Norway Savings Bank Buys 726 Shares of EOG Resources, Inc. $EOG

Norway Savings Bank raised its position in shares of EOG Resources, Inc. (NYSE:EOG) by 7.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,872 shares of the energy exploration company’s stock after purchasing an additional 726 shares during the quarter. Norway Savings Bank’s holdings in EOG Resources were worth $1,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of EOG Resources in the 1st quarter worth about $26,000. Saudi Central Bank purchased a new position in EOG Resources during the first quarter valued at approximately $28,000. Alpine Bank Wealth Management purchased a new position in EOG Resources during the first quarter valued at approximately $34,000. WPG Advisers LLC bought a new stake in shares of EOG Resources during the first quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. bought a new stake in EOG Resources in the fourth quarter worth $36,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $118.20 on Friday. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. 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 stock has a 50 day moving average of $119.80 and a two-hundred day moving average of $118.18. The stock has a market cap of $64.54 billion, a P/E ratio of 11.49, a P/E/G ratio of 9.19 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 EPS for the quarter, topping the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.16 earnings per share. On average, research analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $148.00 target price (up from $144.00) on shares of EOG Resources in a research note on Friday, June 13th. Melius Research initiated coverage on shares of EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price target on the stock. Raymond James Financial upped their price objective 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. Stephens started coverage on EOG Resources in a research report on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 target price on the stock. Finally, Roth Capital lowered EOG Resources from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $134.00 in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, EOG Resources 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.