Rockland Trust Co. Purchases 9,473 Shares of EOG Resources, Inc. $EOG

Key Points

• Rockland Trust Co. increased its stake in EOG Resources, Inc. by 4.2% during the 2nd quarter, holding a total of 234,361 shares valued at approximately $28.03 million.
• The company reported $2.32 earnings per share for the last quarter, surpassing analysts’ expectations, although revenue decreased by 9.1% compared to the previous year.
• Several research analysts have set target prices for EOG Resources, with Barclays raising its target from $137 to $140, while maintaining an "equal weight" rating on the stock.

Rockland Trust Co. lifted its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,361 shares of the energy exploration company's stock after buying an additional 9,473 shares during the period. EOG Resources comprises 1.4% of Rockland Trust Co.'s holdings, making the stock its 25th largest position. Rockland Trust Co.'s holdings in EOG Resources were worth $28,032,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. StrongBox Wealth LLC boosted its stake in shares of EOG Resources by 1.9% during the 2nd quarter. StrongBox Wealth LLC now owns 4,817 shares of the energy exploration company's stock worth $576,000 after buying an additional 88 shares during the last quarter. Granite Harbor Advisors Inc. grew its holdings in EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after purchasing an additional 94 shares during the period. FSM Wealth Advisors LLC grew its holdings in EOG Resources by 6.2% during the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after purchasing an additional 95 shares during the period. Sigma Planning Corp grew its holdings in EOG Resources by 1.6% during the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after purchasing an additional 97 shares during the period. Finally, Bank of Jackson Hole Trust grew its holdings in EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after purchasing an additional 100 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

EOG stock traded down $0.48 during mid-day trading on Monday, hitting $115.52. 2,929,465 shares of the company were exchanged, compared to its average volume of 2,510,927. 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, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18. The business has a 50 day simple moving average of $119.29 and a 200-day simple moving average of $117.80. The stock has a market capitalization of $63.07 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 8.92 and a beta of 0.85.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share 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 during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total value 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. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Argus cut EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada reduced their price target on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Melius Research assumed coverage on EOG Resources in a report on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target for the company. Morgan Stanley set a $135.00 price target on EOG Resources and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, Barclays raised their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.48.

EOG Resources 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.