Alliancebernstein L.P. Raises Stock Position in EOG Resources, Inc. $EOG

Key Points

• Alliancebernstein L.P. increased its stake in EOG Resources, Inc. by 3.9%, acquiring an additional 223,294 shares, bringing their total ownership to 5,909,297 shares, valued at approximately $757.8 million.
• Analysts recently adjusted their price targets for EOG, with the consensus rating being a "Moderate Buy" and an average target price of $143.61.
• EOG Resources reported second-quarter earnings of $2.32 per share, exceeding estimates and experiencing a revenue decline of 9.1% year-over-year.

Alliancebernstein L.P. boosted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,909,297 shares of the energy exploration company's stock after acquiring an additional 223,294 shares during the period. Alliancebernstein L.P. owned 1.08% of EOG Resources worth $757,808,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EOG. Nuveen LLC acquired a new position in EOG Resources in the 1st quarter valued at about $451,908,000. GAMMA Investing LLC increased its position in EOG Resources by 14,784.1% in the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after acquiring an additional 1,272,765 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 acquiring an additional 1,188,552 shares during the period. Deutsche Bank AG increased its position in EOG Resources by 58.6% in the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock valued at $255,139,000 after acquiring an additional 769,362 shares during the period. Finally, LSV Asset Management increased its position in EOG Resources by 290.5% in the 1st quarter. LSV Asset Management now owns 687,446 shares of the energy exploration company's stock valued at $88,158,000 after acquiring an additional 511,418 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Price Performance

EOG stock traded down $0.86 on Monday, reaching $117.07. The company had a trading volume of 947,197 shares, compared to its average volume of 3,519,113. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year 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's fifty day moving average is $120.18 and its 200 day moving average is $118.47. The company has a market cap of $63.92 billion, a P/E ratio of 11.38, a PEG ratio of 9.03 and a beta of 0.85.

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

Analysts Set New Price Targets

EOG has been the topic of a number of analyst reports. KeyCorp lowered their price objective on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Royal Bank Of Canada lowered their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. UBS Group lifted their price objective on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Finally, Piper Sandler lowered their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $143.52.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company's stock.

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.