EOG Resources, Inc. $EOG Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in EOG Resources by 275.9% in Q1, owning 3,804 shares valued at $488,000, following a purchase of 2,792 additional shares.
• Institutional investors collectively own 89.91% of EOG Resources' stock, with significant increases in holdings from firms like Vanguard Group and Charles Schwab Investment Management.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for EOG Resources, with varied price targets, including a raise from Jefferies Financial Group to $148.00.

Bayforest Capital Ltd lifted its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 275.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,804 shares of the energy exploration company's stock after buying an additional 2,792 shares during the quarter. Bayforest Capital Ltd's holdings in EOG Resources were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EOG. 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 worth $6,922,633,000 after acquiring an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 6.5% in the first 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 buying an additional 1,188,552 shares during the last quarter. Northern Trust Corp increased its holdings in EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after buying an additional 358,916 shares during the last quarter. Alliancebernstein L.P. lifted 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 worth $757,808,000 after buying an additional 223,294 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of EOG Resources by 1.1% in 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 acquiring an additional 60,454 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EOG shares. Mizuho lowered their price target on EOG Resources from $140.00 to $134.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Jefferies Financial Group reissued a "buy" rating and issued a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Piper Sandler reduced their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, KeyCorp dropped their price target on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. One equities research 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 stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus 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 that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.

EOG Resources Trading Down 0.2%

NYSE:EOG opened at $117.41 on Wednesday. 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 stock's 50 day simple moving average is $120.07 and its 200-day simple moving average is $118.35. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The firm has a market cap of $64.10 billion, a P/E ratio of 11.41, a PEG ratio of 9.01 and a beta of 0.85.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts' consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.16 EPS. Equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current 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.

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