PNC Financial Services Group Inc. Has $28.98 Million Stock Position in EOG Resources, Inc. $EOG

PNC Financial Services Group Inc. grew its stake in EOG Resources, Inc. (NYSE:EOG) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,463 shares of the energy exploration company’s stock after purchasing an additional 9,334 shares during the period. PNC Financial Services Group Inc.’s holdings in EOG Resources were worth $28,981,000 as of its most recent filing with the Securities and Exchange Commission.

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

EOG Resources Stock Performance

Shares of EOG stock opened at $146.62 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53. The stock has a market cap of $78.09 billion, a PE ratio of 14.43 and a beta of 0.25. The stock has a 50-day moving average of $136.76 and a 200-day moving average of $129.90. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.18. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. EOG Resources’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the company posted $2.87 EPS. As a group, sell-side analysts expect that EOG Resources, Inc. will post 16.19 earnings per share for the current year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. EOG Resources’s dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of research analyst reports. Williams Trading set a $177.00 target price on shares of EOG Resources in a research note on Monday, April 20th. Royal Bank Of Canada raised their price target on shares of EOG Resources from $138.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Wall Street Zen upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. DA Davidson lifted their target price on EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays upped their target price on shares of EOG Resources from $140.00 to $153.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.32.

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.