Confluence Investment Management LLC Cuts Holdings in EOG Resources, Inc. $EOG

Confluence Investment Management LLC trimmed its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,460 shares of the energy exploration company’s stock after selling 2,886 shares during the period. Confluence Investment Management LLC’s holdings in EOG Resources were worth $21,704,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EOG. Granite Harbor Advisors Inc. increased its position in shares of EOG Resources by 3.2% during the first quarter. Granite Harbor Advisors Inc. now owns 3,034 shares of the energy exploration company’s stock worth $389,000 after acquiring an additional 94 shares during the last quarter. FSM Wealth Advisors LLC increased its position in shares of EOG Resources by 6.2% during the first quarter. FSM Wealth Advisors LLC now owns 1,623 shares of the energy exploration company’s stock worth $208,000 after acquiring an additional 95 shares during the last quarter. Sigma Planning Corp increased its position in shares of EOG Resources by 1.6% during the first quarter. Sigma Planning Corp now owns 6,259 shares of the energy exploration company’s stock worth $803,000 after acquiring an additional 97 shares during the last quarter. Bank of Jackson Hole Trust increased its position in shares of EOG Resources by 1.6% during the first quarter. Bank of Jackson Hole Trust now owns 6,234 shares of the energy exploration company’s stock worth $791,000 after acquiring an additional 100 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its position in shares of EOG Resources by 2.9% during the first quarter. Malaga Cove Capital LLC now owns 3,502 shares of the energy exploration company’s stock worth $449,000 after acquiring an additional 100 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Stock Performance

Shares of EOG stock opened at $118.20 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $119.80 and a two-hundred day moving average of $118.18. EOG Resources, Inc. has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a market cap of $64.54 billion, a P/E ratio of 11.49, a PEG ratio of 9.19 and a beta of 0.85.

EOG Resources (NYSE:EOG) last issued its earnings results 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 return on equity of 20.51% and a net margin of 25.25%.The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. EOG Resources’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analyst Upgrades and Downgrades

EOG has been the topic of a number of analyst reports. Raymond James Financial lifted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 22nd. KeyCorp lowered their price objective on EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Argus lowered EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, August 25th. UBS Group boosted their price objective on EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Melius assumed coverage on EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $143.52.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of EOG Resources stock in a transaction that occurred on 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 in the company, valued at $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

EOG Resources Company Profile

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.