IFP Advisors Inc Reduces Stake in EOG Resources, Inc. $EOG

Key Points

• IFP Advisors Inc significantly reduced its stake in EOG Resources, Inc. by 80.7% during the second quarter, leaving them with 4,658 shares valued at approximately $560,000.
• The company recently reported earnings of $2.32 per share for the last quarter, surpassing analysts' expectations, though its year-over-year revenue declined by 9.1%.
• Despite recent downgrades from some analysts, EOG Resources has received mostly positive ratings, including an average target price of $143.35 with several analysts maintaining a "Buy" rating.

IFP Advisors Inc lowered its position in EOG Resources, Inc. (NYSE:EOG - Free Report) by 80.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,658 shares of the energy exploration company's stock after selling 19,527 shares during the period. IFP Advisors Inc's holdings in EOG Resources were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

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

EOG Resources Trading Down 0.5%

Shares of EOG stock opened at $109.19 on Wednesday. The stock's fifty day moving average is $117.11 and its two-hundred day moving average is $116.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The firm has a market capitalization of $59.62 billion, a P/E ratio of 10.61, a PEG ratio of 8.48 and a beta of 0.74. 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 announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.16 EPS. Research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Roth Capital lowered EOG Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $140.00 to $134.00 in a research report on Wednesday, July 9th. Melius assumed coverage on EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. UBS Group upped their price objective on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Evercore ISI upped their price objective on EOG Resources from $141.00 to $149.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of EOG Resources in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $143.35.

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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