EOG Resources, Inc. $EOG Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its stake in EOG Resources by 5.4%, selling 4,485 shares during the second quarter, and now owns 77,832 shares valued at approximately $9.3 million.
• EOG Resources reported $2.32 EPS for the last quarter, exceeding analyst estimates of $2.14 EPS, although its revenue was down 9.1% compared to the same period last year.
• Analyst ratings for EOG show a consensus of Moderate Buy, with an average target price of $143.48, despite some varied price targets from institutions.

State of Alaska Department of Revenue lowered its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,832 shares of the energy exploration company's stock after selling 4,485 shares during the quarter. State of Alaska Department of Revenue's holdings in EOG Resources were worth $9,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. NovaPoint Capital LLC increased its stake in shares of EOG Resources by 8.8% during the 2nd quarter. NovaPoint Capital LLC now owns 25,636 shares of the energy exploration company's stock worth $3,066,000 after purchasing an additional 2,070 shares during the last quarter. Patton Fund Management Inc. bought a new position in EOG Resources in the second quarter worth $233,000. Kathmere Capital Management LLC raised its stake in shares of EOG Resources by 32.9% in the 2nd quarter. Kathmere Capital Management LLC now owns 6,388 shares of the energy exploration company's stock valued at $764,000 after buying an additional 1,580 shares in the last quarter. Evergreen Private Wealth LLC raised its position in EOG Resources by 9.8% in the second quarter. Evergreen Private Wealth LLC now owns 27,113 shares of the energy exploration company's stock worth $3,243,000 after purchasing an additional 2,431 shares in the last quarter. Finally, Patron Partners LLC lifted its stake in EOG Resources by 5.6% during the second quarter. Patron Partners LLC now owns 2,925 shares of the energy exploration company's stock worth $350,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $117.19 on Friday. 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, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The business's 50-day moving average price is $119.13 and its 200-day moving average price is $117.62. The firm has a market capitalization of $63.98 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 9.01 and a beta of 0.85.

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 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 firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company earned $3.16 EPS. The business's quarterly revenue was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analyst Ratings Changes

EOG has been the topic of a number of research analyst reports. Barclays increased their price target on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Argus downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada reduced their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Stephens began coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. Finally, UBS Group lifted their target price on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.48.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

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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