Nordea Investment Management AB Decreases Stake in EOG Resources, Inc. $EOG

Nordea Investment Management AB lowered its position in EOG Resources, Inc. (NYSE:EOG) by 3.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,611 shares of the energy exploration company’s stock after selling 1,598 shares during the period. Nordea Investment Management AB’s holdings in EOG Resources were worth $4,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EOG. Banque Cantonale Vaudoise purchased a new position in EOG Resources in the 1st quarter valued at $26,000. Saudi Central Bank purchased a new position in shares of EOG Resources during the 1st quarter worth $28,000. Raleigh Capital Management Inc. purchased a new position in shares of EOG Resources during the 2nd quarter worth $29,000. Alpine Bank Wealth Management purchased a new position in shares of EOG Resources during the 1st quarter worth $34,000. Finally, ORG Partners LLC raised its holdings in shares of EOG Resources by 45.1% during the 2nd quarter. ORG Partners LLC now owns 283 shares of the energy exploration company’s stock worth $34,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

EOG has been the topic of several analyst reports. Melius Research initiated coverage on EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price target on the stock. Royal Bank Of Canada lifted their price target on EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Barclays set a $136.00 price target on EOG Resources and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Melius initiated coverage on EOG Resources in a report on Wednesday, August 20th. They set a “buy” rating and a $173.00 price target on the stock. Finally, Scotiabank reiterated a “sector perform” rating and set a $130.00 price target on shares of EOG Resources in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $140.76.

EOG Resources Stock Down 0.3%

Shares of NYSE:EOG opened at $106.07 on Wednesday. The business has a 50-day moving average price of $116.13 and a 200 day moving average price of $115.82. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $57.91 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 8.16 and a beta of 0.74. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18.

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

About EOG Resources

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.