EOG Resources, Inc. $EOG Shares Sold by Perpetual Ltd

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 lowered its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 49.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of EOG. IFM Investors Pty Ltd lifted its stake in shares of EOG Resources by 2.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 115,513 shares of the energy exploration company's stock valued at $13,817,000 after purchasing an additional 2,382 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of EOG Resources by 4.0% in the 2nd quarter. Moody National Bank Trust Division now owns 11,624 shares of the energy exploration company's stock valued at $1,390,000 after purchasing an additional 443 shares in the last quarter. Global Financial Private Client LLC raised its holdings in EOG Resources by 3.1% during the second quarter. Global Financial Private Client LLC now owns 6,813 shares of the energy exploration company's stock worth $815,000 after purchasing an additional 208 shares in the last quarter. Rockland Trust Co. increased its position in EOG Resources by 4.2% during the second quarter. Rockland Trust Co. now owns 234,361 shares of the energy exploration company's stock worth $28,032,000 after buying an additional 9,473 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in EOG Resources by 34.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 218,275 shares of the energy exploration company's stock valued at $26,881,000 after acquiring an additional 55,672 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer directly owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EOG has been the topic of several research reports. Piper Sandler lowered their target price on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Jefferies Financial Group restated a "buy" rating and issued a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Stephens began coverage on EOG Resources in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price target on the stock. Finally, Melius assumed coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price on the stock. One investment 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 company's stock. According to MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $143.48.

EOG Resources Stock Performance

NYSE EOG opened at $115.74 on Monday. The firm has a market cap of $63.19 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 8.92 and a beta of 0.85. The company has a fifty day moving average price of $119.43 and a 200-day moving average price of $117.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released 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. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.16 EPS. As a group, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS 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.

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