Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in EOG Resources, Inc. $EOG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,295,221 shares of the energy exploration company’s stock, valued at approximately $168,029,000.

Other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC purchased a new stake in EOG Resources in the 2nd quarter worth $1,489,000. Plato Investment Management Ltd purchased a new position in EOG Resources during the second quarter valued at $1,844,000. AMG National Trust Bank purchased a new position in EOG Resources during the second quarter valued at $920,000. Simplicity Wealth LLC acquired a new stake in shares of EOG Resources in the second quarter valued at about $664,000. Finally, Baxter Bros Inc. purchased a new stake in shares of EOG Resources during the second quarter worth about $389,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Up 2.3%

Shares of NYSE EOG opened at $145.95 on Tuesday. 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 market capitalization of $76.56 billion, a P/E ratio of 11.36 and a beta of 0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 earnings per share. On average, equities research analysts predict that EOG Resources, Inc. will post 16.43 earnings per share for the current year.

EOG Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank upped their price target on shares of EOG Resources from $123.00 to $139.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group reduced their target price on EOG Resources from $139.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Morgan Stanley lowered their price target on EOG Resources from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. 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 research note on Thursday, July 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $183.00 target price on shares of EOG Resources in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.