Allspring Global Investments Holdings LLC Increases Stake in EOG Resources, Inc. $EOG

Key Points

• Allspring Global Investments Holdings LLC increased its stake in EOG Resources by 2.5%, owning approximately 2.715 million shares valued at $329.08 million as of the end of Q2.
• Equity research analysts have mixed views on EOG Resources, with ratings ranging from a "strong buy" to "neutral," and an average target price of $143.30.
• In its most recent earnings report, EOG Resources reported $2.32 EPS, surpassing estimates, but experienced a 9.1% decline in revenue year-over-year.

Allspring Global Investments Holdings LLC increased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,715,429 shares of the energy exploration company's stock after buying an additional 65,941 shares during the period. Allspring Global Investments Holdings LLC owned about 0.50% of EOG Resources worth $329,083,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in EOG Resources during the 1st quarter worth approximately $26,000. Saudi Central Bank purchased a new stake in shares of EOG Resources in the 1st quarter valued at approximately $28,000. Raleigh Capital Management Inc. purchased a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new stake in shares of EOG Resources in the 1st quarter valued at approximately $34,000. Finally, ORG Partners LLC increased its position in shares of EOG Resources by 45.1% in the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EOG shares. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Melius started coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Piper Sandler dropped their price objective on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Finally, Melius Research started coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, EOG Resources has an average rating of "Hold" and an average target price of $143.30.

EOG Resources Trading Down 3.4%

Shares of EOG Resources stock opened at $108.14 on Monday. The company has a fifty day simple moving average of $117.43 and a 200-day simple moving average of $116.57. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock has a market cap of $59.04 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 8.36 and a beta of 0.74.

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

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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