Galvin Gaustad & Stein LLC Decreases Stock Holdings in EOG Resources, Inc. $EOG

Key Points

• Galvin Gaustad & Stein LLC reduced its holdings in EOG Resources, Inc. by 6.4%, owning 137,361 shares after selling 9,458 shares in the second quarter.
• Research analysts show a mixed outlook, with Raymond James raising their target price from $158 to $161 and JPMorgan lowering theirs from $132 to $131, leading to a consensus target price of $143.43.
• EOG Resources reported earnings of $2.32 per share, exceeding expectations and demonstrating a revenue of $5.48 billion for the last quarter, though this was a 9.1% decrease from the same quarter last year.

Galvin Gaustad & Stein LLC decreased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,361 shares of the energy exploration company's stock after selling 9,458 shares during the quarter. EOG Resources accounts for approximately 1.4% of Galvin Gaustad & Stein LLC's holdings, making the stock its 28th biggest position. Galvin Gaustad & Stein LLC's holdings in EOG Resources were worth $16,430,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in EOG Resources in the 1st quarter worth about $26,000. Saudi Central Bank purchased a new position in EOG Resources in the 1st quarter worth about $28,000. Raleigh Capital Management Inc. purchased a new position in EOG Resources in the 2nd quarter worth about $29,000. Alpine Bank Wealth Management purchased a new position in EOG Resources in the 1st quarter worth about $34,000. Finally, WPG Advisers LLC bought a new position in EOG Resources in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EOG shares. Raymond James Financial increased their target price on EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lowered their target price on EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Evercore ISI increased their target price on EOG Resources from $141.00 to $149.00 and gave the company an "outperform" rating in a report on Monday. Jefferies Financial Group reissued a "buy" rating and issued a $148.00 target price (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of EOG Resources in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $143.43.

EOG Resources Stock Up 1.2%

NYSE EOG opened at $111.84 on Friday. The stock's 50-day moving average price is $117.60 and its 200-day moving average price is $116.86. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a market capitalization of $61.06 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 8.54 and a beta of 0.74.

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

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.

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