State of Michigan Retirement System Buys 6,500 Shares of EOG Resources, Inc. $EOG

State of Michigan Retirement System raised its stake in EOG Resources, Inc. (NYSE:EOG) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,052 shares of the energy exploration company’s stock after purchasing an additional 6,500 shares during the period. State of Michigan Retirement System’s holdings in EOG Resources were worth $19,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EOG. Mutual Advisors LLC bought a new stake in EOG Resources in the first quarter valued at $319,000. OneDigital Investment Advisors LLC increased its stake in EOG Resources by 15.4% in the first quarter. OneDigital Investment Advisors LLC now owns 8,504 shares of the energy exploration company’s stock valued at $1,091,000 after purchasing an additional 1,138 shares in the last quarter. Wayfinding Financial LLC bought a new stake in EOG Resources in the first quarter valued at $141,000. World Investment Advisors increased its stake in EOG Resources by 25.0% in the first quarter. World Investment Advisors now owns 8,044 shares of the energy exploration company’s stock valued at $1,031,000 after purchasing an additional 1,610 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of EOG Resources by 56.3% during the first quarter. HM Payson & Co. now owns 530 shares of the energy exploration company’s stock valued at $68,000 after buying an additional 191 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EOG. Piper Sandler set a $129.00 price objective on shares of EOG Resources and gave the company a “neutral” rating in a report on Tuesday, October 21st. Evercore ISI lifted their price objective on shares of EOG Resources from $141.00 to $149.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Wolfe Research reduced their price objective on shares of EOG Resources from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Siebert Williams Shank reduced their price objective on shares of EOG Resources from $155.00 to $145.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of EOG Resources from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $140.76.

EOG Resources Stock Up 0.4%

EOG Resources stock opened at $105.85 on Monday. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The stock has a market cap of $57.79 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 8.20 and a beta of 0.74. The firm’s 50-day simple moving average is $114.13 and its 200 day simple moving average is $115.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

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 the consensus estimate of $2.14 by $0.18. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. Research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

About EOG Resources

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.