EOG Resources, Inc. (NYSE:EOG) Position Increased by 1ST Source Bank
1ST Source Bank raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,106 shares of the energy exploration company’s stock after buying an additional 375 shares during the period. 1ST Source Bank’s holdings in EOG Resources were worth $553,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EOG. Puzo Michael J acquired a new position in EOG Resources during the second quarter worth about $515,000. ING Groep NV acquired a new position in EOG Resources during the second quarter worth about $1,906,000. LGT Capital Partners LTD. boosted its position in EOG Resources by 18.3% in the second quarter. LGT Capital Partners LTD. now owns 126,280 shares of the energy exploration company’s stock worth $11,431,000 after buying an additional 19,500 shares in the last quarter. Russell Investments Group Ltd. boosted its position in EOG Resources by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 1,331,917 shares of the energy exploration company’s stock worth $120,564,000 after buying an additional 49,324 shares in the last quarter. Finally, Cue Financial Group Inc. boosted its position in EOG Resources by 11.1% in the second quarter. Cue Financial Group Inc. now owns 13,274 shares of the energy exploration company’s stock worth $1,202,000 after buying an additional 1,324 shares in the last quarter. Hedge funds and other institutional investors own 85.14% of the company’s stock.
Shares of EOG Resources, Inc. (EOG) opened at 88.53 on Friday. The stock’s 50 day moving average price is $91.31 and its 200 day moving average price is $94.17. EOG Resources, Inc. has a 12-month low of $85.88 and a 12-month high of $109.37. The company’s market cap is $51.12 billion.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.02. EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the business posted ($0.38) EPS. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, analysts forecast that EOG Resources, Inc. will post $0.59 EPS for the current year.
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A number of research firms have issued reports on EOG. Barclays PLC reiterated an “overweight” rating and issued a $101.00 target price (up previously from $94.00) on shares of EOG Resources in a research report on Wednesday. Zacks Investment Research upgraded EOG Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BMO Capital Markets reiterated a “buy” rating and issued a $95.00 target price on shares of EOG Resources in a research report on Friday, August 4th. Scotiabank reiterated a “hold” rating and issued a $100.00 target price on shares of EOG Resources in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded EOG Resources from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. EOG Resources presently has a consensus rating of “Buy” and an average target price of $108.23.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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