Federation des caisses Desjardins du Quebec Buys 2,500 Shares of EOG Resources, Inc. $EOG

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in EOG Resources by 21.8%, acquiring an additional 2,500 shares during the first quarter, bringing its total holdings to 13,971 shares worth about $1.79 million.
• Several institutional investors, including Banque Cantonale Vaudoise and Saudi Central Bank, established new positions in EOG Resources, highlighting a trend where institutional ownership now comprises 89.91% of the company's stock.
• EOG Resources reported a quarterly earnings per share (EPS) of $2.32, exceeding analyst estimates, even though revenues decreased 9.1% year-over-year, indicating mixed financial performance amid a challenging market.

Federation des caisses Desjardins du Quebec increased its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 21.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,971 shares of the energy exploration company's stock after acquiring an additional 2,500 shares during the period. Federation des caisses Desjardins du Quebec's holdings in EOG Resources were worth $1,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EOG. Bank Pictet & Cie Europe AG raised its holdings in EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after acquiring an additional 89,521 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in EOG Resources during the 4th quarter valued at $192,000. Cetera Investment Advisers raised its stake in EOG Resources by 1.2% during the 4th quarter. Cetera Investment Advisers now owns 109,346 shares of the energy exploration company's stock valued at $13,404,000 after buying an additional 1,310 shares during the last quarter. Fiduciary Trust Co raised its stake in EOG Resources by 9.6% during the 4th quarter. Fiduciary Trust Co now owns 12,092 shares of the energy exploration company's stock valued at $1,482,000 after buying an additional 1,059 shares during the last quarter. Finally, Ethic Inc. purchased a new stake in EOG Resources during the 4th quarter valued at $537,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EOG. Roth Capital lowered shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their target price for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Stephens began coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price for the company. Piper Sandler decreased their target price on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. KeyCorp decreased their target price on shares of 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, Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.52.

EOG Resources Price Performance

EOG Resources stock traded down $0.36 during mid-day trading on Friday, hitting $119.64. The stock had a trading volume of 345,194 shares, compared to its average volume of 3,488,198. The firm has a market capitalization of $65.32 billion, a P/E ratio of 11.63, a P/E/G ratio of 9.21 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. The firm's 50 day moving average is $119.92 and its 200 day moving average is $118.27. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18.

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. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. On average, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources Profile

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.