Stack Financial Management Inc Cuts Stock Position in EOG Resources, Inc. $EOG

Key Points

• Stack Financial Management Inc reduced its stake in EOG Resources by 1.4%, leaving it with 200,582 shares worth approximately $23.99 million as of the latest filing.
• Analysts have mixed ratings on the stock, with one Strong Buy, ten Buy, and fourteen Hold ratings, and a consensus price target of $143.30.
• EOG Resources reported better-than-expected earnings of $2.32 per share for the last quarter, surpassing the consensus estimate by $0.18, despite a 9.1% decline in revenue year-over-year.

Stack Financial Management Inc trimmed its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,582 shares of the energy exploration company's stock after selling 2,753 shares during the period. EOG Resources comprises 2.1% of Stack Financial Management Inc's investment portfolio, making the stock its 17th largest position. Stack Financial Management Inc's holdings in EOG Resources were worth $23,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of EOG Resources during the first quarter worth approximately $26,000. Saudi Central Bank bought a new position in shares of EOG Resources during the 1st quarter valued at $28,000. Raleigh Capital Management Inc. purchased a new position in EOG Resources in the 2nd quarter worth $29,000. Alpine Bank Wealth Management bought a new stake in EOG Resources in the first quarter worth $34,000. Finally, ORG Partners LLC boosted its position in EOG Resources by 45.1% during the second quarter. ORG Partners LLC now owns 283 shares of the energy exploration company's stock valued at $34,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 89.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EOG. Wolfe Research decreased their price objective on EOG Resources from $139.00 to $138.00 and set an "outperform" rating on the stock in a report on Wednesday, October 1st. Stephens assumed coverage on EOG Resources in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $137.00 price target on the stock. 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. Raymond James Financial lifted their target price on shares of EOG Resources from $158.00 to $161.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of EOG Resources in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, EOG Resources has a consensus rating of "Hold" and an average price target of $143.30.

EOG Resources Price Performance

EOG opened at $108.14 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock has a market capitalization of $59.04 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 8.36 and a beta of 0.74. The stock's 50 day moving average price is $117.43 and its 200-day moving average price is $116.57. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18.

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 the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.16 earnings per share. On average, equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS 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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