EOG Resources, Inc. $EOG Shares Bought by Segment Wealth Management LLC

Key Points

• Segment Wealth Management LLC increased its position in EOG Resources by 2.2% during Q2, purchasing an additional 2,599 shares, bringing its total to 122,744 shares valued at approximately $14.68 million.
• Several hedge funds have also boosted their stakes in EOG Resources, with increases ranging from 15.3% to 37.9% during Q1, indicating strong institutional interest in the company.
• EOG Resources reported earnings of $2.32 per share in its latest quarter, exceeding analyst expectations, although revenue declined by 9.1% year-over-year to $5.48 billion.

Segment Wealth Management LLC grew its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,744 shares of the energy exploration company's stock after purchasing an additional 2,599 shares during the period. Segment Wealth Management LLC's holdings in EOG Resources were worth $14,681,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ARGA Investment Management LP raised its stake in shares of EOG Resources by 24.2% in the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after acquiring an additional 2,616 shares in the last quarter. Canada Pension Plan Investment Board raised its stake 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 stake 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 stake 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 stake 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 and hedge funds.

Analyst Upgrades and Downgrades

EOG has been the topic of several analyst reports. Raymond James Financial increased their price objective 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. Mizuho dropped their target price on EOG Resources from $140.00 to $133.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Susquehanna increased their target price on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada dropped their target price on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $143.14.

EOG Resources Stock Performance

Shares of EOG stock opened at $110.66 on Friday. The stock's 50-day moving average is $118.46 and its two-hundred day moving average is $117.27. The firm has a market cap of $60.42 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 8.48 and a beta of 0.74. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

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 (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 earnings per share. Analysts predict that EOG Resources, Inc. will post 11.47 earnings per share for the current 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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