EOG Resources, Inc. $EOG Stake Trimmed by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC reduced its EOG Resources stake by 4.9% in the third quarter, selling 6,543 shares and retaining 128,307 shares valued at approximately $17.7 million. Institutional investors collectively own 89.91% of EOG’s stock.
• EOG reported quarterly earnings of $5.07 per share, exceeding analysts’ $4.97 estimate, while revenue rose 57.4% year over year to $8.62 billion. The stock was trading at $157.81, down 4.7%.
• Insiders sold 52,317 shares worth about $7.8 million over the past 90 days. Analysts maintain a consensus “Hold” rating with an average price target of $161.24.

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,307 shares of the energy exploration company's stock after selling 6,543 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in EOG Resources were worth $17,676,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in EOG Resources in the second quarter valued at about $5,905,587,000. Dimensional Fund Advisors LP grew its stake in EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company's stock worth $848,228,000 after buying an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in EOG Resources during the second quarter worth about $654,899,000. Bank of America Corp DE bought a new position in EOG Resources in the second quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP increased its stake in shares of EOG Resources by 15.7% in the 1st quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company's stock valued at $498,189,000 after purchasing an additional 468,090 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ezra Y. Yacob sold 35,942 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company's stock, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael P. Donaldson sold 7,336 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 52,317 shares of company stock worth $7,823,480. Company insiders own 0.14% of the company's stock.

EOG Resources Trading Down 4.7%

EOG opened at $157.81 on Tuesday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $165.93. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $149.15 and a 200-day moving average of $137.01. The stock has a market cap of $82.78 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.36.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources's quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 earnings per share. On average, sell-side analysts predict that EOG Resources, Inc. will post 17.70 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EOG shares. Wall Street Zen upgraded shares of EOG Resources from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Morgan Stanley upped their target price on EOG Resources from $157.00 to $163.00 and gave the stock an "equal weight" rating in a report on Thursday, October 15th. Wells Fargo & Company reiterated an "overweight" rating and set a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. The Goldman Sachs Group restated a "neutral" rating and issued a $151.00 price target (up from $127.00) on shares of EOG Resources in a research report on Monday, August 24th. Finally, Roth Capital reiterated a "neutral" rating and set a $138.00 price target on shares of EOG Resources in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $161.24.

EOG Resources Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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