Rakuten Investment Management Inc. Buys 7,379 Shares of EOG Resources, Inc. $EOG

Rakuten Investment Management Inc. increased its position in shares of EOG Resources, Inc. (NYSE:EOG) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,673 shares of the energy exploration company’s stock after purchasing an additional 7,379 shares during the quarter. Rakuten Investment Management Inc.’s holdings in EOG Resources were worth $13,222,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EOG. BlackRock Inc. bought a new stake in EOG Resources during the second quarter worth about $5,905,587,000. Dimensional Fund Advisors LP increased its holdings in shares of EOG Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,865,073 shares of the energy exploration company’s stock worth $848,228,000 after buying an additional 54,091 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of EOG Resources during the second quarter worth approximately $654,899,000. Bank of America Corp DE bought a new position in shares of EOG Resources in the second quarter valued at approximately $551,321,000. Finally, First Trust Advisors LP raised its stake in shares of EOG Resources by 15.7% in the first quarter. First Trust Advisors LP now owns 3,446,002 shares of the energy exploration company’s stock valued at $498,189,000 after acquiring an additional 468,090 shares during the last quarter. 89.91% of the stock is owned by institutional investors.

EOG Resources Stock Down 5.1%

NYSE EOG opened at $147.25 on Thursday. The stock has a market capitalization of $77.24 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.27. EOG Resources, Inc. has a 52 week low of $101.59 and a 52 week high of $165.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The stock has a fifty day moving average of $149.25 and a 200-day moving average of $137.42.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The firm had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the previous year, the business posted $2.32 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts forecast that EOG Resources, Inc. will post 17.70 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EOG shares. Freedom Capital lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $193.00 price objective (down from $196.00) on shares of EOG Resources in a research report on Thursday, August 13th. UBS Group reissued a “buy” rating and issued a $186.00 price objective (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. Zacks Research raised EOG Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Finally, Seaport Research Partners assumed coverage on EOG Resources in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $161.24.

Insider Buying and Selling at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 9,039 shares of EOG Resources stock in a transaction on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the sale, the chief operating officer directly owned 90,790 shares of the company’s stock, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is currently owned by insiders.

EOG Resources Company Profile

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.