EOG Resources, Inc. $EOG Shares Sold by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC reduced its stake in EOG Resources by 60.2%, selling 126,643 shares in the first quarter, leaving them with 83,864 shares valued at approximately $10.76 million.
• Analysts have set a consensus target price of $143.52 for EOG Resources, with ratings varying from Strong Buy to Hold by different firms.
• EOG Resources reported a 9.1% decrease in revenue year-over-year despite surpassing EPS expectations with $2.32 for the latest quarter.

Gotham Asset Management LLC lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 60.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,864 shares of the energy exploration company's stock after selling 126,643 shares during the quarter. Gotham Asset Management LLC's holdings in EOG Resources were worth $10,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Clark Capital Management Group Inc. purchased a new stake in shares of EOG Resources during the first quarter worth $40,220,000. Corigliano Investment Advisers LLC increased its position in shares of EOG Resources by 186.4% during the first quarter. Corigliano Investment Advisers LLC now owns 107,750 shares of the energy exploration company's stock worth $13,818,000 after acquiring an additional 70,126 shares during the period. Belmont Capital LLC increased its position in shares of EOG Resources by 50.5% during the first quarter. Belmont Capital LLC now owns 1,818 shares of the energy exploration company's stock worth $233,000 after acquiring an additional 610 shares during the period. Alliancebernstein L.P. increased its position in shares of EOG Resources by 3.9% during the first quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company's stock worth $757,808,000 after acquiring an additional 223,294 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of EOG Resources by 17.4% during the first quarter. AQR Capital Management LLC now owns 1,519,934 shares of the energy exploration company's stock worth $194,916,000 after acquiring an additional 225,110 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Stock Performance

Shares of EOG stock traded down $0.79 during mid-day trading on Friday, hitting $119.21. 491,598 shares of the stock were exchanged, compared to its average volume of 3,488,941. The stock's fifty day simple moving average is $119.92 and its two-hundred day simple moving average is $118.27. The stock has a market capitalization of $65.09 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 9.21 and a beta of 0.85. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

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, topping the consensus estimate of $2.14 by $0.18. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 earnings per share. On average, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analyst Ratings Changes

EOG has been the topic of a number of recent research reports. Bank of America cut their price objective on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and dropped their target price for the company from $140.00 to $134.00 in a report on Wednesday, July 9th. Morgan Stanley set a $135.00 target price on EOG Resources and gave the company an "equal weight" rating in a report on Monday, June 2nd. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. One research 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 company's stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and an average target price of $143.52.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by 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.