EOG Resources, Inc. $EOG Shares Bought by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC significantly increased its holdings in EOG Resources, acquiring an additional 16,844 shares and raising its total ownership to 33,715 shares valued at approximately $4.32 million.
• Recent analyst ratings reflect mixed opinions on EOG Resources, with a consensus price target of $143.52, and one analyst rating it as a Strong Buy.
• EOG Resources reported strong quarterly earnings, with an EPS of $2.32, exceeding analysts' expectations, although revenue decreased by 9.1% compared to the previous year.

EP Wealth Advisors LLC lifted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 99.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,715 shares of the energy exploration company's stock after purchasing an additional 16,844 shares during the period. EP Wealth Advisors LLC's holdings in EOG Resources were worth $4,324,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Silvercrest Asset Management Group LLC increased its stake in EOG Resources by 14.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock valued at $101,256,000 after purchasing an additional 106,677 shares in the last quarter. ARGA Investment Management LP increased its stake in EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock valued at $1,724,000 after purchasing an additional 2,616 shares in the last quarter. CWA Asset Management Group LLC increased its stake in EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock valued at $2,609,000 after purchasing an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock valued at $20,852,000 after purchasing an additional 44,687 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock valued at $25,107,000 after purchasing an additional 45,295 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EOG Resources

In related 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 transaction of $472,737.15. Following the completion of the sale, the chief operating officer directly owned 45,739 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

EOG Resources Stock Performance

Shares of EOG Resources stock traded up $0.98 during trading hours on Tuesday, hitting $118.63. 618,115 shares of the company were exchanged, compared to its average volume of 3,511,550. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $120.14 and a 200-day moving average of $118.36. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The stock has a market capitalization of $64.77 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 9.03 and a beta of 0.85.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.45 billion. During the same period last year, the company earned $3.16 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EOG. Mizuho dropped their price target on shares of EOG Resources from $140.00 to $134.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. Melius initiated coverage on shares of EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target on the stock. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Roth Capital downgraded shares of 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.52.

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.