EOG Resources, Inc. $EOG Stock: Rakuten Investment Management Inc. Grows Stake

Rakuten Investment Management Inc. increased its stake in EOG Resources, Inc. (NYSE:EOG) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,673 shares of the energy exploration company’s stock after acquiring an additional 7,379 shares during the period. Rakuten Investment Management Inc.’s holdings in EOG Resources were worth $13,222,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in EOG Resources in the second quarter worth about $5,905,587,000. Dimensional Fund Advisors LP lifted its position in shares of EOG Resources by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock valued at $848,228,000 after acquiring an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of EOG Resources by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 4,928,984 shares of the energy exploration company’s stock worth $712,583,000 after buying an additional 259,015 shares during the period. Bank of America Corp DE acquired a new stake in EOG Resources during the 2nd quarter worth about $551,321,000. Finally, First Trust Advisors LP grew its position in EOG Resources by 15.7% during the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after purchasing an additional 468,090 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EOG. Jefferies Financial Group restated a “buy” rating and issued a $185.00 target price on shares of EOG Resources in a research note on Saturday, October 3rd. Wells Fargo & Company reissued an “overweight” rating and issued a $193.00 target price (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Citigroup restated a “neutral” rating and set a $150.00 price target (up from $141.00) on shares of EOG Resources in a report on Thursday, August 27th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $138.00 price objective on shares of EOG Resources in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $161.24.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Yacob sold 35,942 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the sale, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at $36,876,797.10. This represents a 12.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Donaldson sold 7,336 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 in the last ninety days. 0.14% of the stock is currently owned by insiders.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $147.25 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $149.25 and a 200-day simple moving average of $137.42. The stock has a market capitalization of $77.24 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.55 and a beta of 0.27. EOG Resources, Inc. has a 1-year low of $101.59 and a 1-year high of $165.93.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period last year, the business posted $2.32 earnings per share. The firm’s revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts expect that EOG Resources, Inc. will post 17.70 earnings per share for the current year.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.