Arnhold LLC Makes New Investment in EOG Resources, Inc. $EOG

Key Points

• Arnhold LLC acquired a new position in EOG Resources, purchasing 26,474 shares valued at approximately $3.17 million during the second quarter.
• Recent analyst ratings show a mixed outlook for EOG Resources, with target price adjustments ranging from $127.00 to $170.00 and an average rating of "Hold."
• EOG Resources reported earnings of $2.32 per share for the last quarter, exceeding estimates, but faced a 9.1% decline in year-over-year revenue.

Arnhold LLC bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 26,474 shares of the energy exploration company's stock, valued at approximately $3,167,000.

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources during the first quarter valued at approximately $26,000. Saudi Central Bank bought a new position in shares of EOG Resources during the first quarter valued at approximately $28,000. Raleigh Capital Management Inc. bought a new position in shares of EOG Resources during the second quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the first quarter valued at approximately $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of EOG Resources in the first quarter valued at approximately $36,000. Institutional investors own 89.91% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EOG shares. Morgan Stanley decreased their target price on EOG Resources from $141.00 to $136.00 and set an "equal weight" rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their target price on EOG Resources from $149.00 to $127.00 and set an "overweight" rating for the company in a report on Friday. Susquehanna upped their target price on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. KeyCorp lowered their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of EOG Resources in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $142.43.

EOG Resources Stock Down 1.0%

EOG Resources stock opened at $106.13 on Friday. The business has a fifty day moving average of $116.58 and a two-hundred day moving average of $116.04. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The firm has a market cap of $57.95 billion, a P/E ratio of 10.31, a P/E/G ratio of 8.30 and a beta of 0.74. 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 posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during 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 business earned $3.16 earnings per share. On average, analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources 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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