Point72 Europe London LLP Invests $14.26 Million in EOG Resources, Inc. $EOG

Key Points

• Point72 Europe London LLP has purchased a new position in EOG Resources, acquiring 111,211 shares valued at approximately $14.3 million during the first quarter.
• EOG Resources reported an EPS of $2.32 for the last quarter, exceeding the consensus estimate of $2.14, despite a year-over-year revenue decline of 9.1%.
• 89.91% of EOG Resources' stock is currently owned by hedge funds and institutional investors, highlighting strong interest in the company among large investors.

Point72 Europe London LLP acquired a new stake in EOG Resources, Inc. (NYSE:EOG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 111,211 shares of the energy exploration company's stock, valued at approximately $14,262,000.

Several other institutional investors have also bought and sold shares of the company. Granite Harbor Advisors Inc. lifted its stake in EOG Resources by 3.2% in the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock valued at $389,000 after purchasing an additional 94 shares during the last quarter. FSM Wealth Advisors LLC lifted its stake in EOG Resources by 6.2% in the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock valued at $208,000 after purchasing an additional 95 shares during the last quarter. Sigma Planning Corp lifted its stake in EOG Resources by 1.6% in the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock valued at $803,000 after purchasing an additional 97 shares during the last quarter. Bank of Jackson Hole Trust lifted its stake in EOG Resources by 1.6% in the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock valued at $791,000 after purchasing an additional 100 shares during the last quarter. Finally, Malaga Cove Capital LLC lifted its stake in EOG Resources by 2.9% in the first quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock valued at $449,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company's stock.

EOG Resources Trading Up 0.8%

Shares of NYSE:EOG traded up $1.01 on Thursday, reaching $121.59. 1,688,995 shares of the company traded hands, compared to its average volume of 3,533,548. The business's 50-day simple moving average is $120.23 and its 200 day simple moving average is $118.84. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a market capitalization of $66.39 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 9.56 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data 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. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same period last year, the firm earned $3.16 earnings per share. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays increased their target price on EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Susquehanna upped their price target on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Bank of America decreased their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Argus cut shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. 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 stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $143.52.

Insider Activity

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