FORA Capital LLC Makes New Investment in EOG Resources, Inc. $EOG

Key Points

• FORA Capital LLC has acquired a new position in EOG Resources, purchasing 3,678 shares worth approximately $472,000 during the first quarter.
• Several institutional investors have made significant changes to their positions in EOG, with Nuveen LLC investing over $451 million and GAMMA Investing LLC increasing its holdings by 14,784.1% in the same period.
• EOG Resources reported earnings per share (EPS) of $2.32 for the last quarter, surpassing analysts' expectations of $2.14, while also facing a 9.1% revenue decline year-over-year.

FORA Capital LLC bought a new position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,678 shares of the energy exploration company's stock, valued at approximately $472,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in EOG Resources by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after acquiring an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of EOG Resources by 6.5% during the first 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 purchasing an additional 1,188,552 shares in the last quarter. Northern Trust Corp increased its position in shares of EOG Resources by 6.3% during the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after purchasing an additional 358,916 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of EOG Resources by 1.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after purchasing an additional 60,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of EOG Resources by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock worth $629,789,000 after buying an additional 36,777 shares during the period. Institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EOG. UBS Group boosted their target price on shares of EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada lowered their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Melius started coverage on EOG Resources in a research note on Wednesday, August 20th. They set a "buy" rating and a $173.00 target price for the company. Susquehanna upped their price target on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, Barclays upped their price target on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $143.61.

EOG Resources Trading Up 0.8%

Shares of EOG Resources stock traded up $1.05 during trading hours on Tuesday, hitting $125.87. The company's stock had a trading volume of 1,050,551 shares, compared to its average volume of 3,542,677. The business has a fifty day moving average of $120.11 and a 200 day moving average of $118.78. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $68.72 billion, a PE ratio of 12.22, a P/E/G ratio of 9.56 and a beta of 0.85.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same period in the previous year, the company posted $3.16 earnings per share. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

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 stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.