Shell Asset Management Co. has increased its stake in EOG Resources, Inc. (NYSE:EOG) by 15.8% during the second quarter, acquiring an additional 4,586 shares. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the institutional investor now holds a total of 33,611 shares, valued at approximately $4.02 million.
This move reflects a broader trend among large investors in the energy sector. Other notable investors have also adjusted their positions in EOG Resources. For instance, Hennion & Walsh Asset Management Inc. established a new stake worth around $242,000 in the first quarter. UMB Bank n.a. increased its holdings by 4.6%, bringing its total to 9,375 shares valued at $1.2 million. Similarly, Miracle Mile Advisors LLC raised its stake by 19.0%, now owning 10,727 shares worth $1.38 million.
Daymark Wealth Partners LLC and Farther Finance Advisors LLC also reported increases in their investments during the first quarter, with stakes worth $1.8 million and $536,000, respectively. Collectively, institutional investors own approximately 89.91% of EOG Resources’ stock.
Analyst Ratings and Market Performance
Recent analyst assessments indicate a positive outlook for EOG Resources. Jefferies Financial Group reaffirmed a “buy” rating, raising its price target from $144.00 to $148.00. In contrast, Argus downgraded its rating from “buy” to “hold.” Susquehanna raised its target price from $156.00 to $170.00, reflecting confidence in the company’s future performance.
As of the latest trading session, EOG Resources opened at $110.36. The stock has shown notable volatility over the past year, with a low of $102.52 and a high of $138.18. The company has a market capitalization of $60.25 billion, a price-to-earnings ratio of 10.72, and a P/E/G ratio of 8.48. Its performance indicators include a current ratio of 1.79 and a debt-to-equity ratio of 0.12.
Quarterly Earnings Report
EOG Resources recently announced its quarterly earnings results, revealing earnings per share (EPS) of $2.32, surpassing the consensus estimate of $2.14 by $0.18. The company reported a net margin of 25.25% and a return on equity of 20.51%. Revenue for the quarter totaled $5.48 billion, slightly exceeding the expected $5.45 billion, although this figure represents a decrease of 9.1% compared to the same quarter last year.
Analysts predict that EOG Resources will report an EPS of $11.47 for the current fiscal year, highlighting the company’s ongoing impact in the energy exploration sector.
EOG Resources, Inc. operates primarily in the exploration, development, production, and marketing of crude oil and natural gas. The company, formerly known as Enron Oil & Gas Company, has significant operations in the United States and internationally, including the Republic of Trinidad and Tobago.
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