Public Employees Retirement System of Ohio Cuts Stock Position in EOG Resources, Inc. $EOG

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in EOG Resources, Inc. by 2.3%, now holding 252,364 shares worth approximately $30.2 million.
• Analysts have mixed ratings on EOG, with UBS raising their price target to $144.00 while Roth Capital downgraded it to $134.00, resulting in an average target of $143.48.
• In insider activity, COO Jeffrey R. Leitzell sold 3,951 shares at about $119.65, decreasing his ownership by 7.95%.

Public Employees Retirement System of Ohio decreased its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,364 shares of the energy exploration company's stock after selling 5,825 shares during the quarter. Public Employees Retirement System of Ohio's holdings in EOG Resources were worth $30,185,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. ARGA Investment Management LP grew its holdings in shares of 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. CWA Asset Management Group LLC grew its holdings in shares of EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company's stock worth $2,609,000 after buying an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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. Canada Pension Plan Investment Board grew its holdings in shares of EOG Resources by 30.1% during the first quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company's stock worth $25,107,000 after buying an additional 45,295 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of 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. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Wells Fargo & Company reissued an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Royal Bank Of Canada lowered their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, Susquehanna boosted their price target on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. One investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $143.48.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the sale, 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 sale was disclosed in a document filed 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 Trading Up 0.9%

NYSE EOG opened at $116.76 on Thursday. The firm's 50-day moving average is $119.16 and its two-hundred day moving average is $117.77. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock has a market capitalization of $63.75 billion, a P/E ratio of 11.35, a PEG ratio of 8.88 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 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current 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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