Praxis Investment Management Inc. Has $3.97 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Praxis Investment Management Inc. increased its stake in EOG Resources by 19.7% in the second quarter, bringing its total holding to approximately $3.97 million in value.
• A variety of institutional investors have also increased their holdings in EOG, with significant boosts from ARGA Investment Management LP (24.2%) and Canada Pension Plan Investment Board (30.1%).
• Wall Street analysts project an average price target of $143.35 for EOG Resources, with one analyst rating it as a Strong Buy and several issuing Buy and Hold recommendations.

Praxis Investment Management Inc. grew its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,170 shares of the energy exploration company's stock after purchasing an additional 5,470 shares during the period. Praxis Investment Management Inc.'s holdings in EOG Resources were worth $3,967,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ARGA Investment Management LP grew its position in EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company's stock worth $1,724,000 after buying an additional 2,616 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock worth $25,107,000 after purchasing an additional 45,295 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after purchasing an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in EOG Resources by 37.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company's stock worth $20,852,000 after buying an additional 44,687 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in EOG Resources by 4.7% during the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company's stock worth $23,032,000 after buying an additional 8,127 shares in the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EOG. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley decreased their price objective on EOG Resources from $141.00 to $136.00 and set an "equal weight" rating on the stock in a report on Tuesday. Barclays set a $136.00 price objective on EOG Resources and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Evercore ISI upped their price objective on EOG Resources from $141.00 to $149.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. Finally, Susquehanna boosted their price target on EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $143.35.

EOG Resources Stock Down 1.3%

Shares of EOG opened at $107.23 on Friday. The company has a market capitalization of $58.55 billion, a P/E ratio of 10.42, a PEG ratio of 8.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The business's 50 day simple moving average is $116.78 and its 200-day simple moving average is $116.20.

EOG Resources (NYSE:EOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The company 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%.The business's revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.16 earnings per share. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

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.

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