KLP Kapitalforvaltning AS Acquires 61,900 Shares of EOG Resources, Inc. $EOG

Key Points

• KLP Kapitalforvaltning AS increased its stake in EOG Resources, Inc. by 23.4%, acquiring an additional 61,900 shares during the second quarter, bringing its total holdings to approximately $39.1 million.
• EOG Resources reported earnings of $2.32 per share for the most recent quarter, surpassing expectations, despite a 9.1% year-over-year decline in revenue.
• Wall Street analysts have mixed ratings for EOG Resources, with a consensus target price of $143.39, reflecting a combination of "strong-buy," "buy," and "hold" ratings from various firms.

KLP Kapitalforvaltning AS raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 23.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326,903 shares of the energy exploration company's stock after acquiring an additional 61,900 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.06% of EOG Resources worth $39,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of EOG Resources in the first quarter valued at $451,908,000. Charles Schwab Investment Management Inc. grew its stake in shares of EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after buying an additional 1,188,552 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of EOG Resources in the first quarter valued at $81,752,000. LSV Asset Management grew its stake in shares of EOG Resources by 290.5% in the first quarter. LSV Asset Management now owns 687,446 shares of the energy exploration company's stock valued at $88,158,000 after buying an additional 511,418 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of EOG Resources in the first quarter valued at $52,273,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Trading Down 0.3%

Shares of EOG Resources stock opened at $110.50 on Tuesday. The business has a fifty day simple moving average of $118.24 and a two-hundred day simple moving average of $117.06. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a market capitalization of $60.33 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 8.51 and a beta of 0.74. 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 announced 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 business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter last year, the firm posted $3.16 EPS. The company's quarterly revenue was down 9.1% on a year-over-year basis. Research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EOG shares. Mizuho decreased their target price on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Susquehanna raised their target price on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of EOG Resources in a research note on Saturday, September 27th. Raymond James Financial raised their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Argus downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, EOG Resources has an average rating of "Hold" and a consensus target price of $143.39.

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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