Legacy Trust Sells 9,547 Shares of EOG Resources, Inc. $EOG

Key Points

• Legacy Trust reduced its holdings in EOG Resources by 32.9%, selling 9,547 shares and bringing its total to 19,515 shares valued at $2,334,000.
• EOG Resources reported $2.32 earnings per share for the last quarter, surpassing estimates of $2.14, despite a 9.1% decline in revenue year-over-year.
• Currently, institutional investors own 89.91% of EOG Resources' stock, indicating strong institutional interest in the company.

Legacy Trust lowered its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 32.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,515 shares of the energy exploration company's stock after selling 9,547 shares during the period. Legacy Trust's holdings in EOG Resources were worth $2,334,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ARGA Investment Management LP boosted its stake in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after buying an additional 2,616 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in EOG Resources by 30.1% during the first 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 in the last quarter. CWA Asset Management Group LLC boosted its stake in EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after buying an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after buying an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in EOG Resources by 4.7% during the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after buying an additional 8,127 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Stock Performance

EOG Resources stock opened at $110.66 on Friday. The stock has a 50-day simple moving average of $118.46 and a 200 day simple moving average of $117.21. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 8.51 and a beta of 0.74.

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 analysts' consensus estimates 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 analysts' expectations of $5.45 billion. During the same period in the previous year, the business posted $3.16 earnings per share. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Scotiabank reiterated a "sector perform" rating and set a $130.00 price target on shares of EOG Resources in a research note on Friday, September 26th. Raymond James Financial boosted 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. Susquehanna boosted 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. KeyCorp reduced their target price on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company restated an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $143.14.

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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