Woodline Partners LP Acquires Shares of 122,600 EOG Resources, Inc. $EOG

Key Points

• Woodline Partners LP has acquired a new stake in EOG Resources, Inc., purchasing 122,600 shares valued at approximately $15.7 million.
• Insider trading activity reported that COO Jeffrey R. Leitzell sold 3,951 shares of EOG at an average price of $119.65, reducing his ownership by 7.95%.
• Analysts have varied opinions on EOG, with UBS raising their target price to $144.00 while Argus downgraded its rating from a "buy" to a "hold".

Woodline Partners LP acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 122,600 shares of the energy exploration company's stock, valued at approximately $15,722,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EOG. Granite Harbor Advisors Inc. raised its stake in shares of EOG Resources by 3.2% during the 1st quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company's stock worth $389,000 after buying an additional 94 shares in the last quarter. FSM Wealth Advisors LLC raised its stake in shares of EOG Resources by 6.2% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company's stock worth $208,000 after buying an additional 95 shares in the last quarter. Sigma Planning Corp raised its stake in shares of EOG Resources by 1.6% during the 1st quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company's stock worth $803,000 after buying an additional 97 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of EOG Resources by 1.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company's stock worth $791,000 after buying an additional 100 shares in the last quarter. Finally, Malaga Cove Capital LLC raised its stake in shares of EOG Resources by 2.9% during the 1st quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company's stock worth $449,000 after buying an additional 100 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's 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 sale, the chief operating officer owned 45,739 shares in the company, valued at $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 available through this link. Company insiders own 0.13% of the company's stock.

EOG Resources Stock Performance

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 P/E/G ratio of 8.98 and a beta of 0.85. 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 stock's 50 day simple moving average is $120.01 and its 200 day simple 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 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.18. The firm had revenue of $5.48 billion for 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%.EOG Resources's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.16 EPS. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Argus downgraded EOG Resources from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Morgan Stanley set a $135.00 target price on EOG Resources and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. KeyCorp cut their target price on EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Finally, 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 report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.52.

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.

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