Gateway Investment Advisers LLC Acquires 3,284 Shares of EOG Resources, Inc. $EOG

Key Points

• Gateway Investment Advisers LLC increased its holdings in EOG Resources by 44.5% in Q2, owning 10,661 shares valued at $1,275,000.
• Several institutional investors, including Bank Pictet & Cie Europe AG and Worldquant Millennium Advisors LLC, significantly increased their stakes in EOG during the 4th quarter, reflecting growing investor confidence.
• EOG Resources reported an earnings per share (EPS) of $2.32 for the last quarter, exceeding analyst expectations, despite a 9.1% year-over-year decline in quarterly revenue.

Gateway Investment Advisers LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 44.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,661 shares of the energy exploration company's stock after acquiring an additional 3,284 shares during the period. Gateway Investment Advisers LLC's holdings in EOG Resources were worth $1,275,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. StrongBox Wealth LLC lifted its holdings in EOG Resources by 1.9% during the 2nd quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock valued at $576,000 after purchasing an additional 88 shares during the last quarter. Granite Harbor Advisors Inc. lifted its holdings in EOG Resources by 3.2% during the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock valued at $389,000 after purchasing an additional 94 shares during the last quarter. FSM Wealth Advisors LLC lifted its holdings in EOG Resources by 6.2% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp lifted its holdings in EOG Resources by 1.6% during the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank of Jackson Hole Trust lifted its holdings in EOG Resources by 1.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after purchasing an additional 100 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Performance

EOG stock traded down $2.58 during trading hours on Friday, reaching $115.74. The stock had a trading volume of 6,830,296 shares, compared to its average volume of 2,281,706. The stock has a market capitalization of $63.19 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 9.06 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock has a 50-day simple moving average of $119.43 and a 200 day simple moving average of $117.92. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

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 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 for the quarter, compared to analyst estimates of $5.45 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The company's revenue was down 9.1% on a year-over-year basis. Analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

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 value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EOG. Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada cut their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Mizuho cut their price target on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Piper Sandler cut their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Raymond James Financial raised their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.48.

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.