abrdn plc Grows Stock Holdings in EOG Resources, Inc. (NYSE:EOG)

abrdn plc increased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,448 shares of the energy exploration company’s stock after buying an additional 98,287 shares during the period. abrdn plc owned about 0.05% of EOG Resources worth $36,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EOG. Qube Research & Technologies Ltd lifted its holdings in shares of EOG Resources by 863.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,100,068 shares of the energy exploration company’s stock valued at $139,445,000 after purchasing an additional 985,884 shares in the last quarter. Ameriprise Financial Inc. increased its position in EOG Resources by 8.4% during the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock worth $1,462,966,000 after purchasing an additional 892,951 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in EOG Resources during the third quarter worth approximately $71,596,000. Invesco Ltd. increased its position in EOG Resources by 15.2% during the third quarter. Invesco Ltd. now owns 3,495,485 shares of the energy exploration company’s stock worth $443,088,000 after purchasing an additional 460,872 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in EOG Resources by 38.4% during the third quarter. Envestnet Asset Management Inc. now owns 1,474,807 shares of the energy exploration company’s stock worth $186,946,000 after purchasing an additional 408,833 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EOG. Piper Sandler increased their price objective on shares of EOG Resources from $141.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday. KeyCorp increased their price objective on shares of EOG Resources from $147.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday. Barclays assumed coverage on shares of EOG Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective on the stock. Morgan Stanley increased their target price on shares of EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Truist Financial dropped their target price on shares of EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.33.

EOG Resources Stock Performance

NYSE:EOG opened at $133.90 on Tuesday. EOG Resources, Inc. has a twelve month low of $106.32 and a twelve month high of $139.67. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $123.87 and a 200-day moving average of $122.16. The firm has a market cap of $77.02 billion, a price-to-earnings ratio of 10.29 and a beta of 1.40.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter last year, the business posted $3.30 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts forecast that EOG Resources, Inc. will post 12.07 earnings per share for the current fiscal year.

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s payout ratio is 27.98%.

About EOG Resources

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.