Moran Wealth Management LLC Reduces Stake in EOG Resources, Inc. $EOG

Moran Wealth Management LLC cut its position in shares of EOG Resources, Inc. (NYSE:EOG) by 3.9% during the second quarter, Holdings Channel.com reports. The firm owned 271,414 shares of the energy exploration company’s stock after selling 10,891 shares during the quarter. EOG Resources makes up approximately 1.0% of Moran Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Moran Wealth Management LLC’s holdings in EOG Resources were worth $32,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in EOG Resources in the first quarter worth approximately $26,000. Saudi Central Bank acquired a new position in shares of EOG Resources in the 1st quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new position in shares of EOG Resources in the 2nd quarter valued at $29,000. Alpine Bank Wealth Management acquired a new position in shares of EOG Resources in the 1st quarter valued at $34,000. Finally, ORG Partners LLC raised its holdings in EOG Resources by 45.1% in the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock valued at $34,000 after buying an additional 88 shares during the period. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Price Performance

Shares of NYSE EOG opened at $109.63 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79. The stock’s 50-day simple moving average is $117.28 and its 200-day simple moving average is $116.45. The firm has a market capitalization of $59.86 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 8.36 and a beta of 0.74. EOG Resources, Inc. has a fifty-two week low of $102.52 and a fifty-two week high of $138.18.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.18. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.16 earnings per share. As a group, equities research analysts forecast that EOG Resources, Inc. will post 11.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Melius began coverage on shares of EOG Resources in a research report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. KeyCorp decreased their price target on EOG Resources from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Jefferies Financial Group set a $145.00 price target on EOG Resources in a research note on Sunday. Finally, Susquehanna boosted their price objective on EOG Resources from $156.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. One 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 stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average target price of $143.30.

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.