Truist Financial Corp Has $22.58 Million Stake in EOG Resources, Inc. $EOG

Key Points

• Truist Financial Corp increased its stake in EOG Resources by 36.7% in the second quarter, now owning 188,783 shares valued at approximately $22.58 million.
• Institutional investors hold 89.91% of EOG Resources' stock, indicating strong institutional backing with significant purchases from firms like Vanguard and Charles Schwab.
• EOG Resources reported $2.32 EPS for the latest quarter, exceeding analysts' expectations, despite a 9.1% decline in revenue year-over-year.

Truist Financial Corp raised its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 36.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,783 shares of the energy exploration company's stock after buying an additional 50,645 shares during the period. Truist Financial Corp's holdings in EOG Resources were worth $22,580,000 as of its most recent filing with the Securities and Exchange Commission.

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

EOG Resources Price Performance

EOG opened at $110.66 on Friday. The company has a fifty day moving average price of $118.46 and a two-hundred day moving average price of $117.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The firm has a market capitalization of $60.42 billion, a PE ratio of 10.75, a P/E/G ratio of 8.48 and a beta of 0.74.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on EOG shares. Roth Capital cut shares of EOG Resources from a "buy" rating to a "neutral" rating and decreased their price target for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada decreased their price target on shares of EOG Resources from $145.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Scotiabank reissued a "sector perform" rating and set a $130.00 price target on shares of EOG Resources in a research note on Friday, September 26th. Weiss Ratings reissued a "hold (c)" rating on shares of EOG Resources in a research note on Saturday, September 27th. Finally, Melius Research started coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They set a "buy" rating and a $173.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, EOG Resources has an average rating of "Hold" and a consensus price target of $143.14.

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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