OLD National Bancorp IN Sells 2,901 Shares of EOG Resources, Inc. $EOG

Key Points

• OLD National Bancorp IN reduced its stake in EOG Resources, Inc. by 4.7% during the second quarter, now holding 58,342 shares worth approximately $6.98 million.
• Several institutional investors modified their holdings in EOG Resources, with significant increases in positions from NBC Securities Inc. and Procyon Advisors LLC during the first quarter.
• EOG Resources' earnings report showed a quarterly EPS of $2.32, surpassing analysts' expectations, despite a 9.1% year-over-year revenue decline to $5.48 billion.

OLD National Bancorp IN decreased its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,342 shares of the energy exploration company's stock after selling 2,901 shares during the period. OLD National Bancorp IN's holdings in EOG Resources were worth $6,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. NBC Securities Inc. raised its position in EOG Resources by 180,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,804 shares of the energy exploration company's stock valued at $231,000 after purchasing an additional 1,803 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of EOG Resources by 16.6% in the first quarter. Merit Financial Group LLC now owns 6,657 shares of the energy exploration company's stock valued at $854,000 after buying an additional 947 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of EOG Resources in the first quarter valued at about $242,000. Procyon Advisors LLC lifted its position in EOG Resources by 325.0% during the 1st quarter. Procyon Advisors LLC now owns 8,185 shares of the energy exploration company's stock worth $1,050,000 after buying an additional 6,259 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in EOG Resources by 14.3% during the 1st quarter. SeaCrest Wealth Management LLC now owns 2,103 shares of the energy exploration company's stock worth $270,000 after acquiring an additional 263 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on EOG. Wolfe Research dropped their target price on shares of EOG Resources from $139.00 to $138.00 and set an "outperform" rating for the company in a research note on Wednesday, October 1st. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Susquehanna upped their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Melius assumed coverage on EOG Resources in a research report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective on the stock. Finally, Scotiabank reissued a "sector perform" rating and issued a $130.00 target price on shares of EOG Resources in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $143.14.

EOG Resources Price Performance

Shares of EOG stock opened at $110.66 on Monday. The firm's 50 day moving average price is $118.46 and its two-hundred day moving average price is $117.16. 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. The stock has a market cap of $60.42 billion, a PE ratio of 10.75, a PEG ratio of 8.51 and a beta of 0.74.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share 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 company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current 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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