Eliot Finkel Investment Counsel LLC Invests $2.73 Million in EOG Resources, Inc. $EOG

Key Points

• Eliot Finkel Investment Counsel LLC has invested $2.73 million in EOG Resources, acquiring 22,845 shares, making EOG approximately 1.8% of its investment portfolio.
• Several institutional investors, including Canada Pension Plan Investment Board and Wealth Enhancement Advisory Services LLC, have increased their stakes in EOG Resources, with institutional ownership now at 89.91% of the company's stock.
• EOG Resources reported a Q2 earnings beat with $2.32 EPS, surpassing analysts' expectations of $2.14, although its revenue of $5.48 billion fell 9.1% year-over-year.

Eliot Finkel Investment Counsel LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,845 shares of the energy exploration company's stock, valued at approximately $2,732,000. EOG Resources comprises approximately 1.8% of Eliot Finkel Investment Counsel LLC's investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. ARGA Investment Management LP lifted its position in shares of EOG Resources by 24.2% during the first 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. Canada Pension Plan Investment Board raised its holdings in shares of EOG Resources by 30.1% in the first 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 in the last quarter. CWA Asset Management Group LLC raised its holdings 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 acquiring an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EOG Resources by 37.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after acquiring an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised 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 valued at $23,032,000 after acquiring an additional 8,127 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EOG has been the subject of several recent research reports. UBS Group lifted their price objective on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a research note on Wednesday. Melius initiated coverage on EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Scotiabank reiterated a "sector perform" rating and issued a $130.00 target price on shares of EOG Resources in a research note on Friday, September 26th. Finally, Argus lowered EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, EOG Resources currently has an average rating of "Hold" and an average target price of $143.14.

EOG Resources Price Performance

Shares of EOG stock opened at $110.66 on Friday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The firm has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 8.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock's 50-day simple moving average is $118.46 and its 200-day simple moving average is $117.21.

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 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 business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the previous year, the firm earned $3.16 earnings per share. The company's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share 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.

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