313,632 Shares in EOG Resources, Inc. $EOG Purchased by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. invested approximately $40.2 million in EOG Resources by acquiring 313,632 shares during the first quarter, representing 0.06% of the company's stock ownership.
• Analysts have set an average price target of $143.52 for EOG Resources, with ratings varying from "Strong Buy" to "Hold" across different firms.
• EOG Resources reported earnings of $2.32 per share for the last quarter, exceeding analyst expectations, despite a significant revenue decline of 9.1% year-over-year.

Clark Capital Management Group Inc. purchased a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 313,632 shares of the energy exploration company's stock, valued at approximately $40,220,000. Clark Capital Management Group Inc. owned approximately 0.06% of EOG Resources at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Granite Harbor Advisors Inc. boosted its stake in EOG Resources by 3.2% in the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after purchasing an additional 94 shares in the last quarter. FSM Wealth Advisors LLC boosted its stake in EOG Resources by 6.2% in the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares in the last quarter. Sigma Planning Corp boosted its stake in EOG Resources by 1.6% in the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after purchasing an additional 97 shares in the last quarter. Bank of Jackson Hole Trust boosted its stake in EOG Resources by 1.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after purchasing an additional 100 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in EOG Resources by 2.9% in the 1st quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock worth $449,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction 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 sale, the chief operating officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America lowered their target price on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Melius Research initiated coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price for the company. UBS Group increased their target price on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Stephens assumed coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 target price for the company. Finally, Susquehanna increased their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. One research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.52.

EOG Resources Trading Up 1.7%

EOG traded up $2.05 during trading on Wednesday, reaching $119.36. The company had a trading volume of 506,536 shares, compared to its average volume of 3,504,139. The stock has a market cap of $65.17 billion, a P/E ratio of 11.60, a PEG ratio of 9.01 and a beta of 0.85. The business has a 50 day simple moving average of $120.07 and a 200-day simple moving average of $118.35. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $5.45 billion. During the same period last year, the company earned $3.16 earnings per share. EOG Resources's revenue was down 9.1% on a year-over-year basis. On average, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

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.