Fiduciary Financial Group LLC Acquires New Shares in EOG Resources, Inc. $EOG

Key Points

• Fiduciary Financial Group LLC acquired 3,386 shares of EOG Resources, Inc. during Q2, valued at approximately $410,000.
• Other hedge funds, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., also increased their stakes in EOG, highlighting significant institutional interest, with hedge funds owning 89.91% of the company's stock.
• EOG Resources reported earnings of $2.32 per share for the last quarter, exceeding expectations, though its revenue was down 9.1% year-over-year at $5.48 billion.

Fiduciary Financial Group LLC acquired a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,386 shares of the energy exploration company's stock, valued at approximately $410,000.

A number of other hedge funds have also added to or reduced their stakes in EOG. Vanguard Group Inc. lifted its holdings in shares of EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after buying an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the period. Northern Trust Corp increased its holdings in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after acquiring an additional 358,916 shares during the period. Alliancebernstein L.P. lifted its stake in EOG Resources by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company's stock worth $757,808,000 after purchasing an additional 223,294 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in EOG Resources by 1.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $118.20 on Friday. The firm has a market capitalization 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. 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 $119.80 and its 200-day moving average price is $118.10.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) 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 business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. EOG Resources's revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $119.65, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. UBS Group upped their target price on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler dropped their price target on EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Stephens began coverage on EOG Resources in a report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective for the company. Finally, Melius Research assumed coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.52.

EOG Resources Company 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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