SCS Capital Management LLC Takes $1.64 Million Position in EOG Resources, Inc. $EOG

SCS Capital Management LLC acquired a new stake in EOG Resources, Inc. (NYSE:EOG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,750 shares of the energy exploration company’s stock, valued at approximately $1,635,000.

A number of other hedge funds also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of EOG Resources by 2.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,926,271 shares of the energy exploration company’s stock valued at $375,265,000 after buying an additional 77,637 shares in the last quarter. Palogic Value Management L.P. raised its stake in shares of EOG Resources by 3.5% in the 1st quarter. Palogic Value Management L.P. now owns 4,809 shares of the energy exploration company’s stock valued at $617,000 after buying an additional 161 shares in the last quarter. Woodline Partners LP acquired a new position in shares of EOG Resources in the 1st quarter valued at $15,722,000. American Trust boosted its stake in shares of EOG Resources by 0.7% in the 1st quarter. American Trust now owns 30,162 shares of the energy exploration company’s stock valued at $3,868,000 after purchasing an additional 210 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of EOG Resources in the 1st quarter valued at $323,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Stock Performance

EOG Resources stock opened at $120.17 on Thursday. The stock has a 50-day simple moving average of $120.01 and a 200 day simple moving average of $118.37. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The stock has a market capitalization of $65.61 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 8.98 and a beta of 0.85.

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

Insider Activity

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 completion of the transaction, the chief operating officer directly owned 45,739 shares of the company’s stock, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EOG shares. Argus downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. Bank of America reduced their target price on shares of EOG Resources from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Melius started coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a “buy” rating and a $173.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of EOG Resources from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Finally, Raymond James Financial boosted their target price on shares of EOG Resources from $158.00 to $161.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently 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.