First Merchants Corp Has $7.24 Million Stake in EOG Resources, Inc. $EOG

First Merchants Corp trimmed its holdings in EOG Resources, Inc. (NYSE:EOG) by 4.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 60,558 shares of the energy exploration company’s stock after selling 2,531 shares during the period. First Merchants Corp’s holdings in EOG Resources were worth $7,243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Clear Creek Financial Management LLC lifted its holdings in EOG Resources by 2.5% during the 2nd quarter. Clear Creek Financial Management LLC now owns 6,997 shares of the energy exploration company’s stock worth $837,000 after purchasing an additional 171 shares during the last quarter. Hendley & Co. Inc. lifted its holdings in EOG Resources by 1.3% during the 2nd quarter. Hendley & Co. Inc. now owns 54,694 shares of the energy exploration company’s stock worth $6,542,000 after purchasing an additional 698 shares during the last quarter. Secured Retirement Advisors LLC acquired a new stake in EOG Resources during the 2nd quarter worth approximately $215,000. Sax Wealth Advisors LLC lifted its holdings in EOG Resources by 23.3% during the 2nd quarter. Sax Wealth Advisors LLC now owns 4,479 shares of the energy exploration company’s stock worth $536,000 after purchasing an additional 846 shares during the last quarter. Finally, Shell Asset Management Co. lifted its holdings in EOG Resources by 15.8% during the 2nd quarter. Shell Asset Management Co. now owns 33,611 shares of the energy exploration company’s stock worth $4,020,000 after purchasing an additional 4,586 shares during the last quarter. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Trading Up 0.0%

Shares of EOG stock opened at $110.49 on Thursday. The firm has a market capitalization of $60.33 billion, a P/E ratio of 10.74, a P/E/G ratio of 8.53 and a beta of 0.74. EOG Resources, Inc. has a twelve month low of $102.52 and a twelve month high of $138.18. The stock’s fifty day simple moving average is $117.77 and its 200 day simple moving average is $116.97. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12.

EOG Resources (NYSE:EOG) last announced its 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 firm had revenue of $5.48 billion for 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%.The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 EPS. As a group, sell-side analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on EOG shares. JPMorgan Chase & Co. dropped their price target on EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. KeyCorp dropped their price objective on EOG Resources from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Piper Sandler dropped their price objective on EOG Resources from $138.00 to $136.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Melius Research initiated coverage on EOG Resources in a report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 price objective for the company. Finally, UBS Group lifted their price objective on EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.43.

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.