Old North State Wealth Management LLC Acquires Shares of 1,776 EOG Resources, Inc. $EOG

Old North State Wealth Management LLC acquired a new stake in shares of EOG Resources, Inc. (NYSE:EOG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,776 shares of the energy exploration company’s stock, valued at approximately $213,000.

Several other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in shares of EOG Resources during the first quarter worth $26,000. Saudi Central Bank acquired a new position in shares of EOG Resources during the first quarter worth $28,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources during the first quarter worth $34,000. Ameriflex Group Inc. acquired a new position in shares of EOG Resources during the fourth quarter worth $36,000. Finally, WPG Advisers LLC acquired a new position in shares of EOG Resources during the first quarter worth $36,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

EOG Resources Stock Performance

Shares of EOG opened at $117.33 on Friday. 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 market capitalization of $64.06 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 8.96 and a beta of 0.85. The firm’s fifty day simple moving average is $119.13 and its two-hundred day simple moving average is $117.71. EOG Resources, Inc. has a 12 month low of $102.52 and a 12 month high of $138.18.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EOG. Stephens began coverage on shares of EOG Resources in a report on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price target for the company. Raymond James Financial upped their price target on shares of EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 22nd. KeyCorp lowered their price target on shares of EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Mizuho reduced their price objective on shares of EOG Resources from $140.00 to $133.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, Barclays boosted their price objective on shares of EOG Resources from $137.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $143.48.

Insider Buying and Selling

In other EOG Resources news, COO Jeffrey R. Leitzell sold 3,951 shares of the company’s stock in a transaction on Monday, June 30th. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

EOG Resources 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.