Allen Mooney & Barnes Investment Advisors LLC Takes Position in EOG Resources, Inc. $EOG

Key Points

• Allen Mooney & Barnes Investment Advisors LLC acquired 61,877 shares of EOG Resources, valued at approximately $7.4 million, representing about 1.2% of their portfolio.
• Institutional investors own 89.91% of EOG Resources stock, with several firms increasing their holdings significantly during the second quarter, including Teamwork Financial Advisors, which raised its stake by 238.8%.
• Analyst ratings for EOG Resources vary, with most giving it a Moderate Buy average rating, while price targets range from $124 to $161.

Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 61,877 shares of the energy exploration company's stock, valued at approximately $7,401,000. EOG Resources makes up about 1.2% of Allen Mooney & Barnes Investment Advisors LLC's portfolio, making the stock its 29th largest position.

Several other large investors also recently modified their holdings of the business. Gallacher Capital Management LLC grew its stake in shares of EOG Resources by 28.2% during the second quarter. Gallacher Capital Management LLC now owns 7,016 shares of the energy exploration company's stock valued at $839,000 after acquiring an additional 1,543 shares in the last quarter. Teamwork Financial Advisors LLC increased its holdings in EOG Resources by 238.8% in the second quarter. Teamwork Financial Advisors LLC now owns 13,295 shares of the energy exploration company's stock valued at $1,590,000 after buying an additional 9,371 shares during the last quarter. Capital Asset Advisory Services LLC increased its holdings in EOG Resources by 2.7% in the second quarter. Capital Asset Advisory Services LLC now owns 16,148 shares of the energy exploration company's stock valued at $1,957,000 after buying an additional 431 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in EOG Resources by 7.4% in the second quarter. Wesbanco Bank Inc. now owns 117,035 shares of the energy exploration company's stock valued at $13,999,000 after buying an additional 8,048 shares during the last quarter. Finally, First Citizens Financial Corp bought a new stake in EOG Resources in the second quarter valued at about $234,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Barclays boosted their price objective on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, June 2nd. Bank of America lowered their price objective on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Raymond James Financial lifted their target price on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley set a $135.00 target price on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, EOG Resources has an average rating of "Moderate Buy" and a consensus price target of $143.52.

Insider Buying and Selling

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 stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares of the company's stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

EOG Resources Stock Performance

EOG opened at $118.20 on Monday. The business's 50 day moving average is $119.80 and its 200-day moving average is $118.02. The stock has a market cap of $64.54 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 9.05 and a beta of 0.85. 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, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating 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 company had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

About EOG Resources

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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