EOG Resources, Inc. $EOG Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,506 shares of the energy exploration company’s stock after selling 269 shares during the quarter. Goelzer Investment Management Inc.’s holdings in EOG Resources were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. ARGA Investment Management LP grew its position in shares of EOG Resources by 24.2% during the first quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company’s stock worth $1,724,000 after buying an additional 2,616 shares in the last quarter. CWA Asset Management Group LLC grew its position in shares of EOG Resources by 15.3% during the first quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company’s stock worth $2,609,000 after buying an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in EOG Resources by 37.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company’s stock worth $20,852,000 after purchasing an additional 44,687 shares during the period. Canada Pension Plan Investment Board boosted its holdings in EOG Resources by 30.1% in the first quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after purchasing an additional 45,295 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in EOG Resources by 4.7% in the first quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company’s stock worth $23,032,000 after purchasing an additional 8,127 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EOG shares. Piper Sandler decreased their price objective on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Argus downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, August 25th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. UBS Group lifted their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Stephens started coverage on shares of EOG Resources in a report on Tuesday, June 17th. They issued an “equal weight” rating and a $137.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and an average target price of $143.48.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares of the company’s stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $120.72 on Wednesday. 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 company’s 50-day moving average price is $119.69 and its two-hundred day moving average price is $117.97. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The stock has a market cap of $65.91 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 9.00 and a beta of 0.85.

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

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.