Everstar Asset Management LLC Makes New $19.23 Million Investment in EOG Resources, Inc. $EOG

Key Points

• Everstar Asset Management LLC has acquired a new position in EOG Resources, purchasing 149,915 shares valued at approximately $19.2 million, making it the 6th largest holding in their portfolio.
• EOG Resources reported a quarterly EPS of $2.32, exceeding estimates, even as revenue fell 9.1% year-over-year to $5.48 billion.
• Analysts have varying ratings on EOG Resources, with one Strong Buy and a mixed consensus that includes eleven Buy ratings and twelve Hold ratings, leading to an average target price of $143.52.

Everstar Asset Management LLC purchased a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 149,915 shares of the energy exploration company's stock, valued at approximately $19,225,000. EOG Resources comprises approximately 3.6% of Everstar Asset Management LLC's investment portfolio, making the stock its 6th largest holding.

Other hedge funds also recently modified their holdings of the company. Silvercrest Asset Management Group LLC boosted its stake in shares of 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 worth $101,256,000 after purchasing an additional 106,677 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of 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 worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of 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 worth $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of 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 worth $20,852,000 after purchasing an additional 44,687 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of 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 worth $25,107,000 after purchasing an additional 45,295 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EOG Resources

In other 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 transaction of $472,737.15. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

EOG Resources Stock Down 1.5%

NYSE:EOG traded down $1.80 during trading hours on Friday, hitting $118.20. The stock had a trading volume of 1,967,189 shares, compared to its average volume of 2,275,035. 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 1-year low of $102.52 and a 1-year high of $138.18. The business has a 50 day simple moving average of $119.80 and a two-hundred day simple moving average of $118.10. The company has a market cap of $64.54 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 9.19 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 (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the company earned $3.16 earnings per share. EOG Resources's revenue for the quarter was down 9.1% on a year-over-year basis. Analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on EOG. KeyCorp decreased their price target on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Barclays increased their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Raymond James Financial increased their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada cut their price objective on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, Susquehanna increased their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $143.52.

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.