Perbak Capital Partners LLP Makes New $327,000 Investment in EOG Resources, Inc. $EOG

Key Points

• Perbak Capital Partners LLP has initiated a position in EOG Resources, acquiring 2,547 shares valued at approximately $327,000 during the first quarter.
• Insider activity includes COO Jeffrey R. Leitzell selling 3,951 shares at an average price of $119.65, leading to a 7.95% decrease in his ownership.
• Analysts have mixed views on EOG Resources, with a consensus rating of "Moderate Buy" and a price target of $143.61 following multiple ratings adjustments from several firms.

Perbak Capital Partners LLP purchased a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,547 shares of the energy exploration company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock worth $6,922,633,000 after purchasing an additional 348,895 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 worth $2,485,402,000 after purchasing an additional 1,188,552 shares during the period. Northern Trust Corp grew its stake in EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock worth $779,433,000 after purchasing an additional 358,916 shares during the period. Massachusetts Financial Services Co. MA grew its stake in EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock worth $709,201,000 after purchasing an additional 60,454 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in EOG Resources by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,911,741 shares of the energy exploration company's stock worth $629,789,000 after purchasing an additional 36,777 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

EOG stock traded down $3.71 during trading on Friday, reaching $117.89. The stock had a trading volume of 3,710,648 shares, compared to its average volume of 2,379,045. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock's 50 day moving average is $120.18 and its two-hundred day moving average is $118.59. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $64.37 billion, a PE ratio of 11.46, a PEG ratio of 9.03 and a beta of 0.85.

EOG Resources (NYSE:EOG - Get Free Report) last posted its 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 company earned $3.16 earnings per share. EOG Resources's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Susquehanna upped their price target on EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Melius Research initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a "buy" rating and a $173.00 target price on the stock. Finally, Barclays boosted their target price on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $143.52.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares of the company's stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company's stock.

EOG Resources Company 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.