First Merchants Corp acquired a new position in shares of EOG Resources Inc. (NYSE:EOG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,641 shares of the energy exploration company’s stock, valued at approximately $637,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EOG. Capstone Asset Management Co. increased its position in EOG Resources by 0.7% in the first quarter. Capstone Asset Management Co. now owns 46,599 shares of the energy exploration company’s stock worth $3,382,000 after buying an additional 340 shares in the last quarter. Raymond James Trust N.A. increased its position in EOG Resources by 12.5% in the first quarter. Raymond James Trust N.A. now owns 13,855 shares of the energy exploration company’s stock worth $1,005,000 after buying an additional 1,534 shares in the last quarter. OLD National Bancorp IN increased its position in EOG Resources by 1.1% in the first quarter. OLD National Bancorp IN now owns 23,133 shares of the energy exploration company’s stock worth $1,679,000 after buying an additional 246 shares in the last quarter. IMS Capital Management increased its position in EOG Resources by 2.5% in the first quarter. IMS Capital Management now owns 10,506 shares of the energy exploration company’s stock worth $763,000 after buying an additional 252 shares in the last quarter. Finally, Hills Bank & Trust Co. increased its position in EOG Resources by 13.5% in the first quarter. Hills Bank & Trust Co. now owns 18,626 shares of the energy exploration company’s stock worth $1,352,000 after buying an additional 2,215 shares in the last quarter. 89.43% of the stock is owned by institutional investors.

Shares of EOG Resources Inc. (NYSE:EOG) traded up 3.45% on Wednesday, hitting $93.52. The stock had a trading volume of 3,189,143 shares. The firm has a 50 day moving average price of $90.54 and a 200-day moving average price of $82.29. The company’s market cap is $51.50 billion. EOG Resources Inc. has a 52 week low of $57.15 and a 52 week high of $95.93.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.57 billion. EOG Resources had a negative return on equity of 6.32% and a negative net margin of 72.18%. EOG Resources’s revenue for the quarter was down 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Analysts anticipate that EOG Resources Inc. will post ($1.67) EPS for the current year.

EOG has been the subject of a number of research analyst reports. Barclays PLC upped their price objective on shares of EOG Resources from $80.00 to $83.00 and gave the company an “overweight” rating in a research note 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 reiterated a “hold” rating on shares of EOG Resources in a report on Thursday, June 2nd. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of EOG Resources in a report on Wednesday, June 8th. Finally, Credit Agricole SA started coverage on EOG Resources in a report on Wednesday, June 22nd. They set an “underperform” rating for the company. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $91.96.

In related news, Director Frank G. Wisner sold 2,026 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $92.65, for a total value of $187,708.90. Following the sale, the director now owns 113,125 shares of the company’s stock, valued at approximately $10,481,031.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the business’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 sale, the executive vice president now directly owns 59,032 shares in the company, valued at approximately $4,829,998.24. The disclosure for this sale can be found here. 0.52% of the stock is 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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