Confluence Investment Management LLC Decreases Stock Holdings in EOG Resources, Inc. $EOG

Confluence Investment Management LLC decreased its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,361 shares of the energy exploration company’s stock after selling 11,314 shares during the period. Confluence Investment Management LLC’s holdings in EOG Resources were worth $20,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC bought a new position in shares of EOG Resources during the 4th quarter valued at $25,000. SJS Investment Consulting Inc. boosted its stake in shares of EOG Resources by 225.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in shares of EOG Resources in the 4th quarter worth $26,000. Nemes Rush Group LLC bought a new stake in shares of EOG Resources in the fourth quarter worth $30,000. Finally, Financial Life Planners bought a new stake in shares of EOG Resources in the first quarter worth $30,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Capital One Financial dropped their target price on EOG Resources from $161.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Wells Fargo & Company set a $196.00 price target on EOG Resources and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada upped their price target on shares of EOG Resources from $138.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $183.00 price objective on shares of EOG Resources in a research note on Monday. Finally, The Goldman Sachs Group dropped their price objective on shares of EOG Resources from $139.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.57.

EOG Resources Stock Down 2.0%

NYSE EOG opened at $145.69 on Tuesday. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26. The stock has a market cap of $77.60 billion, a PE ratio of 14.34 and a beta of 0.25. The stock’s 50 day moving average is $137.03 and its 200 day moving average is $131.72.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.23 by $0.18. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Research analysts predict that EOG Resources, Inc. will post 16.16 EPS for the current fiscal year.

EOG Resources Profile

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.