Meiji Yasuda Asset Management Co Ltd. Cuts Stock Position in EOG Resources, Inc. $EOG

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in EOG Resources by 4.6%, owning 84,242 shares valued at approximately $10.8 million after selling 4,080 shares in the first quarter.
• EOG Resources reported earnings of $2.32 per share, exceeding analysts' expectations, despite a 9.1% decline in revenue year-over-year to $5.48 billion.
• Analysts have set new price targets for EOG Resources, with a current consensus target price of $143.52, reflecting a "Moderate Buy" rating among financial experts.

Meiji Yasuda Asset Management Co Ltd. cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,242 shares of the energy exploration company's stock after selling 4,080 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in EOG Resources were worth $10,803,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EOG. Banque Cantonale Vaudoise bought a new position in EOG Resources in the 1st quarter valued at approximately $26,000. Saudi Central Bank bought a new position in shares of EOG Resources during the 1st quarter valued at $28,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the 1st quarter valued at $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources during the 4th quarter valued at $36,000. Finally, WPG Advisers LLC bought a new position in shares of EOG Resources during the 1st quarter valued at $36,000. 89.91% of the stock is owned by institutional investors.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 45,739 shares in the company, 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 the SEC website. Insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

EOG Resources stock traded down $1.80 during trading on Friday, reaching $118.20. The company had a trading volume of 1,967,189 shares, compared to its average volume of 2,275,035. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm's 50-day simple moving average is $119.80 and its 200 day simple moving average is $118.18. The firm has a market capitalization of $64.54 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 9.19 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.

EOG Resources (NYSE:EOG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EOG. Roth Capital cut EOG Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Melius began coverage on EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target on the stock. Bank of America lowered their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Jefferies Financial Group reissued a "buy" rating and set a $148.00 price target (up from $144.00) on shares of EOG Resources in a report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of "Moderate Buy" and an average price target of $143.52.

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.