Bourne Lent Asset Management Inc. Purchases 500 Shares of EOG Resources, Inc. $EOG

Bourne Lent Asset Management Inc. lifted its stake in EOG Resources, Inc. (NYSE:EOG) by 15.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,751 shares of the energy exploration company’s stock after purchasing an additional 500 shares during the period. Bourne Lent Asset Management Inc.’s holdings in EOG Resources were worth $449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ARGA Investment Management LP raised its stake in EOG Resources by 24.2% during the 1st quarter. ARGA Investment Management LP now owns 13,441 shares of the energy exploration company’s stock worth $1,724,000 after buying an additional 2,616 shares during the period. CWA Asset Management Group LLC raised its stake in EOG Resources by 15.3% during the 1st quarter. CWA Asset Management Group LLC now owns 20,344 shares of the energy exploration company’s stock worth $2,609,000 after buying an additional 2,697 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in EOG Resources by 37.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 162,603 shares of the energy exploration company’s stock worth $20,852,000 after buying an additional 44,687 shares during the period. Canada Pension Plan Investment Board raised its stake in EOG Resources by 30.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,782 shares of the energy exploration company’s stock worth $25,107,000 after buying an additional 45,295 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in EOG Resources by 4.7% during the 1st quarter. Pinnacle Financial Partners Inc now owns 182,634 shares of the energy exploration company’s stock worth $23,032,000 after buying an additional 8,127 shares during the period. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Down 1.5%

Shares of NYSE:EOG opened at $118.20 on Monday. The company has a market capitalization of $64.54 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 9.05 and a beta of 0.85. EOG Resources, Inc. has a 52-week low of $102.52 and a 52-week high of $138.18. The company has a fifty day moving average of $119.80 and a 200-day moving average of $118.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

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

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $119.65, for a total value of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares of the company’s stock, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

EOG has been the topic of several research analyst reports. Roth Capital downgraded EOG Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $134.00 in a research note on Wednesday, July 9th. Barclays lifted their price target on EOG Resources from $137.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, June 2nd. Melius assumed coverage on EOG Resources in a research report on Wednesday, August 20th. They issued a “buy” rating and a $173.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of EOG Resources in a research report on Sunday, June 22nd. Finally, Piper Sandler lowered their target price on EOG Resources from $138.00 to $136.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.52.

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.