Assenagon Asset Management S.A. Purchases 68,136 Shares of EOG Resources, Inc. $EOG

Key Points

• Assenagon Asset Management raised its stake in EOG Resources by 28.8%, holding 304,917 shares valued at approximately $36.5 million after acquiring an additional 68,136 shares in the second quarter.
• Multiple hedge funds have also increased their positions in EOG Resources, with notable increases including Wealth Enhancement Advisory Services' 37.9% rise and Canada Pension Plan Investment Board's 30.1% increase.
• EOG Resources reported earnings of $2.32 per share, surpassing analysts' expectations, though its revenue for the quarter was down 9.1% year-over-year at $5.48 billion.

Assenagon Asset Management S.A. boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 28.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 304,917 shares of the energy exploration company's stock after buying an additional 68,136 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of EOG Resources worth $36,471,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. IFM Investors Pty Ltd increased its position in shares of EOG Resources by 2.1% during the second quarter. IFM Investors Pty Ltd now owns 115,513 shares of the energy exploration company's stock valued at $13,817,000 after purchasing an additional 2,382 shares during the period. Moody National Bank Trust Division increased its position in shares of EOG Resources by 4.0% during the second quarter. Moody National Bank Trust Division now owns 11,624 shares of the energy exploration company's stock valued at $1,390,000 after purchasing an additional 443 shares during the period. Global Financial Private Client LLC increased its position in shares of EOG Resources by 3.1% during the second quarter. Global Financial Private Client LLC now owns 6,813 shares of the energy exploration company's stock valued at $815,000 after purchasing an additional 208 shares during the period. Rockland Trust Co. increased its position in shares of EOG Resources by 4.2% during the second quarter. Rockland Trust Co. now owns 234,361 shares of the energy exploration company's stock valued at $28,032,000 after purchasing an additional 9,473 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of EOG Resources by 34.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 218,275 shares of the energy exploration company's stock valued at $26,881,000 after purchasing an additional 55,672 shares during the period. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Down 0.4%

NYSE EOG traded down $0.48 on Monday, reaching $115.52. The company had a trading volume of 2,929,465 shares, compared to its average volume of 2,510,927. The stock has a market cap of $63.07 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 8.92 and a beta of 0.85. 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 stock's 50 day moving average is $119.43 and its 200-day moving average is $117.86. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week 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 EPS for the quarter, topping 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 analyst estimates of $5.45 billion. During the same quarter last year, the firm posted $3.16 earnings per share. EOG Resources's revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources 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 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 can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EOG. Raymond James Financial upped their price target on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada lowered their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. UBS Group upped their price target on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Morgan Stanley set a $135.00 price target on EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Finally, KeyCorp reduced their price objective on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. One 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.48.

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.