Associated Banc Corp Buys 43,045 Shares of EOG Resources, Inc. $EOG

Key Points

• Associated Banc Corp initiated a position in EOG Resources, buying 43,045 shares worth approximately $5.93 million in the third quarter.
• EOG insiders sold 52,317 shares worth about $7.82 million over the past 90 days; CEO Ezra Yacob and COO Jeffrey Leitzell were among the sellers.
• Analysts’ consensus rating is Hold, with a $161.24 average price target. EOG’s latest reported quarterly results beat estimates, with revenue up 57.4% year over year.

Associated Banc Corp purchased a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 43,045 shares of the energy exploration company's stock, valued at approximately $5,930,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EOG. Byrne Asset Management LLC grew its holdings in shares of EOG Resources by 469.4% during the 3rd quarter. Byrne Asset Management LLC now owns 205 shares of the energy exploration company's stock valued at $29,000 after purchasing an additional 169 shares during the last quarter. Wedbush Fund Advisers LLC bought a new position in EOG Resources in the 2nd quarter valued at approximately $31,000. Global Assets Advisory LLC bought a new position in EOG Resources in the 1st quarter valued at approximately $37,000. Main Street Group LTD bought a new position in EOG Resources in the 1st quarter valued at approximately $38,000. Finally, Valued Wealth Advisors LLC boosted its position in EOG Resources by 240.0% in the first quarter. Valued Wealth Advisors LLC now owns 272 shares of the energy exploration company's stock valued at $39,000 after buying an additional 192 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Insider Transactions at EOG Resources

In related news, CEO Ezra Yacob sold 35,942 shares of EOG Resources stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey Leitzell sold 9,039 shares of the company's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $140.61, for a total value of $1,270,973.79. Following the completion of the sale, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,317 shares of company stock worth $7,823,480 over the last ninety days. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup reaffirmed a "neutral" rating and set a $150.00 target price (up from $141.00) on shares of EOG Resources in a research note on Thursday, August 27th. Freedom Capital downgraded shares of EOG Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Barclays set a $147.00 price target on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, August 17th. Stifel Nicolaus began coverage on EOG Resources in a report on Thursday, September 10th. They set a "hold" rating and a $158.00 price objective on the stock. Finally, Wall Street Zen upgraded EOG Resources from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.24.

EOG Resources Stock Performance

Shares of EOG Resources stock opened at $154.95 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $165.93. The stock has a market cap of $81.28 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.56 and a beta of 0.27. The company's fifty day moving average is $149.25 and its 200 day moving average is $137.23.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the previous year, the business earned $2.32 EPS. The business's quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that EOG Resources, Inc. will post 17.70 EPS for the current year.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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