EOG Resources, Inc. $EOG Shares Acquired by Beck Mack & Oliver LLC

Key Points

• Beck Mack & Oliver LLC increased its stake in EOG Resources, Inc. by 77.5% during the first quarter, securing a total of 4,900 shares valued at approximately $628,000.
• Other institutional investors also significantly increased their positions in EOG, with notable increases such as GAMMA Investing LLC by 14,784.1% and Charles Schwab by 6.5%.
• EOG Resources reported earnings of $2.32 per share for the last quarter, surpassing estimates, although revenue showed a 9.1% decline compared to the previous year.

Beck Mack & Oliver LLC increased its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 77.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,900 shares of the energy exploration company's stock after acquiring an additional 2,140 shares during the quarter. Beck Mack & Oliver LLC's holdings in EOG Resources were worth $628,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in EOG Resources during the first quarter worth approximately $451,908,000. GAMMA Investing LLC increased its holdings in shares of EOG Resources by 14,784.1% in the 1st quarter. GAMMA Investing LLC now owns 1,281,374 shares of the energy exploration company's stock valued at $164,323,000 after acquiring an additional 1,272,765 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after acquiring an additional 1,188,552 shares during the period. Deutsche Bank AG boosted its stake in EOG Resources by 58.6% during the 4th quarter. Deutsche Bank AG now owns 2,081,409 shares of the energy exploration company's stock worth $255,139,000 after purchasing an additional 769,362 shares during the period. Finally, LSV Asset Management boosted its stake in EOG Resources by 290.5% during the 1st 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. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG opened at $124.89 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a 50-day simple moving average of $120.06 and a 200-day simple moving average of $118.88. The company has a market capitalization of $68.19 billion, a PE ratio of 12.14, a P/E/G ratio of 9.54 and a beta of 0.80.

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 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 company 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 business posted $3.16 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of research reports. Raymond James Financial upped their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. UBS Group upped 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. Bank of America lowered their target price on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Royal Bank Of Canada cut their price target 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. Finally, Roth Capital downgraded EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $143.61.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

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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