EOG Resources, Inc. (NYSE:EOG) released its quarterly 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, Bloomberg Earnings reports. 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 period in the prior year, the business earned ($0.38) EPS. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year.
EOG Resources (EOG) traded down 0.66% during midday trading on Friday, hitting $88.53. 2,874,157 shares of the stock were exchanged. EOG Resources has a 1-year low of $85.88 and a 1-year high of $109.37. The firm’s market capitalization is $51.12 billion. The firm’s 50-day moving average price is $91.31 and its 200 day moving average price is $94.17.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Veritable L.P. increased its position in EOG Resources by 1.6% in the second quarter. Veritable L.P. now owns 50,247 shares of the energy exploration company’s stock valued at $4,548,000 after buying an additional 812 shares during the period. Spears Abacus Advisors LLC increased its position in EOG Resources by 58.4% in the second quarter. Spears Abacus Advisors LLC now owns 4,070 shares of the energy exploration company’s stock valued at $368,000 after buying an additional 1,500 shares during the period. Bancorpsouth Inc. increased its position in EOG Resources by 5.5% in the second quarter. Bancorpsouth Inc. now owns 2,709 shares of the energy exploration company’s stock valued at $245,000 after buying an additional 141 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in EOG Resources by 1.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 312,118 shares of the energy exploration company’s stock valued at $28,253,000 after buying an additional 5,165 shares during the period. Finally, Massey Quick & Co. LLC acquired a new position in EOG Resources during the second quarter valued at approximately $326,000. 85.14% of the stock is owned by institutional investors.
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EOG has been the topic of several recent research reports. Royal Bank Of Canada reissued a “hold” rating and issued a $109.00 price target on shares of EOG Resources in a research note on Tuesday, April 25th. BMO Capital Markets reissued a “buy” rating on shares of EOG Resources in a research note on Tuesday, May 9th. Wells Fargo & Company raised EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Wednesday, May 10th. Raymond James Financial, Inc. raised EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Wednesday, May 10th. Finally, Barclays PLC lifted their target price on EOG Resources from $111.00 to $113.00 and gave the company an “overweight” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $108.23.
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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