Mirae Asset Global Investments Co. Ltd. Buys 61,785 Shares of EOG Resources, Inc. $EOG

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in EOG Resources by 11.0%, acquiring an additional 61,785 shares, bringing its total ownership to 624,295 shares valued at approximately $74.7 million.
• Analysts have mixed opinions on EOG Resources with most ratings falling into the "Buy" or "Hold" categories, and a consensus target price of $143.14, indicating moderate growth expectations.
• EOG Resources reported a quarterly EPS of $2.32, exceeding expectations, though its revenue decreased 9.1% year-over-year, highlighting potential challenges in maintaining growth.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 624,295 shares of the energy exploration company's stock after buying an additional 61,785 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of EOG Resources worth $74,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources during the 1st quarter valued at about $26,000. Saudi Central Bank bought a new position in shares of EOG Resources during the 1st quarter valued at about $28,000. Raleigh Capital Management Inc. bought a new position in shares of EOG Resources during the 2nd quarter valued at about $29,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the 1st quarter valued at about $34,000. Finally, ORG Partners LLC lifted its holdings in shares of EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several recent analyst reports. Stephens initiated coverage on EOG Resources in a report on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price objective on the stock. Scotiabank reiterated a "sector perform" rating and set a $130.00 price objective on shares of EOG Resources in a report on Friday, September 26th. Royal Bank Of Canada cut their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Susquehanna lifted their price objective on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $148.00 price objective (up previously from $144.00) on shares of EOG Resources in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $143.14.

EOG Resources Trading Down 0.8%

NYSE EOG opened at $110.40 on Friday. The stock has a market capitalization of $60.28 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 8.54 and a beta of 0.74. The stock's 50 day moving average price is $118.62 and its two-hundred day moving average price is $117.35. 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, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.14 by $0.18. The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $3.16 EPS. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

EOG Resources 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.

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