Teamwork Financial Advisors LLC Has $1.59 Million Holdings in EOG Resources, Inc. $EOG

Key Points

• Teamwork Financial Advisors LLC has increased its holdings in EOG Resources, Inc. by 238.8% in the second quarter, owning 13,295 shares valued at $1.59 million.
• Several institutional investors have made substantial increases in their positions, including Bank Pictet & Cie Europe AG, which boosted its stake by 56.3%, now holding shares worth approximately $30.45 million.
• EOG Resources reported quarterly earnings of $2.32 per share, surpassing analysts' expectations, but revenue was down 9.1% year-over-year.

Teamwork Financial Advisors LLC boosted its holdings in EOG Resources, Inc. (NYSE:EOG - Free Report) by 238.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,295 shares of the energy exploration company's stock after purchasing an additional 9,371 shares during the period. Teamwork Financial Advisors LLC's holdings in EOG Resources were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in EOG Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company's stock valued at $6,922,633,000 after purchasing an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company's stock valued at $2,485,402,000 after purchasing an additional 1,188,552 shares in the last quarter. Northern Trust Corp grew its position in EOG Resources by 6.3% in the first quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company's stock valued at $779,433,000 after purchasing an additional 358,916 shares in the last quarter. Alliancebernstein L.P. grew its position in EOG Resources by 3.9% in the first quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company's stock valued at $757,808,000 after purchasing an additional 223,294 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in EOG Resources by 1.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company's stock valued at $709,201,000 after purchasing an additional 60,454 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were 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 in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EOG shares. UBS Group raised their target price on shares of EOG Resources from $142.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Morgan Stanley set a $135.00 target price on shares of EOG Resources and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Bank of America decreased their price objective on shares of EOG Resources from $125.00 to $124.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Susquehanna lifted their price objective on shares of EOG Resources from $156.00 to $170.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $143.48.

EOG Resources Stock Performance

Shares of NYSE EOG traded down $2.47 during mid-day trading on Friday, reaching $115.85. 1,687,238 shares of the company were exchanged, compared to its average volume of 3,468,724. The company's 50-day simple moving average is $119.58 and its 200-day simple moving average is $117.97. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $63.25 billion, a P/E ratio of 11.25, a P/E/G ratio of 9.18 and a beta of 0.85. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during 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%. EOG Resources's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 EPS. As a group, 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.