Bridges Investment Management Inc. Sells 700 Shares of EOG Resources, Inc. $EOG

Bridges Investment Management Inc. lowered its stake in EOG Resources, Inc. (NYSE:EOG) by 0.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 366,794 shares of the energy exploration company’s stock after selling 700 shares during the quarter. Bridges Investment Management Inc.’s holdings in EOG Resources were worth $43,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Davidson Investment Advisors raised its stake in shares of EOG Resources by 1.2% in the second quarter. Davidson Investment Advisors now owns 172,238 shares of the energy exploration company’s stock worth $20,601,000 after buying an additional 2,055 shares during the period. Nexus Investment Management ULC raised its stake in shares of EOG Resources by 0.4% in the second quarter. Nexus Investment Management ULC now owns 207,658 shares of the energy exploration company’s stock worth $24,838,000 after buying an additional 900 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of EOG Resources by 10.5% in the second quarter. Rosenberg Matthew Hamilton now owns 3,188 shares of the energy exploration company’s stock worth $381,000 after buying an additional 304 shares during the period. Mutual Advisors LLC raised its stake in shares of EOG Resources by 6.5% in the second quarter. Mutual Advisors LLC now owns 2,646 shares of the energy exploration company’s stock worth $313,000 after buying an additional 161 shares during the period. Finally, Ritholtz Wealth Management raised its stake in shares of EOG Resources by 55.5% in the second quarter. Ritholtz Wealth Management now owns 19,954 shares of the energy exploration company’s stock worth $2,387,000 after buying an additional 7,118 shares during the period. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EOG. Susquehanna lifted their target price on EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Argus downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. Piper Sandler decreased their target price on EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Melius began coverage on EOG Resources in a research note on Wednesday, August 20th. They set a “buy” rating and a $173.00 target price on the stock. Finally, Mizuho decreased their target price on EOG Resources from $140.00 to $133.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $143.35.

EOG Resources Stock Performance

NYSE EOG opened at $108.65 on Thursday. The stock has a market capitalization of $59.32 billion, a PE ratio of 10.56, a P/E/G ratio of 8.48 and a beta of 0.74. The business has a 50 day simple moving average of $116.95 and a two-hundred day simple moving average of $116.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61. EOG Resources, Inc. has a 1-year low of $102.52 and a 1-year high of $138.18.

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, beating the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.45 billion. EOG Resources had a return on equity of 20.51% and a net margin of 25.25%.The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 EPS. On average, research analysts predict that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

EOG Resources Profile

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.