Adams Natural Resources Fund Inc. Decreases Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Adams Natural Resources Fund Inc. has reduced its stake in EOG Resources, Inc. by 1.5% during the second quarter, selling 3,000 shares to hold a total of 199,067 shares valued at approximately $23.81 million.
• Institutional investors now own 89.91% of EOG Resources, with multiple hedge funds increasing their stakes, including Vanguard and Charles Schwab Investment Management.
• Despite recent earnings exceeding expectations, with an EPS of $2.32 compared to the estimated $2.14, EOG Resources has seen a 9.1% decline in quarterly revenue year-over-year.

Adams Natural Resources Fund Inc. lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 199,067 shares of the energy exploration company's stock after selling 3,000 shares during the quarter. EOG Resources makes up approximately 3.8% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 5th biggest holding. Adams Natural Resources Fund Inc.'s holdings in EOG Resources were worth $23,810,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in EOG Resources by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after acquiring an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares during the last quarter. Northern Trust Corp boosted its stake in shares of EOG Resources by 6.3% in the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after purchasing an additional 358,916 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of EOG Resources by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company's stock valued at $757,808,000 after purchasing an additional 223,294 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of EOG Resources by 1.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares during the last quarter. Institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG stock opened at $106.07 on Wednesday. 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 $57.91 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 8.16 and a beta of 0.74. The company's 50 day moving average price is $116.13 and its two-hundred day moving average price is $115.82. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the company posted $3.16 EPS. On average, analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Argus lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Royal Bank Of Canada raised their target price on shares of EOG Resources from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Scotiabank reaffirmed a "sector perform" rating and issued a $130.00 target price on shares of EOG Resources in a research note on Friday, September 26th. Melius Research initiated coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Finally, Morgan Stanley reduced their price objective on shares of EOG Resources from $141.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of "Hold" and a consensus price target of $140.76.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.