Perpetual Ltd Trims Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Perpetual Ltd significantly reduced its stake in EOG Resources by 49.8%, now holding only 3,700 shares worth approximately $443,000, after selling 3,665 shares in the second quarter.
• Other institutional investors, including Wealth Enhancement Advisory Services LLC and Rockland Trust Co., increased their stakes in EOG Resources during the same period, with Wealth Enhancement growing by 34.2%.
• EOG Resources reported an earnings per share (EPS) of $2.32 for the last quarter, exceeding analyst estimates, although revenue fell 9.1% year-over-year.

Perpetual Ltd trimmed its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 49.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,700 shares of the energy exploration company's stock after selling 3,665 shares during the quarter. Perpetual Ltd's holdings in EOG Resources were worth $443,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EOG. StrongBox Wealth LLC raised its stake in shares of EOG Resources by 1.9% in the second quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock worth $576,000 after purchasing an additional 88 shares during the last quarter. Granite Harbor Advisors Inc. raised its stake in shares of EOG Resources by 3.2% in the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after purchasing an additional 94 shares during the last quarter. FSM Wealth Advisors LLC raised its stake in shares of EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp raised its stake in shares of EOG Resources by 1.6% in the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank of Jackson Hole Trust raised its stake in shares of EOG Resources by 1.6% in the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after purchasing an additional 100 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

EOG Resources stock traded down $0.48 during midday trading on Monday, reaching $115.52. 2,929,465 shares of the stock traded hands, compared to its average volume of 2,510,927. The stock's fifty day moving average is $119.43 and its 200-day moving average is $117.86. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The stock has a market cap of $63.07 billion, a P/E ratio of 11.23, a PEG ratio of 8.92 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.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating 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 company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period in the prior year, the company earned $3.16 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on EOG shares. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Piper Sandler reduced their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Melius started coverage on EOG Resources in a research report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price objective for the company. Stephens started coverage on EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective for the company. Finally, KeyCorp reduced their price objective on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. One 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 stock. According to MarketBeat, EOG Resources presently has a consensus rating of "Moderate Buy" and an average price target of $143.48.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.