Aberdeen Group plc Increases Stock Position in EOG Resources, Inc. $EOG

Key Points

• Aberdeen Group plc has increased its stake in EOG Resources by 11.3% in the second quarter, owning a total of 361,628 shares valued at approximately $43.25 million.
• EOG Resources recently reported an earnings per share of $2.32, surpassing analysts' expectations of $2.14, despite a 9.1% decline in revenue compared to the previous year.
• The stock has seen support from multiple hedge funds, with about 89.91% of shares owned by institutional investors, reflecting strong market confidence in EOG.

Aberdeen Group plc increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 361,628 shares of the energy exploration company's stock after acquiring an additional 36,802 shares during the period. Aberdeen Group plc owned about 0.07% of EOG Resources worth $43,254,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ARGA Investment Management LP raised its stake in EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after buying an additional 2,616 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock valued at $25,107,000 after buying an additional 45,295 shares during the last quarter. CWA Asset Management Group LLC raised its stake in EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after buying an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after buying an additional 44,687 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its stake in EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after buying an additional 8,127 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Trading Down 3.4%

Shares of EOG Resources stock opened at $108.14 on Monday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The company has a market capitalization of $59.04 billion, a P/E ratio of 10.51, a P/E/G ratio of 8.36 and a beta of 0.74. The company has a fifty day moving average of $117.43 and a 200 day moving average of $116.57.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EOG shares. Wolfe Research decreased their target price on shares of EOG Resources from $139.00 to $138.00 and set an "outperform" rating for the company in a research note on Wednesday, October 1st. KeyCorp decreased their target price on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Susquehanna boosted their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Mizuho decreased 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 note on Monday, September 15th. Finally, Raymond James Financial boosted their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, EOG Resources has an average rating of "Hold" and a consensus price target of $143.30.

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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