Franklin Resources Inc. Buys 1,257,110 Shares of EOG Resources, Inc. $EOG

Franklin Resources Inc. grew its position in shares of EOG Resources, Inc. (NYSE:EOG) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,443,453 shares of the energy exploration company’s stock after purchasing an additional 1,257,110 shares during the period. Franklin Resources Inc. owned approximately 1.19% of EOG Resources worth $676,627,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in EOG Resources by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 4,669,969 shares of the energy exploration company’s stock valued at $490,394,000 after buying an additional 901,897 shares during the last quarter. Capital World Investors increased its stake in EOG Resources by 1.4% in the 3rd quarter. Capital World Investors now owns 54,907,949 shares of the energy exploration company’s stock worth $6,156,495,000 after acquiring an additional 782,426 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of EOG Resources during the 3rd quarter worth approximately $87,193,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of EOG Resources by 2,410.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 719,426 shares of the energy exploration company’s stock valued at $75,547,000 after acquiring an additional 690,765 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of EOG Resources by 288.1% during the 3rd quarter. TD Asset Management Inc now owns 892,482 shares of the energy exploration company’s stock valued at $100,065,000 after acquiring an additional 662,539 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Up 1.8%

Shares of NYSE EOG opened at $140.20 on Tuesday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $151.87. The firm has a 50-day simple moving average of $137.72 and a two-hundred day simple moving average of $123.12. The company has a market cap of $74.67 billion, a P/E ratio of 13.80 and a beta of 0.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.72 and a quick ratio of 1.53.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 19.25% and a net margin of 23.01%.The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the prior year, the business posted $2.87 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Research analysts anticipate that EOG Resources, Inc. will post 16.63 earnings per share for the current year.

EOG Resources Dividend Announcement

The firm also recently announced 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. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, July 17th. EOG Resources’s dividend payout ratio (DPR) is 40.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho set a $157.00 price target on shares of EOG Resources and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. DA Davidson upped their target price on shares of EOG Resources from $148.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wolfe Research increased their price target on shares of EOG Resources from $152.00 to $154.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Sanford C. Bernstein reduced their price objective on EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 20th. Finally, Scotiabank raised their price objective on EOG Resources from $123.00 to $139.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.32.

Insiders Place Their Bets

In related news, CFO Ann D. Janssen sold 4,161 shares of EOG Resources stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $140.04, for a total transaction of $582,706.44. Following the completion of the sale, the chief financial officer owned 100,246 shares in the company, valued at $14,038,449.84. This trade represents a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 5,698 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $150.32, for a total transaction of $856,523.36. Following the completion of the sale, the chief operating officer directly owned 88,045 shares of the company’s stock, valued at approximately $13,234,924.40. This trade represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,456 shares of company stock valued at $1,788,033 over the last three months. Insiders own 0.14% of the company’s stock.

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.