EOG Resources, Inc. $EOG is Mountain Lake Investment Management LLC's 9th Largest Position

Key Points

• Mountain Lake Investment Management LLC increased its stake in EOG Resources by 545.2% during the 1st quarter, making it the institutional investor's 9th largest position at $4,964,000.
• Analysts have mixed ratings for EOG Resources, with targets ranging from $134.00 to $143.52 and an average rating of "Moderate Buy".
• EOG Resources reported earnings of $2.32 per share for the most recent quarter, exceeding expectations and indicating a net margin of 25.25%.

Mountain Lake Investment Management LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 545.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,711 shares of the energy exploration company's stock after purchasing an additional 32,711 shares during the quarter. EOG Resources comprises approximately 4.7% of Mountain Lake Investment Management LLC's investment portfolio, making the stock its 9th largest holding. Mountain Lake Investment Management LLC's holdings in EOG Resources were worth $4,964,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in EOG Resources by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after acquiring an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EOG Resources by 6.5% during the 1st 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 acquiring an additional 1,188,552 shares during the last quarter. Northern Trust Corp boosted its holdings in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after acquiring an additional 358,916 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of EOG Resources by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company's stock worth $757,808,000 after purchasing an additional 223,294 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after purchasing an additional 60,454 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EOG. Susquehanna boosted their price objective on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. UBS Group increased their price objective on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Bank of America reduced their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Raymond James Financial boosted their price target on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. One investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $143.52.

Insider Activity at EOG Resources

In related 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 owned 45,739 shares of the company's stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

EOG Resources Stock Down 0.4%

Shares of EOG Resources stock traded down $0.49 during trading on Thursday, hitting $119.77. 752,768 shares of the stock traded hands, compared to its average volume of 3,497,632. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The stock's fifty day simple moving average is $120.01 and its 200 day simple moving average is $118.37. The firm has a market cap of $65.39 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 8.98 and a beta of 0.85. 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 quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating 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 company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the company earned $3.16 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts predict 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.