BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in EOG Resources Inc (NYSE:EOG) by 24.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,787 shares of the energy exploration company’s stock after selling 48,071 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EOG Resources were worth $18,853,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new position in EOG Resources in the second quarter valued at approximately $812,000. Acadian Asset Management LLC purchased a new stake in shares of EOG Resources in the second quarter worth $401,000. Janney Montgomery Scott LLC grew its stake in shares of EOG Resources by 30.6% in the second quarter. Janney Montgomery Scott LLC now owns 14,150 shares of the energy exploration company’s stock worth $1,761,000 after acquiring an additional 3,319 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of EOG Resources by 12.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 54,687 shares of the energy exploration company’s stock worth $6,805,000 after acquiring an additional 5,847 shares during the last quarter. Finally, Bainco International Investors grew its stake in shares of EOG Resources by 0.5% in the second quarter. Bainco International Investors now owns 84,702 shares of the energy exploration company’s stock worth $10,539,000 after acquiring an additional 438 shares during the last quarter. 85.63% of the stock is owned by institutional investors.
In other news, EVP David W. Trice sold 2,489 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $127.44, for a total transaction of $317,198.16. Following the transaction, the executive vice president now directly owns 74,807 shares of the company’s stock, valued at $9,533,404.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles R. Crisp sold 1,792 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $116.80, for a total value of $209,305.60. Following the transaction, the director now directly owns 49,741 shares in the company, valued at $5,809,748.80. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, November 2nd. The energy exploration company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.19. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.20 billion. EOG Resources had a return on equity of 16.79% and a net margin of 30.90%. The company’s quarterly revenue was up 80.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. On average, research analysts predict that EOG Resources Inc will post 5.94 earnings per share for the current fiscal year.
EOG has been the topic of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $140.00 target price on shares of EOG Resources in a research note on Thursday, October 11th. Piper Jaffray Companies set a $138.00 target price on EOG Resources and gave the stock a “buy” rating in a research note on Sunday, September 30th. ValuEngine raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Zacks Investment Research raised EOG Resources from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Tuesday, October 16th. Finally, Barclays increased their target price on EOG Resources from $140.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, November 15th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $136.57.
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EOG Resources Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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