Meritage Portfolio Management Trims Position in EOG Resources, Inc. $EOG

Meritage Portfolio Management lessened its holdings in shares of EOG Resources, Inc. (NYSE:EOG) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 70,091 shares of the energy exploration company’s stock after selling 1,002 shares during the quarter. Meritage Portfolio Management’s holdings in EOG Resources were worth $8,384,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EOG. Nuveen LLC purchased a new position in shares of EOG Resources during the 1st quarter worth $451,908,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $2,485,402,000 after buying an additional 1,188,552 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of EOG Resources during the 1st quarter worth $81,752,000. LSV Asset Management increased its holdings in shares of EOG Resources by 290.5% during the 1st quarter. LSV Asset Management now owns 687,446 shares of the energy exploration company’s stock worth $88,158,000 after buying an additional 511,418 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of EOG Resources during the 1st quarter worth $52,273,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Stock Down 3.4%

Shares of NYSE EOG opened at $108.14 on Friday. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a market cap of $59.04 billion, a P/E ratio of 10.51, a P/E/G ratio of 8.35 and a beta of 0.74. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $117.43 and a 200 day moving average price of $116.64.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.18. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period in the prior year, the firm earned $3.16 EPS. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts anticipate that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EOG shares. Mizuho dropped their price objective on EOG Resources from $140.00 to $133.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Susquehanna upped their price objective on EOG Resources from $156.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. Scotiabank restated a “sector perform” rating and set a $130.00 price objective on shares of EOG Resources in a report on Friday, September 26th. Wells Fargo & Company restated an “overweight” rating on shares of EOG Resources in a report on Sunday, June 22nd. Finally, Stephens started coverage on EOG Resources in a report on Tuesday, June 17th. They set an “equal weight” rating and a $137.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.