PNC Financial Services Group Inc. Decreases Stake in EOG Resources, Inc. (NYSE:EOG)
PNC Financial Services Group Inc. cut its position in EOG Resources, Inc. (NYSE:EOG) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 406,602 shares of the energy exploration company’s stock after selling 10,646 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of EOG Resources worth $39,664,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Laurion Capital Management LP acquired a new stake in shares of EOG Resources during the first quarter worth about $368,000. Strategic Global Advisors LLC bought a new position in shares of EOG Resources during the first quarter worth approximately $311,000. Israel Discount Bank of New York bought a new position in shares of EOG Resources during the first quarter worth approximately $556,000. Stephens Inc. AR raised its position in shares of EOG Resources by 4.9% in the first quarter. Stephens Inc. AR now owns 50,021 shares of the energy exploration company’s stock worth $4,880,000 after buying an additional 2,346 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. raised its position in shares of EOG Resources by 34.7% in the first quarter. Waratah Capital Advisors Ltd. now owns 45,422 shares of the energy exploration company’s stock worth $4,431,000 after buying an additional 11,712 shares in the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.
EOG Resources, Inc. (EOG) traded down 3.70% on Thursday, reaching $88.90. 6,297,339 shares of the company were exchanged. The company’s 50-day moving average price is $90.89 and its 200-day moving average price is $94.81. The stock’s market capitalization is $51.34 billion. EOG Resources, Inc. has a 12-month low of $79.67 and a 12-month high of $109.37.
EOG Resources (NYSE:EOG) last posted its earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. EOG Resources had a negative return on equity of 0.69% and a negative net margin of 2.88%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company earned ($0.38) EPS. The business’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts anticipate that EOG Resources, Inc. will post $0.63 earnings per share for the current fiscal year.
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Several brokerages have weighed in on EOG. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price objective on shares of EOG Resources in a research note on Friday, May 26th. Scotiabank reaffirmed a “hold” rating and set a $109.00 price objective on shares of EOG Resources in a research note on Tuesday, May 16th. Credit Suisse Group set a $108.00 price objective on shares of EOG Resources and gave the stock a “hold” rating in a research note on Friday, June 2nd. Barclays PLC upped their price objective on shares of EOG Resources from $94.00 to $101.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company raised shares of EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $108.81.
EOG Resources Company Profile
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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