CTC Alternative Strategies Ltd. Buys New Shares in EOG Resources, Inc. $EOG

Key Points

• CTC Alternative Strategies Ltd. purchased 4,700 shares of EOG Resources, Inc. in the first quarter, valued at approximately $603,000, as reported in their Form 13F filing with the SEC.
• Over 89.91% of EOG Resources' stock is owned by institutional investors, with notable increases in positions from firms like Nuveen LLC and LSV Asset Management.
• Recent analyst ratings for EOG Resources show a consensus of "Moderate Buy" with a price target of $143.52, amid recent fluctuations in target prices from various research firms.

CTC Alternative Strategies Ltd. bought a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,700 shares of the energy exploration company's stock, valued at approximately $603,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EOG. Nuveen LLC bought a new position in shares of EOG Resources in the first quarter valued at $451,908,000. GAMMA Investing LLC boosted its position in EOG Resources by 14,784.1% during the first quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock worth $164,323,000 after purchasing an additional 1,272,765 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 period. Jacobs Levy Equity Management Inc. bought a new position in EOG Resources during the first quarter worth $81,752,000. Finally, LSV Asset Management boosted its position in EOG Resources by 290.5% during the first quarter. LSV Asset Management now owns 687,446 shares of the energy exploration company's stock worth $88,158,000 after purchasing an additional 511,418 shares during the period. 89.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EOG shares. Bank of America dropped their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Melius started coverage on EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price for the company. Roth Capital downgraded EOG Resources from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. Morgan Stanley set a $135.00 price target on EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Finally, Mizuho dropped their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.52.

EOG Resources Stock Performance

Shares of EOG stock opened at $117.89 on Monday. The company has a market cap of $64.37 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 9.03 and a beta of 0.85. The stock has a 50 day simple moving average of $120.18 and a 200-day simple moving average of $118.47. 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.

EOG Resources (NYSE:EOG - Get Free Report) last issued its 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 business had revenue of $5.48 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 EPS. On average, equities analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current 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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