Jacobs Levy Equity Management Inc. Takes Position in EOG Resources, Inc. $EOG

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in EOG Resources, Inc., purchasing approximately 637,491 shares valued at $81.75 million during the first quarter.
• The company's latest earnings report showed earnings per share of $2.32, surpassing estimates, but revenue is down 9.1% year-over-year at $5.48 billion.
• Majority ownership is held by institutional investors and hedge funds, with cumulative ownership reported at 89.91% of EOG's stock.

Jacobs Levy Equity Management Inc. purchased a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 637,491 shares of the energy exploration company's stock, valued at approximately $81,752,000. Jacobs Levy Equity Management Inc. owned about 0.12% of EOG Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC boosted its position in shares of EOG Resources by 14.8% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 826,038 shares of the energy exploration company's stock worth $101,256,000 after purchasing an additional 106,677 shares during the last quarter. ARGA Investment Management LP boosted its position in shares of EOG Resources by 24.2% in the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after purchasing an additional 2,616 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of EOG Resources by 15.3% in the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of EOG Resources by 37.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after purchasing an additional 44,687 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock worth $25,107,000 after buying an additional 45,295 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Royal Bank Of Canada dropped 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. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. Roth Capital downgraded EOG Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Finally, Stephens initiated coverage on EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, EOG Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.52.

EOG Resources Stock Down 0.2%

Shares of EOG traded down $0.24 during midday trading on Tuesday, hitting $117.41. The stock had a trading volume of 2,358,782 shares, compared to its average volume of 3,521,973. The company has a 50 day simple moving average of $120.14 and a two-hundred day simple moving average of $118.36. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a market cap of $64.11 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 9.03 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.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the business posted $3.16 EPS. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current 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 dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.

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.