Swedbank AB Buys 9,813 Shares of EOG Resources, Inc. $EOG

Key Points

• Swedbank AB increased its position in EOG Resources by 2.7%, owning approximately 373,834 shares valued at $44.71 million after acquiring an additional 9,813 shares in the second quarter.
• EOG Resources reported earnings of $2.32 per share for the last quarter, surpassing estimates, but its revenue fell by 9.1% year-over-year to $5.48 billion.
• Analysts have a consensus rating of "Moderate Buy" for EOG Resources, with an average price target of $143.48, indicating a positive outlook for the stock.

Swedbank AB raised its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 373,834 shares of the energy exploration company's stock after purchasing an additional 9,813 shares during the quarter. Swedbank AB owned about 0.07% of EOG Resources worth $44,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Banque Cantonale Vaudoise bought a new stake in shares of EOG Resources during the 1st quarter worth $26,000. Saudi Central Bank bought a new stake in shares of EOG Resources during the 1st quarter worth $28,000. Alpine Bank Wealth Management bought a new stake in shares of EOG Resources during the 1st quarter worth $34,000. Ameriflex Group Inc. bought a new stake in shares of EOG Resources during the 4th quarter worth $36,000. Finally, WPG Advisers LLC bought a new stake in shares of EOG Resources during the 1st quarter worth $36,000. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Argus lowered EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Royal Bank Of Canada reduced their price objective on EOG Resources from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research report on Sunday, June 22nd. Finally, KeyCorp decreased their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. 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 company. According to data from MarketBeat, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $143.48.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction on Monday, June 30th. The stock was sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

EOG Resources Stock Up 0.0%

Shares of NYSE:EOG traded up $0.02 during midday trading on Monday, hitting $116.02. 1,416,592 shares of the stock were exchanged, compared to its average volume of 3,485,836. The company has a market capitalization of $63.35 billion, a PE ratio of 11.28, a P/E/G ratio of 8.92 and a beta of 0.85. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. 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 business's fifty day simple moving average is $119.43 and its two-hundred day simple moving average is $117.86.

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

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.