Canada Pension Plan Investment Board Purchases 45,295 Shares of EOG Resources, Inc. $EOG

Key Points

• The Canada Pension Plan Investment Board increased its holdings in EOG Resources, Inc. by 30.1% in the first quarter, totaling $25.11 million.
• Several institutional investors also significantly altered their positions, with Nuveen LLC acquiring approximately $451.9 million in EOG shares, reflecting a trend of increasing institutional interest.
• EOG Resources reported an earnings per share (EPS) of $2.32 for the last quarter, surpassing analysts' expectations and contributing to a current average stock rating of "Moderate Buy."

Canada Pension Plan Investment Board grew its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 30.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 195,782 shares of the energy exploration company's stock after acquiring an additional 45,295 shares during the quarter. Canada Pension Plan Investment Board's holdings in EOG Resources were worth $25,107,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Granite Harbor Advisors Inc. raised its stake in EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after acquiring an additional 94 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in shares of EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after buying an additional 95 shares during the period. Sigma Planning Corp increased its stake in shares of EOG Resources by 1.6% in the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after buying an additional 97 shares during the period. Bank of Jackson Hole Trust increased its stake in shares of EOG Resources by 1.6% in the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after buying an additional 100 shares during the period. Finally, Malaga Cove Capital LLC increased its stake in shares of EOG Resources by 2.9% in the first quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock valued at $449,000 after buying an additional 100 shares during the period. Institutional investors own 89.91% of the company's stock.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company's stock.

EOG Resources Trading Down 3.1%

Shares of EOG Resources stock traded down $3.71 on Friday, reaching $117.89. 3,710,285 shares of the company's stock were exchanged, compared to its average volume of 3,527,656. The company has a market capitalization of $64.37 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 9.23 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 firm's 50-day moving average is $120.24 and its two-hundred day moving average is $118.79. 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 quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The firm had revenue of $5.48 billion for 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 company's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 EPS. Sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on EOG. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Argus lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Barclays lifted their price target on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Bank of America cut their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and an average price target of $143.52.

About EOG Resources

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.