Deltec Asset Management LLC cut its stake in shares of EOG Resources Inc. (NYSE:EOG) by 28.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,500 shares of the energy exploration company’s stock after selling 3,000 shares during the period. Deltec Asset Management LLC’s holdings in EOG Resources were worth $626,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Shell Asset Management Co. boosted its position in EOG Resources by 23.3% in the second quarter. Shell Asset Management Co. now owns 121,069 shares of the energy exploration company’s stock valued at $10,100,000 after buying an additional 22,916 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of EOG Resources by 229,840.4% in the first quarter. Loomis Sayles & Co. L P now owns 119,569 shares of the energy exploration company’s stock worth $8,678,000 after buying an additional 119,517 shares during the last quarter. CenturyLink Investment Management Co bought a new position in shares of EOG Resources during the second quarter worth about $2,011,000. SevenBridge Financial Group LLC bought a new position in shares of EOG Resources during the first quarter worth about $743,000. Finally, JFS Wealth Advisors LLC bought a new position in shares of EOG Resources during the second quarter worth about $534,000. 89.43% of the stock is owned by hedge funds and other institutional investors.
Shares of EOG Resources Inc. (NYSE:EOG) traded up 3.45% during trading on Wednesday, hitting $93.52. The stock had a trading volume of 3,189,143 shares. The firm has a 50-day moving average of $90.54 and a 200 day moving average of $82.29. The company’s market capitalization is $51.50 billion. EOG Resources Inc. has a 1-year low of $57.15 and a 1-year high of $95.93.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, August 5th. The energy exploration company reported ($0.38) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. The company earned $1.78 billion during the quarter, compared to the consensus estimate of $1.57 billion. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. EOG Resources’s revenue for the quarter was down 28.1% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Equities research analysts predict that EOG Resources Inc. will post ($1.67) earnings per share for the current fiscal year.
EOG has been the subject of a number of recent research reports. Barclays PLC increased their target price on EOG Resources from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 24th. KLR Group cut EOG Resources from a “buy” rating to an “accumulate” rating and set a $90.00 target price for the company. in a report on Wednesday, May 25th. Credit Suisse Group AG reissued a “hold” rating on shares of EOG Resources in a report on Thursday, June 2nd. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of EOG Resources in a report on Wednesday, June 8th. Finally, Credit Agricole SA initiated coverage on EOG Resources in a report on Wednesday, June 22nd. They issued an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.96.
In other EOG Resources news, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $81.82, for a total value of $398,872.50. Following the completion of the transaction, the executive vice president now directly owns 59,032 shares of the company’s stock, valued at approximately $4,829,998.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank G. Wisner sold 2,026 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $92.65, for a total transaction of $187,708.90. Following the completion of the transaction, the director now directly owns 113,125 shares of the company’s stock, valued at $10,481,031.25. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
About EOG Resources
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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