CX Institutional Lowers Holdings in EOG Resources, Inc. $EOG

Key Points

• CX Institutional reduced its holdings in EOG Resources, Inc. by 74.4% during Q2, leaving them with 12,194 shares valued at approximately $1.46 million.
• Analysts have mixed opinions on EOG, with target prices ranging from $136.00 to $161.00 and a consensus rating of "Moderate Buy".
• EOG Resources reported $2.32 EPS for the latest quarter, exceeding estimates while experiencing a 9.1% revenue decline year-over-year.

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

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in EOG Resources during the first quarter worth approximately $26,000. Saudi Central Bank purchased a new position in shares of EOG Resources in the first quarter valued at approximately $28,000. Alpine Bank Wealth Management purchased a new position in shares of EOG Resources in the first quarter valued at approximately $34,000. WPG Advisers LLC purchased a new position in shares of EOG Resources in the first quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. purchased a new position in shares of EOG Resources in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EOG shares. Raymond James Financial raised their target price on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Royal Bank Of Canada cut their target price 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. KeyCorp cut their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Finally, Piper Sandler lowered their price target on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.48.

EOG Resources Stock Up 0.5%

Shares of NYSE EOG opened at $117.33 on Friday. The company has a market capitalization of $64.06 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 8.96 and a beta of 0.85. 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 business has a 50-day moving average of $119.13 and a two-hundred day moving average of $117.71. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced 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 company 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%.EOG Resources's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.16 EPS. On average, analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated 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 of the company's stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

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.

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