50,559 EOG Resources, Inc. $EOG Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its EOG Resources stake by 70.3% in the third quarter, selling 50,559 shares and retaining 21,326 shares valued at $2.94 million.
• Analyst views were mixed, with a consensus rating of Hold and an average price target of $161.24; ratings included two Strong Buys, nine Buys, and 17 Holds.
• EOG beat quarterly earnings and revenue estimates, reporting $5.07 per share and $8.62 billion in revenue. Revenue rose 57.4% year over year.

AIA Group Ltd decreased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 70.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,326 shares of the energy exploration company's stock after selling 50,559 shares during the quarter. AIA Group Ltd's holdings in EOG Resources were worth $2,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in EOG Resources during the 2nd quarter valued at $5,905,587,000. Bank of New York Mellon Corp purchased a new stake in shares of EOG Resources during the second quarter worth $654,899,000. Bank of America Corp DE purchased a new stake in shares of EOG Resources during the second quarter worth $551,321,000. Deutsche Bank AG acquired a new stake in EOG Resources during the second quarter valued at $251,102,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in EOG Resources by 357.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company's stock valued at $271,641,000 after purchasing an additional 1,541,140 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the topic of a number of research reports. Zacks Research upgraded EOG Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, October 16th. Citigroup restated a "neutral" rating and set a $150.00 price target (up from $141.00) on shares of EOG Resources in a report on Thursday, August 27th. Truist Financial boosted their price target on EOG Resources from $153.00 to $160.00 and gave the stock a "hold" rating in a research report on Friday, October 2nd. Raymond James Financial reissued a "strong-buy" rating and issued a $186.00 price target (up from $183.00) on shares of EOG Resources in a research report on Thursday, September 17th. Finally, Scotiabank started coverage on shares of EOG Resources in a report on Wednesday, October 14th. They issued a "sector perform" rating and a $144.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, EOG Resources has an average rating of "Hold" and a consensus target price of $161.24.

EOG Resources Trading Down 5.1%

Shares of EOG opened at $147.25 on Thursday. EOG Resources, Inc. has a 1 year low of $101.59 and a 1 year high of $165.93. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $149.25 and a 200-day simple moving average of $137.42. The stock has a market cap of $77.24 billion, a PE ratio of 11.46, a PEG ratio of 0.55 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate 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 net margin of 25.44% and a return on equity of 23.44%. The company's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.32 earnings per share. On average, sell-side analysts predict that EOG Resources, Inc. will post 17.70 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the sale, the executive vice president directly owned 100,558 shares of the company's stock, valued at $14,882,584. This represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,317 shares of company stock valued at $7,823,480 in the last 90 days. 0.14% of the stock is owned by insiders.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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