Fortis Capital Advisors LLC Sells 845 Shares of EOG Resources, Inc. $EOG

Fortis Capital Advisors LLC reduced its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 14.1% in the first quarter, Holdings Channel reports. The institutional investor owned 5,156 shares of the energy exploration company’s stock after selling 845 shares during the period. Fortis Capital Advisors LLC’s holdings in EOG Resources were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new position in shares of EOG Resources during the 1st quarter worth about $26,000. Saudi Central Bank bought a new position in shares of EOG Resources during the 1st quarter worth approximately $28,000. Alpine Bank Wealth Management bought a new position in shares of EOG Resources during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new position in EOG Resources during the 4th quarter valued at approximately $36,000. Finally, WPG Advisers LLC acquired a new position in EOG Resources during the 1st quarter valued at approximately $36,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

NYSE:EOG opened at $120.17 on Thursday. The firm has a market cap of $65.61 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 8.98 and a beta of 0.85. 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 is $120.01 and its two-hundred day moving average is $118.37. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the company posted $3.16 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the completion of the sale, the chief operating officer owned 45,739 shares of the company’s stock, valued at approximately $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EOG. Piper Sandler lowered their price target on shares of EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. KeyCorp lowered their target price on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Roth Capital lowered shares of EOG Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $134.00 in a research note on Wednesday, July 9th. Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a research note on Sunday, June 22nd. Finally, Stephens started coverage on shares of EOG Resources in a report on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price objective on the stock. One investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.52.

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.