Grove Bank & Trust Lowers Holdings in EOG Resources, Inc. $EOG

Grove Bank & Trust decreased its holdings in EOG Resources, Inc. (NYSE:EOG) by 7.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,207 shares of the energy exploration company’s stock after selling 104 shares during the quarter. Grove Bank & Trust’s holdings in EOG Resources were worth $144,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Moody National Bank Trust Division raised its holdings in EOG Resources by 4.0% in the 2nd quarter. Moody National Bank Trust Division now owns 11,624 shares of the energy exploration company’s stock worth $1,390,000 after purchasing an additional 443 shares during the period. Global Financial Private Client LLC raised its holdings in shares of EOG Resources by 3.1% during the second quarter. Global Financial Private Client LLC now owns 6,813 shares of the energy exploration company’s stock valued at $815,000 after acquiring an additional 208 shares during the last quarter. Rockland Trust Co. raised its holdings in shares of EOG Resources by 4.2% during the second quarter. Rockland Trust Co. now owns 234,361 shares of the energy exploration company’s stock valued at $28,032,000 after acquiring an additional 9,473 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EOG Resources by 34.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 218,275 shares of the energy exploration company’s stock valued at $26,881,000 after acquiring an additional 55,672 shares during the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of EOG Resources by 15.2% during the second quarter. Wedmont Private Capital now owns 7,784 shares of the energy exploration company’s stock valued at $949,000 after acquiring an additional 1,029 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In other 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 transaction of $472,737.15. Following the sale, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

EOG has been the subject of a number of research analyst reports. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 target price for the company. Mizuho dropped their price target on EOG Resources from $140.00 to $133.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company restated an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Argus lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Morgan Stanley set a $135.00 price target on EOG Resources and gave the company an “equal weight” rating in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.48.

EOG Resources Trading Down 2.2%

Shares of NYSE EOG opened at $115.74 on Friday. The stock has a market capitalization of $63.19 billion, a PE ratio of 11.25, a PEG ratio of 9.06 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. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock has a fifty day simple moving average of $119.43 and a 200-day simple moving average of $117.92.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.45 billion. During the same period last year, the firm earned $3.16 earnings per share. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts forecast that EOG Resources, Inc. will post 11.47 earnings per share for the current year.

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.