UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $375.27 Million Stock Position in EOG Resources, Inc. $EOG

Key Points

• UBS Asset Management increased its stake in EOG Resources by 2.7%, purchasing an additional 77,637 shares, bringing its total ownership to approximately 2.9 million shares worth $375.27 million.
• Several other institutional investors, including Banque Cantonale Vaudoise and Saudi Central Bank, also acquired new positions in EOG Resources during the first quarter, reflecting a strong institutional interest in the company.
• Analysts have varying price targets for EOG Resources, with UBS Group raising its target to $144.00, while Jefferies Financial Group increased its target to $148.00, indicating a consensus rating of "Moderate Buy" for the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,926,271 shares of the energy exploration company's stock after buying an additional 77,637 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.54% of EOG Resources worth $375,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EOG. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources during the first quarter worth $26,000. Saudi Central Bank acquired a new stake in shares of EOG Resources during the first quarter worth $28,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources in the first quarter worth $34,000. Ameriflex Group Inc. bought a new position in shares of EOG Resources in the fourth quarter worth $36,000. Finally, WPG Advisers LLC bought a new position in shares of EOG Resources in the first quarter worth $36,000. Institutional investors and hedge funds own 89.91% of the company's stock.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the sale, the chief operating officer directly owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EOG. UBS Group raised their price target on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Piper Sandler decreased their price target on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. KeyCorp decreased their price target on EOG Resources from $140.00 to $138.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Jefferies Financial Group restated a "buy" rating and issued a $148.00 price target (up previously from $144.00) on shares of EOG Resources in a research report on Friday, June 13th. Finally, Argus cut EOG Resources from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, EOG Resources presently has an average rating of "Moderate Buy" and a consensus target price of $143.52.

EOG Resources Stock Performance

NYSE:EOG opened at $120.17 on Thursday. The stock has a market cap of $65.61 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 8.98 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average is $120.01 and its 200-day moving average is $118.37. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

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 (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.EOG Resources's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the company earned $3.16 EPS. Equities research analysts anticipate 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.

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