Korea Investment CORP boosted its stake in EOG Resources, Inc. (NYSE:EOG) by 19.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,015,733 shares of the energy exploration company’s stock after buying an additional 162,629 shares during the period. Korea Investment CORP’s holdings in EOG Resources were worth $91,944,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new position in EOG Resources during the first quarter valued at approximately $556,000. First Citizens Bank & Trust Co. purchased a new position in EOG Resources during the first quarter valued at approximately $3,612,000. Morse Asset Management Inc purchased a new position in EOG Resources during the first quarter valued at approximately $5,899,000. Arosa Capital Management LP purchased a new position in EOG Resources during the first quarter valued at approximately $13,828,000. Finally, Schwab Charles Investment Management Inc. raised its position in EOG Resources by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,810,291 shares of the energy exploration company’s stock valued at $176,594,000 after buying an additional 31,630 shares in the last quarter. Institutional investors and hedge funds own 83.25% of the company’s stock.
EOG Resources, Inc. (NYSE EOG) opened at 84.09 on Friday. EOG Resources, Inc. has a 12 month low of $83.29 and a 12 month high of $109.37. The company has a 50-day moving average price of $90.89 and a 200 day moving average price of $93.54. The firm’s market cap is $48.56 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 consensus estimate of $0.10 by $0.02. EOG Resources had a negative net margin of 2.88% and a negative return on equity of 0.68%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted ($0.38) EPS. EOG Resources’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities research analysts anticipate that EOG Resources, Inc. will post $0.61 EPS for the current year.
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EOG has been the subject of several research analyst reports. FBR & Co set a $122.00 price target on EOG Resources and gave the stock an “outperform” rating in a research report on Wednesday, May 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 target price on shares of EOG Resources in a report on Friday, May 26th. Zacks Investment Research upgraded EOG Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $114.00 target price on shares of EOG Resources in a report on Wednesday, May 31st. Finally, BidaskClub upgraded EOG Resources from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $108.54.
In other EOG Resources news, EVP Lloyd W. Helms, Jr. sold 4,000 shares of the firm’s 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 owns 70,987 shares in the company, valued at $6,262,473.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.
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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