Baird Financial Group Inc. Increases Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Baird Financial Group Inc. increased its holdings in EOG Resources by 7.8%, acquiring an additional 44,446 shares during the first quarter, bringing its total ownership to 613,718 shares valued at approximately $78.7 million.
• EOG Resources' most recent earnings report showed earnings per share of $2.32, surpassing estimates, though revenue declined by 9.1% year-over-year to $5.48 billion.
• Analysts have mixed ratings on EOG Resources, with a consensus rating of "Moderate Buy" and an average price target of $143.61.

Baird Financial Group Inc. lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 613,718 shares of the energy exploration company's stock after purchasing an additional 44,446 shares during the quarter. Baird Financial Group Inc. owned 0.11% of EOG Resources worth $78,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EOG. Vanguard Group Inc. raised its position in shares of EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after buying an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of EOG Resources by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after purchasing an additional 1,188,552 shares during the last quarter. Northern Trust Corp increased its position in EOG Resources by 6.3% in the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after acquiring an additional 358,916 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of EOG Resources by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock worth $629,789,000 after acquiring an additional 36,777 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EOG. Melius Research began coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Barclays boosted their target price on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Raymond James Financial raised their price objective on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. KeyCorp cut their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Melius initiated coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, EOG Resources has a consensus rating of "Moderate Buy" and a consensus price target of $143.52.

EOG Resources Price Performance

Shares of EOG traded up $1.04 during midday trading on Thursday, reaching $121.62. The stock had a trading volume of 924,967 shares, compared to its average volume of 3,528,851. 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 company's 50-day moving average is $120.23 and its 200 day moving average is $118.84. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 9.56 and a beta of 0.85.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data 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. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period in the previous year, the business posted $3.16 EPS. The business's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm'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 transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

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.