EOG Resources, Inc. $EOG Shares Bought by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its stake in EOG Resources by 7.4%, owning 117,035 shares valued at approximately $14 million following the purchase of an additional 8,048 shares.
• Institutional investors hold 89.91% of EOG Resources, with several firms, including CWA Asset Management and Canada Pension Plan Investment Board, significantly increasing their respective positions in the company.
• EOG Resources reported $2.32 EPS for the most recent quarter, exceeding the analysts' consensus estimate by $0.18, although revenue decreased by 9.1% year-over-year.

Wesbanco Bank Inc. boosted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,035 shares of the energy exploration company's stock after purchasing an additional 8,048 shares during the period. Wesbanco Bank Inc.'s holdings in EOG Resources were worth $13,999,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 valued at $6,922,633,000 after purchasing an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Northern Trust Corp grew 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 valued at $779,433,000 after purchasing an additional 358,916 shares in the last quarter. Alliancebernstein L.P. grew its holdings in 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 valued at $757,808,000 after purchasing an additional 223,294 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $709,201,000 after purchasing an additional 60,454 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EOG shares. Melius Research started coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target for the company. Stephens started coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective on the stock. Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Raymond James Financial increased their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $143.48.

EOG Resources Price Performance

EOG Resources stock traded down $2.47 during trading hours on Friday, hitting $115.85. 1,687,238 shares of the company traded hands, compared to its average volume of 3,468,724. The firm has a market cap of $63.25 billion, a P/E ratio of 11.25, a P/E/G ratio of 9.18 and a beta of 0.85. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The firm's 50-day simple moving average is $119.58 and its two-hundred day simple moving average is $117.97. 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 released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. EOG Resources's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $3.16 EPS. As a group, analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated 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 owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.