Callahan Advisors LLC Trims Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Callahan Advisors LLC significantly reduced its stake in EOG Resources, Inc. by 59.5% during the 2nd quarter, ending up with 27,528 shares valued at $3,293,000.
• Analysts have mixed views on EOG, with price targets ranging from $136.00 to $161.00, and an average rating of "Hold".
• The company's recent earnings report showed a profit of $2.32 per share, exceeding expectations, despite a 9.1% revenue decline year-over-year.

Callahan Advisors LLC reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 59.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,528 shares of the energy exploration company's stock after selling 40,475 shares during the period. Callahan Advisors LLC's holdings in EOG Resources were worth $3,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ARGA Investment Management LP raised its holdings in EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after buying an additional 2,616 shares during the period. Canada Pension Plan Investment Board grew its position in EOG Resources by 30.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock valued at $25,107,000 after acquiring an additional 45,295 shares in the last quarter. CWA Asset Management Group LLC grew its position in EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after acquiring an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in EOG Resources by 37.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after acquiring an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in EOG Resources by 4.7% in the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock valued at $23,032,000 after acquiring an additional 8,127 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on EOG shares. Piper Sandler dropped their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Royal Bank Of Canada lifted their target price on EOG Resources from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. KeyCorp dropped their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. Raymond James Financial lifted their target price 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. Finally, Barclays set a $136.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, EOG Resources has an average rating of "Hold" and a consensus target price of $143.35.

EOG Resources Stock Performance

Shares of EOG opened at $108.65 on Thursday. The stock has a 50-day simple moving average of $116.95 and a 200-day simple moving average of $116.35. The stock has a market capitalization of $59.32 billion, a PE ratio of 10.56, a PEG ratio of 8.48 and a beta of 0.74. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year 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 posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.16 earnings per share. On average, 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.

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