William Blair Investment Management LLC Cuts Stake in EOG Resources, Inc. (EOG)
William Blair Investment Management LLC cut its position in EOG Resources, Inc. (NYSE:EOG) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 281,256 shares of the energy exploration company’s stock after selling 5,210 shares during the period. William Blair Investment Management LLC’s holdings in EOG Resources were worth $25,459,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Waldron LP boosted its position in shares of EOG Resources by 81.7% in the first quarter. Waldron LP now owns 4,522 shares of the energy exploration company’s stock worth $431,000 after buying an additional 2,033 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of EOG Resources by 30.8% in the first quarter. Glen Harbor Capital Management LLC now owns 6,256 shares of the energy exploration company’s stock worth $610,000 after buying an additional 1,472 shares during the last quarter. Northeast Investment Management boosted its position in shares of EOG Resources by 1.1% in the first quarter. Northeast Investment Management now owns 16,654 shares of the energy exploration company’s stock worth $1,625,000 after buying an additional 179 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of EOG Resources by 10.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 117,400 shares of the energy exploration company’s stock worth $11,452,000 after buying an additional 10,800 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of EOG Resources by 26.3% in the first quarter. Russell Investments Group Ltd. now owns 1,282,593 shares of the energy exploration company’s stock worth $125,109,000 after buying an additional 267,442 shares during the last quarter. 85.47% of the stock is currently owned by institutional investors.
Shares of EOG Resources, Inc. (EOG) opened at 83.15 on Wednesday. EOG Resources, Inc. has a 1-year low of $81.99 and a 1-year high of $109.37. The stock has a 50 day moving average price of $90.04 and a 200 day moving average price of $92.96. The company’s market capitalization is $48.01 billion.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Tuesday, August 1st. The energy exploration company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.51 billion. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.38) earnings per share. Analysts forecast that EOG Resources, Inc. will post $0.61 earnings per share for the current year.
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A number of equities analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $111.00 target price on shares of EOG Resources in a report on Friday, May 26th. Scotiabank restated a “hold” rating and issued a $109.00 target price on shares of EOG Resources in a report on Tuesday, May 16th. Credit Suisse Group set a $108.00 target price on EOG Resources and gave the stock a “hold” rating in a report on Friday, June 2nd. Barclays PLC restated an “overweight” rating and issued a $101.00 target price (up from $94.00) on shares of EOG Resources in a report on Thursday, August 3rd. Finally, Wells Fargo & Company upgraded EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $108.08.
In other EOG Resources news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $88.22, for a total value of $352,880.00. Following the sale, the executive vice president now directly owns 70,987 shares in the company, valued at approximately $6,262,473.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.
About EOG Resources
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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