Sumitomo Mitsui DS Asset Management Company Ltd Sells 11,012 Shares of EOG Resources, Inc. $EOG

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has reduced its stake in EOG Resources, Inc. by 8.8%, selling 11,012 shares during the 2nd quarter, now holding 114,089 shares valued at approximately $13.65 million.
• Despite the stake reduction, institutional investors own 89.91% of EOG Resources, reflecting strong institutional interest in the company.
• EOG Resources reported earnings of $2.32 per share for the last quarter, surpassing analysts' expectations, but experienced a 9.1% decrease in quarterly revenue year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,089 shares of the energy exploration company's stock after selling 11,012 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in EOG Resources were worth $13,646,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Sivia Capital Partners LLC bought a new position in EOG Resources in the 2nd quarter valued at about $258,000. Radnor Capital Management LLC grew its position in shares of EOG Resources by 2.7% during the 2nd quarter. Radnor Capital Management LLC now owns 8,560 shares of the energy exploration company's stock worth $1,024,000 after purchasing an additional 225 shares in the last quarter. Pines Wealth Management LLC acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $278,000. Pallas Capital Advisors LLC grew its position in shares of EOG Resources by 38.2% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,446 shares of the energy exploration company's stock worth $532,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of EOG Resources by 44.5% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,661 shares of the energy exploration company's stock worth $1,275,000 after acquiring an additional 3,284 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $118.29 on Friday. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The firm has a fifty day simple moving average of $119.58 and a 200 day simple moving average of $117.97. The company has a market capitalization of $64.59 billion, a PE ratio of 11.50, a P/E/G ratio of 9.18 and a beta of 0.85. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. EOG Resources's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 earnings per share. On average, sell-side analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current year.

Wall Street Analysts Forecast Growth

EOG has been the subject of several research reports. Melius Research initiated coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective for the company. KeyCorp dropped their price target on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Bank of America dropped their price target on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Stephens began coverage on shares of EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.48.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction 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. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

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.

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