ZWJ Investment Counsel Inc. Buys 5,783 Shares of EOG Resources, Inc. $EOG

Key Points

• ZWJ Investment Counsel Inc. increased its stake in EOG Resources, Inc. by 11.8%, acquiring an additional 5,783 shares during the second quarter, bringing their total holdings to 54,619 shares valued at approximately $6.53 million.
• Several institutional investors have recently entered positions in EOG Resources, with institutional ownership now at 89.91% of the company's stock.
• As of the latest earnings report, EOG Resources reported an EPS of $2.32, exceeding analysts' expectations, despite a 9.1% year-over-year decline in quarterly revenue.

ZWJ Investment Counsel Inc. lifted its stake in EOG Resources, Inc. (NYSE:EOG - Free Report) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,619 shares of the energy exploration company's stock after buying an additional 5,783 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in EOG Resources were worth $6,533,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in EOG Resources during the 1st quarter valued at approximately $26,000. Saudi Central Bank bought a new stake in EOG Resources during the 1st quarter valued at approximately $28,000. Raleigh Capital Management Inc. bought a new stake in EOG Resources during the 2nd quarter valued at approximately $29,000. Alpine Bank Wealth Management bought a new stake in EOG Resources during the 1st quarter valued at approximately $34,000. Finally, WPG Advisers LLC bought a new stake in EOG Resources during the 1st quarter valued at approximately $36,000. Institutional investors own 89.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EOG shares. Stephens started coverage on EOG Resources in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $137.00 target price on the stock. Piper Sandler reduced their price objective on EOG Resources from $138.00 to $136.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. UBS Group lifted their price objective on EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price objective on EOG Resources from $132.00 to $131.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $130.00 price objective on shares of EOG Resources in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, EOG Resources presently has a consensus rating of "Hold" and a consensus target price of $143.14.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $110.66 on Friday. The stock has a market cap of $60.42 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 8.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock has a 50 day moving average price of $118.46 and a 200-day moving average price of $117.27. EOG Resources, Inc. has a one year low of $102.52 and a one 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, topping analysts' consensus estimates of $2.14 by $0.18. The firm had revenue of $5.48 billion during 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%.The company's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 EPS. Equities analysts expect 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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