Ashton Thomas Private Wealth LLC Increases Stake in EOG Resources, Inc. $EOG

Key Points

• Ashton Thomas Private Wealth LLC has increased its stake in EOG Resources by 9.7%, now holding 57,364 shares worth approximately $7.36 million.
• EOG Resources reported earnings of $2.32 EPS, exceeding expectations of $2.14 and highlighted a net margin of 25.25%.
• Approximately 89.91% of EOG Resources' stock is owned by hedge funds and other institutional investors, indicating strong institutional interest in the company.

Ashton Thomas Private Wealth LLC grew its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,364 shares of the energy exploration company's stock after purchasing an additional 5,069 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in EOG Resources were worth $7,356,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EOG. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter valued at about $26,000. Saudi Central Bank acquired a new position in EOG Resources during the first quarter worth about $28,000. Alpine Bank Wealth Management acquired a new position in EOG Resources during the first quarter worth about $34,000. Ameriflex Group Inc. acquired a new position in EOG Resources during the fourth quarter worth about $36,000. Finally, WPG Advisers LLC acquired a new position in EOG Resources during the first quarter worth about $36,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EOG. Jefferies Financial Group restated a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Stephens began coverage on shares of EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price target on the stock. KeyCorp reduced their target price on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Piper Sandler reduced their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and a consensus target price of $143.52.

Insider Activity

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

EOG Resources Trading Down 1.5%

Shares of EOG Resources stock traded down $1.80 on Friday, reaching $118.20. The company had a trading volume of 1,967,189 shares, compared to its average volume of 2,275,035. The firm's 50 day moving average price is $119.80 and its two-hundred day moving average price is $118.10. The firm has a market cap of $64.54 billion, a PE ratio of 11.49, a PEG ratio of 9.19 and a beta of 0.85. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The business 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 revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 EPS. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 earnings per share 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.