BlackRock Trims EOG Resources Stake to 6.2%

TL;DR

**BlackRock cut its EOG stake to 6.2%, watch for market reaction.**

AI Summary

BlackRock Inc. filed an amended Schedule 13G/A on January 26, 2024, indicating a change in its ownership of EOG Resources Inc. common stock as of December 31, 2023. BlackRock now beneficially owns 36,070,302 shares, representing 6.2% of EOG Resources' outstanding common stock. This is a decrease from their previous reported ownership, signaling a slight reduction in their stake in the oil and natural gas company. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can influence market sentiment and potentially signal their outlook on the company's future performance.

Why It Matters

This filing shows that a major institutional investor, BlackRock, has slightly reduced its ownership in EOG Resources, which could be interpreted by the market as a minor shift in their investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like BlackRock typically poses a low risk to the company's overall stability or stock price.

Analyst Insight

A smart investor would note BlackRock's slight reduction in EOG Resources shares, but recognize that a 6.2% stake is still substantial. This change alone isn't a strong buy/sell signal, but rather a data point to consider alongside EOG's fundamentals and broader market trends. It warrants monitoring future institutional filings for a clearer trend.

Key Numbers

• 36,070,302 — Shares Beneficially Owned (This is the total number of EOG Resources shares BlackRock Inc. reported owning as of December 31, 2023.)
• 6.2% — Percentage of Class (This represents BlackRock Inc.'s ownership stake in EOG Resources Inc.'s common stock, indicating a slight decrease from previous filings.)
• December 31, 2023 — Reporting Date (This is the specific date for which BlackRock's ownership position in EOG Resources is being reported in the filing.)

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• EOG Resources Inc. (company) — the subject company whose stock is being reported
• 36,070,302 (dollar_amount) — number of shares beneficially owned by BlackRock
• 6.2% (dollar_amount) — percentage of EOG Resources' common stock owned by BlackRock
• December 31, 2023 (date) — the date of the event requiring the filing
• January 26, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• EOG Resources' stock price will experience minor volatility due to BlackRock's reduced stake. (EOG Resources Inc.) — low confidence, target: February 26, 2024
• Other institutional investors may re-evaluate their positions in EOG Resources following BlackRock's adjustment. (EOG Resources Inc.) — medium confidence, target: March 31, 2024

FAQ

From the Filing

0001086364-24-004659.txt : 20240126 0001086364-24-004659.hdr.sgml : 20240126 20240126162353 ACCESSION NUMBER: 0001086364-24-004659 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EOG RESOURCES INC CENTRAL INDEX KEY: 0000821189 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 470684736 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40827 FILM NUMBER: 24568241 BUSINESS ADDRESS: STREET 1: 1111 BAGBY, SKY LOBBY 2 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7136517000 MAIL ADDRESS: STREET 1: 1111 BAGBY, SKY LOBBY 2 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: ENRON OIL & GAS CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us26875p1012_012624.txt us26875p1012_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 14) EOG RESOURCES INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 26875P101 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 26875P101 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 37229599 (6) Shared voting power 0 (7) Sole dispositive power 40956544 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 40956544 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.0% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- EOG RESOURCES INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 1111 BAGBY, SKY LOBBY 2 HOUSTON TX 77002 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) A