Conning Inc. Increases Stock Position in EOG Resources, Inc. $EOG

Key Points

• Conning Inc. increased its ownership in EOG Resources by 7.3%, holding a total of 303,562 shares worth approximately $36.3 million, which makes it the 18th largest holding in their portfolio.
• Several institutional investors, including ARGA Investment Management LP and Canada Pension Plan Investment Board, have also significantly increased their stakes in EOG Resources, suggesting growing institutional interest in the company.
• EOG Resources reported $2.32 EPS for the last quarter, exceeding analysts' expectations, despite a 9.1% decline in revenue compared to the previous year.

Conning Inc. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 303,562 shares of the energy exploration company's stock after buying an additional 20,634 shares during the period. EOG Resources accounts for approximately 1.2% of Conning Inc.'s holdings, making the stock its 18th biggest holding. Conning Inc. owned approximately 0.06% of EOG Resources worth $36,309,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. ARGA Investment Management LP grew its stake in shares of EOG Resources by 24.2% during 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 boosted its position in EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock worth $25,107,000 after purchasing an additional 45,295 shares during the period. CWA Asset Management Group LLC boosted its position in EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its position in EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after purchasing an additional 8,127 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EOG. Susquehanna upped their price target on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of EOG Resources in a research report on Wednesday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Scotiabank reaffirmed a "sector perform" rating and set a $130.00 price target on shares of EOG Resources in a research report on Friday, September 26th. Finally, Argus lowered shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of "Hold" and an average price target of $143.43.

EOG Resources Stock Performance

Shares of EOG stock opened at $108.14 on Friday. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The firm has a market capitalization of $59.04 billion, a P/E ratio of 10.51, a P/E/G ratio of 8.65 and a beta of 0.74. The company's fifty day moving average price is $117.43 and its two-hundred day moving average price is $116.73.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 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 analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. 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 posted $3.16 EPS. On average, research analysts anticipate 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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