Waycross Partners LLC Purchases 4,729 Shares of EOG Resources, Inc. $EOG

Key Points

• Waycross Partners LLC increased its stake in EOG Resources by 3.8%, now holding a total of 129,244 shares valued at approximately $15.5 million.
• Approximately 89.91% of EOG Resources' stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• EOG Resources reported a net margin of 25.25% for the latest quarter, with earnings of $2.32 per share, exceeding analysts' expectations of $2.14.

Waycross Partners LLC raised its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,244 shares of the energy exploration company's stock after purchasing an additional 4,729 shares during the period. EOG Resources accounts for approximately 1.5% of Waycross Partners LLC's investment portfolio, making the stock its 28th biggest position. Waycross Partners LLC's holdings in EOG Resources were worth $15,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $2,485,402,000 after acquiring an additional 1,188,552 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 worth $779,433,000 after acquiring an additional 358,916 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of 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 worth $757,808,000 after acquiring an additional 223,294 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 worth $709,201,000 after acquiring an additional 60,454 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the business's stock in a transaction dated 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 approximately $5,472,671.35. The trade was a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EOG shares. Mizuho dropped their price objective on shares of EOG Resources from $140.00 to $133.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Melius began 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. 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 note on Wednesday, July 23rd. Roth Capital downgraded shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price target for the company from $140.00 to $134.00 in a research report on Wednesday, July 9th. Finally, Argus downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One equities 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, EOG Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.48.

EOG Resources Trading Up 0.2%

NYSE EOG opened at $115.61 on Wednesday. The stock has a market capitalization of $63.12 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 8.87 and a beta of 0.85. EOG Resources, Inc. has a one year low of $102.52 and a one year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The business's fifty day moving average is $119.20 and its 200-day moving average is $117.78.

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 return on equity of 20.51% and a net margin of 25.25%.The company had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.45 billion. During the same period in the previous year, the business posted $3.16 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. Equities research analysts predict that EOG Resources, Inc. will post 11.47 EPS 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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