Pittenger & Anderson Inc. Trims Holdings in EOG Resources, Inc. $EOG

Key Points

• Pittenger & Anderson Inc. reduced its holdings in EOG Resources, Inc. by 8.5%, owning 61,272 shares after selling 5,684 shares during the second quarter, valued at approximately $7,329,000.
• A significant majority of EOG Resources stock, 89.91%, is currently owned by hedge funds and institutional investors, with several firms increasing their positions in the first quarter.
• EOG Resources reported $2.32 earnings per share for the last quarter, exceeding analysts' expectations, while its revenue was slightly down 9.1% year-over-year at $5.48 billion.

Pittenger & Anderson Inc. cut its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,272 shares of the energy exploration company's stock after selling 5,684 shares during the quarter. Pittenger & Anderson Inc.'s holdings in EOG Resources were worth $7,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EOG. GAMMA Investing LLC grew its position in shares of EOG Resources by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 9,992 shares of the energy exploration company's stock worth $1,281,000 after buying an additional 1,383 shares during the period. Manning & Napier Advisors LLC grew its position in shares of EOG Resources by 34.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 71,383 shares of the energy exploration company's stock worth $9,154,000 after buying an additional 18,251 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in EOG Resources by 68.6% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,294 shares of the energy exploration company's stock valued at $2,090,000 after purchasing an additional 6,627 shares during the last quarter. JFS Wealth Advisors LLC grew its position in EOG Resources by 31.8% during the 1st quarter. JFS Wealth Advisors LLC now owns 472 shares of the energy exploration company's stock valued at $61,000 after purchasing an additional 114 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in EOG Resources by 4.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 83,527 shares of the energy exploration company's stock valued at $10,712,000 after purchasing an additional 3,311 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $106.38 on Tuesday. The firm's 50-day moving average price is $116.37 and its 200-day moving average price is $115.89. 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 market cap of $58.08 billion, a PE ratio of 10.34, a PEG ratio of 8.15 and a beta of 0.74. 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 announced its quarterly 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 firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.16 EPS. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James Financial increased their price objective on shares of EOG Resources from $158.00 to $161.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 22nd. Evercore ISI increased their price objective on shares of EOG Resources from $141.00 to $149.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Jefferies Financial Group set a $145.00 price objective on shares of EOG Resources in a research report on Sunday, October 12th. Mizuho cut their price objective on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Finally, Melius assumed coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $141.04.

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.

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