Bank Pictet & Cie Europe AG Sells 12,108 Shares of EOG Resources, Inc. $EOG

Bank Pictet & Cie Europe AG lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,121 shares of the energy exploration company’s stock after selling 12,108 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in EOG Resources were worth $19,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of EOG Resources in the first quarter valued at about $26,000. Saudi Central Bank acquired a new stake in shares of EOG Resources in the first quarter valued at about $28,000. Alpine Bank Wealth Management acquired a new stake in shares of EOG Resources in the first quarter valued at about $34,000. Ameriflex Group Inc. acquired a new stake in shares of EOG Resources in the fourth quarter valued at about $36,000. Finally, WPG Advisers LLC acquired a new stake in shares of EOG Resources in the first quarter valued at about $36,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Price Performance

EOG Resources stock opened at $117.33 on Friday. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18. The stock’s 50 day moving average is $119.13 and its 200-day moving average is $117.71. 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 company has a market capitalization of $64.06 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 8.96 and a beta of 0.85.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 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 company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.45 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EOG shares. Melius Research started coverage on EOG Resources in a research report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 target price on the stock. Argus downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 25th. Royal Bank Of Canada lowered their price target on EOG Resources from $145.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Stephens started coverage on EOG Resources in a research report on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price target on the stock. Finally, Roth Capital downgraded EOG Resources from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $134.00 in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.48.

Insider Activity at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the company’s 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 transaction, the chief operating officer owned 45,739 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% 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.