Coerente Capital Management Raises Holdings in EOG Resources, Inc. $EOG

Coerente Capital Management increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,571 shares of the energy exploration company’s stock after purchasing an additional 2,206 shares during the quarter. EOG Resources makes up approximately 2.8% of Coerente Capital Management’s investment portfolio, making the stock its 18th largest position. Coerente Capital Management’s holdings in EOG Resources were worth $15,020,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of EOG Resources by 0.7% during the first quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock worth $6,922,633,000 after purchasing an additional 348,895 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in EOG Resources by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock valued at $2,485,402,000 after buying an additional 1,188,552 shares in the last quarter. Northern Trust Corp grew its holdings in EOG Resources by 6.3% in the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after buying an additional 358,916 shares in the last quarter. Alliancebernstein L.P. grew its holdings in EOG Resources by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company’s stock valued at $757,808,000 after buying an additional 223,294 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in EOG Resources by 1.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company’s stock valued at $709,201,000 after buying an additional 60,454 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

EOG Resources Price Performance

EOG opened at $111.84 on Friday. The stock’s 50-day moving average price is $117.60 and its 200 day moving average price is $116.86. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $61.06 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 8.54 and a beta of 0.74.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the prior year, the company earned $3.16 EPS. EOG Resources’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts expect that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EOG shares. Piper Sandler dropped their target price on EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Mizuho dropped their target price on EOG Resources from $140.00 to $133.00 and set a “neutral” rating for the company in a report on Monday, September 15th. JPMorgan Chase & Co. dropped their target price on EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company restated an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. Finally, Melius assumed coverage on EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $143.43.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.