CX Institutional Sells 35,500 Shares of EOG Resources, Inc. $EOG

Key Points

• CX Institutional has significantly decreased its stake in EOG Resources, Inc. by 74.4%, holding only 12,194 shares after selling 35,500 shares in the second quarter.
• EOG Resources reported earnings of $2.32 per share in its latest quarterly release, exceeding analysts' expectations, despite a 9.1% decline in revenue compared to the previous year.
• Analysts have varying recommendations for EOG Resources, with a consensus rating of "Moderate Buy" and a price target averaging $143.48.

CX Institutional decreased its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 74.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,194 shares of the energy exploration company's stock after selling 35,500 shares during the period. CX Institutional's holdings in EOG Resources were worth $1,459,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. ARGA Investment Management LP raised its position 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 worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. CWA Asset Management Group LLC raised its position in shares of EOG Resources by 15.3% in the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of 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 purchasing an additional 44,687 shares in the last quarter. Canada Pension Plan Investment Board lifted 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 valued at $25,107,000 after acquiring an additional 45,295 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after buying an additional 8,127 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Down 2.2%

EOG stock traded down $2.58 during midday trading on Friday, reaching $115.74. The company had a trading volume of 6,830,296 shares, compared to its average volume of 2,510,927. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a market capitalization of $63.19 billion, a P/E ratio of 11.25, a PEG ratio of 8.92 and a beta of 0.85. The company has a 50 day moving average of $119.43 and a two-hundred day moving average of $117.86. 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 posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same period in the prior year, the firm posted $3.16 earnings per share. The company's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EOG shares. Royal Bank Of Canada reduced their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Melius began coverage on EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price on the stock. Piper Sandler decreased their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating and issued a $148.00 target price (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Finally, Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, EOG Resources has an average rating of "Moderate Buy" and an average price target of $143.48.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

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.