NewEdge Advisors LLC Has $2.86 Million Stock Position in EOG Resources, Inc. $EOG

Key Points

• NewEdge Advisors LLC increased its stake in EOG Resources, Inc. by 16.3%, bringing its total position to $2.86 million and 22,336 shares as per its recent SEC filing.
• Analysts have mixed ratings for EOG Resources, with one Strong Buy, eleven Buy, and twelve Hold ratings, and an average price target of $143.52.
• EOG Resources recently reported earnings of $2.32 per share, exceeding expectations, but noted a 9.1% decline in revenue year-over-year.

NewEdge Advisors LLC lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,336 shares of the energy exploration company's stock after purchasing an additional 3,132 shares during the quarter. NewEdge Advisors LLC's holdings in EOG Resources were worth $2,864,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in EOG Resources in the 1st quarter worth $26,000. Saudi Central Bank acquired a new stake in shares of EOG Resources in the first quarter valued at about $28,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter valued at about $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $36,000. Finally, WPG Advisers LLC acquired a new stake in shares of EOG Resources in the first quarter valued at about $36,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $148.00 price target (up from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Barclays raised their price target on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Susquehanna raised their price target on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Stephens began coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, EOG Resources has an average rating of "Moderate Buy" and an average price target of $143.52.

EOG Resources Trading Up 2.4%

Shares of EOG Resources stock opened at $120.17 on Thursday. The stock has a market capitalization of $65.61 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 8.98 and a beta of 0.85. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $120.01 and a 200 day simple moving average of $118.37. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $3.16 EPS. Research analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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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