Banque Pictet & Cie SA Trims Stake in EOG Resources, Inc. $EOG

Banque Pictet & Cie SA cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 180,127 shares of the energy exploration company’s stock after selling 5,022 shares during the period. Banque Pictet & Cie SA’s holdings in EOG Resources were worth $21,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in EOG Resources by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 53,981,854 shares of the energy exploration company’s stock valued at $6,922,633,000 after acquiring an additional 348,895 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,380,866 shares of the energy exploration company’s stock valued at $2,485,402,000 after acquiring an additional 1,188,552 shares during the last quarter. Northern Trust Corp raised its stake in EOG Resources by 6.3% during the 1st quarter. Northern Trust Corp now owns 6,077,928 shares of the energy exploration company’s stock valued at $779,433,000 after acquiring an additional 358,916 shares during the last quarter. Alliancebernstein L.P. raised its stake in EOG Resources by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 5,909,297 shares of the energy exploration company’s stock valued at $757,808,000 after acquiring an additional 223,294 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in EOG Resources by 1.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,530,260 shares of the energy exploration company’s stock valued at $709,201,000 after acquiring an additional 60,454 shares during the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EOG. Morgan Stanley set a $135.00 price objective on EOG Resources and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Melius Research started coverage on EOG Resources in a research report on Wednesday, August 20th. They set a “buy” rating and a $173.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Raymond James Financial boosted their target price on EOG Resources from $158.00 to $161.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 22nd. Finally, KeyCorp dropped their target price 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, eleven have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.48.

EOG Resources Stock Performance

EOG opened at $117.33 on Friday. The stock has a market cap of $64.06 billion, a P/E ratio of 11.40, a P/E/G ratio of 8.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $119.13 and its 200 day simple moving average is $117.71. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

EOG Resources (NYSE:EOG) last released its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping 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 return on equity of 20.51% and a net margin of 25.25%.The company’s 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 EPS. As a group, equities analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Insider Buying and Selling at EOG Resources

In related 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 sale, the chief operating officer owned 45,739 shares in the company, valued at $5,472,671.35. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.