Pinnacle Associates Ltd. Increases Stock Position in EOG Resources, Inc. (NYSE:EOG)

Pinnacle Associates Ltd. raised its holdings in EOG Resources, Inc. (NYSE:EOG) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,889 shares of the energy exploration company’s stock after purchasing an additional 113 shares during the quarter. Pinnacle Associates Ltd.’s holdings in EOG Resources were worth $4,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cape ANN Savings Bank lifted its position in shares of EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after acquiring an additional 79 shares during the period. Wright Investors Service Inc. lifted its position in shares of EOG Resources by 0.8% during the 1st quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock valued at $1,299,000 after acquiring an additional 80 shares during the period. CVA Family Office LLC lifted its position in shares of EOG Resources by 11.0% during the 2nd quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock valued at $103,000 after acquiring an additional 81 shares during the period. Bailard Inc. lifted its position in shares of EOG Resources by 0.4% during the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock valued at $2,505,000 after acquiring an additional 81 shares during the period. Finally, Everpar Advisors LLC lifted its position in shares of EOG Resources by 3.6% during the 3rd quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Up 1.2 %

Shares of NYSE EOG opened at $121.99 on Friday. EOG Resources, Inc. has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a fifty day moving average of $125.58 and a 200-day moving average of $126.38. The stock has a market capitalization of $70.11 billion, a PE ratio of 9.64, a P/E/G ratio of 3.26 and a beta of 1.28. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same period in the previous year, the company earned $2.49 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that EOG Resources, Inc. will post 11.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EOG shares. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. UBS Group cut their price objective on EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial cut their price objective on EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.20.

Insider Buying and Selling

In related news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at approximately $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

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.