S Bank Fund Management Ltd Cuts Position in EOG Resources, Inc. $EOG

Key Points

• S Bank Fund Management Ltd has reduced its stake in EOG Resources, Inc. by 13.5% during the second quarter, now holding 24,000 shares valued at approximately $2.87 million.
• Several large investors have recently acquired new stakes in EOG Resources, with institutional investors collectively owning 89.91% of the company’s stock.
• Following recent earnings, EOG reported $2.32 earnings per share, surpassing estimates, while its quarterly revenue decreased 9.1% compared to the previous year.

S Bank Fund Management Ltd decreased its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,000 shares of the energy exploration company's stock after selling 3,735 shares during the quarter. S Bank Fund Management Ltd's holdings in EOG Resources were worth $2,871,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in EOG Resources in the first quarter valued at $26,000. Saudi Central Bank acquired a new stake in EOG Resources in the first quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new stake in EOG Resources in the second quarter valued at $29,000. Alpine Bank Wealth Management acquired a new stake in EOG Resources in the first quarter valued at $34,000. Finally, WPG Advisers LLC acquired a new stake in EOG Resources in the first quarter valued at $36,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several research reports. Scotiabank reissued a "sector perform" rating and issued a $130.00 target price on shares of EOG Resources in a report on Friday, September 26th. Evercore ISI increased 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. 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 research note on Tuesday. Royal Bank Of Canada increased their price objective on EOG Resources from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has a consensus rating of "Hold" and a consensus target price of $143.35.

EOG Resources Stock Performance

NYSE EOG opened at $108.65 on Thursday. The business's 50-day moving average price is $116.95 and its 200 day moving average price is $116.35. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The company has a market capitalization of $59.32 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 8.48 and a beta of 0.74. 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 released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 20.51% and a net margin of 25.25%.The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 earnings per share. On average, research analysts predict 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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