Hennessy Advisors Inc. Has $2.99 Million Stock Position in EOG Resources, Inc. $EOG

Hennessy Advisors Inc. reduced its stake in EOG Resources, Inc. (NYSE:EOG) by 1.2% during the 2nd quarter, Holdings Channel reports. The firm owned 25,030 shares of the energy exploration company’s stock after selling 300 shares during the period. Hennessy Advisors Inc.’s holdings in EOG Resources were worth $2,994,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in EOG Resources during the first quarter worth about $26,000. Saudi Central Bank acquired a new stake in shares of EOG Resources in the 1st quarter valued at approximately $28,000. Raleigh Capital Management Inc. bought a new position in EOG Resources during the 2nd quarter worth approximately $29,000. Alpine Bank Wealth Management bought a new position in EOG Resources during the 1st quarter worth approximately $34,000. Finally, WPG Advisers LLC acquired a new position in EOG Resources during the first quarter valued at approximately $36,000. 89.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EOG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of EOG Resources in a report on Saturday, September 27th. UBS Group raised their price objective on EOG Resources from $142.00 to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced their target price on EOG Resources from $132.00 to $131.00 and set a “neutral” rating on the stock in a report on Wednesday. Raymond James Financial increased their price target on EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 22nd. Finally, KeyCorp dropped their price target on EOG Resources from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $143.14.

EOG Resources Stock Performance

EOG opened at $110.66 on Friday. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 8.51 and a beta of 0.74. The business’s 50-day moving average price is $118.46 and its two-hundred day moving average price is $117.21. EOG Resources, Inc. has a 1 year low of $102.52 and a 1 year high of $138.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.EOG Resources’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the company earned $3.16 earnings per share. Equities analysts expect that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

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.