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Assenagon Asset Management S.A. increased its position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 28.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 304,917 shares of the energy exploration company’s stock after buying an additional 68,136 shares during the period. Assenagon Asset Management S.A.’s holdings in EOG Resources were worth $36,471,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOG. Bank Pictet & Cie Europe AG increased its stake in EOG Resources by 56.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company’s stock worth $30,449,000 after buying an additional 89,521 shares during the period. Waverly Advisors LLC purchased a new stake in EOG Resources during the 4th quarter worth $399,000. Forum Financial Management LP increased its position in shares of EOG Resources by 2.9% in the 4th quarter. Forum Financial Management LP now owns 8,080 shares of the energy exploration company’s stock worth $990,000 after purchasing an additional 227 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of EOG Resources by 92.7% in the 4th quarter. Mackenzie Financial Corp now owns 173,218 shares of the energy exploration company’s stock worth $21,233,000 after purchasing an additional 83,316 shares during the last quarter. Finally, Ascent Group LLC increased its position in shares of EOG Resources by 5.5% in the 4th quarter. Ascent Group LLC now owns 17,693 shares of the energy exploration company’s stock worth $2,169,000 after purchasing an additional 924 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.
EOG Resources Trading Down 2.2%
Shares of NYSE:EOG opened at $115.74 on Monday. The company has a 50 day moving average of $119.43 and a 200-day moving average of $117.86. The firm has a market cap of $63.19 billion, a P/E ratio of 11.25, a P/E/G ratio of 8.92 and a beta of 0.85. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.
EOG Resources (NYSE:EOG – Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 EPS. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.
Insider Activity at EOG Resources
In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by insiders.
Analysts Set New Price Targets
EOG has been the subject of several research analyst reports. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Mizuho dropped their target price on shares of EOG Resources from $140.00 to $133.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Melius assumed coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price target for the company. Finally, Melius Research assumed coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.48.
Read Our Latest Stock Report on EOG
EOG Resources Company Profile
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.
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