Moneta Group Investment Advisors LLC bought a new stake in EOG Resources Inc (NYSE:EOG) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 28,247 shares of the energy exploration company’s stock, valued at approximately $668,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in EOG Resources by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 14,661,614 shares of the energy exploration company’s stock worth $1,365,875,000 after acquiring an additional 98,651 shares during the period. Northern Trust Corp lifted its holdings in EOG Resources by 1.6% during the second quarter. Northern Trust Corp now owns 8,046,730 shares of the energy exploration company’s stock valued at $749,634,000 after purchasing an additional 129,766 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EOG Resources by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 6,797,414 shares of the energy exploration company’s stock valued at $591,653,000 after purchasing an additional 486,443 shares during the period. Neuberger Berman Group LLC grew its position in shares of EOG Resources by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 6,031,278 shares of the energy exploration company’s stock valued at $574,057,000 after purchasing an additional 213,352 shares during the period. Finally, Findlay Park Partners LLP grew its position in shares of EOG Resources by 19.0% in the second quarter. Findlay Park Partners LLP now owns 3,495,785 shares of the energy exploration company’s stock valued at $325,667,000 after purchasing an additional 557,147 shares during the period. 86.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on EOG shares. TheStreet downgraded shares of EOG Resources from a “b-” rating to a “c” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price target on shares of EOG Resources from $109.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Co lifted their price objective on EOG Resources from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Guggenheim set a $108.00 price objective on EOG Resources and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Goldman Sachs Group raised EOG Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $114.09.
EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.02). The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.41 billion. EOG Resources had a return on equity of 16.25% and a net margin of 19.69%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. As a group, equities analysts forecast that EOG Resources Inc will post 5 EPS for the current fiscal year.
EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.
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