Pines Wealth Management LLC Takes $278,000 Position in EOG Resources, Inc. $EOG

Key Points

• Pines Wealth Management LLC has acquired 2,260 shares of EOG Resources, valued at approximately $278,000, marking its entry into the company's ownership as of the second quarter.
• Institutional investors now hold approximately 89.91% of EOG Resources' stock, with notable increases in holdings from firms like GAMMA Investing LLC and Charles Schwab Investment Management.
• Analyst ratings for EOG Resources are mixed, with a consensus rating of Moderate Buy and an average price target of $143.48, while recent reports have shown a decrease in certain price estimates.

Pines Wealth Management LLC purchased a new position in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,260 shares of the energy exploration company's stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EOG. Banque Cantonale Vaudoise acquired a new stake in EOG Resources during the 1st quarter worth about $26,000. Saudi Central Bank acquired a new position in shares of EOG Resources in the 1st quarter valued at about $28,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources in the 1st quarter valued at about $34,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources in the 4th quarter valued at about $36,000. Finally, WPG Advisers LLC acquired a new position in shares of EOG Resources in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 89.91% of the company's stock.

EOG Resources Trading Down 2.2%

EOG traded down $2.58 during midday trading on Friday, reaching $115.74. 6,830,296 shares of the company were exchanged, compared to its average volume of 2,281,706. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock has a market capitalization of $63.19 billion, a P/E ratio of 11.25, a PEG ratio of 8.89 and a beta of 0.85. The stock's 50-day simple moving average is $119.43 and its 200 day simple moving average is $117.89.

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, beating analysts' consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 EPS. As a group, analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Insider Transactions at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction on Monday, June 30th. The stock was 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 directly owned 45,739 shares in the company, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an "overweight" rating on shares of EOG Resources in a report on Sunday, June 22nd. UBS Group upped their target price on EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. KeyCorp dropped their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Argus downgraded EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Barclays boosted their price target on EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.48.

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.