Oceanic Investment Management Ltd Lowers stake in EOG Resources Inc (EOG)

EOG Resources Inc (EOG) : Oceanic Investment Management Ltd reduced its stake in EOG Resources Inc by 17.55% during the most recent quarter end. The investment management company now holds a total of 228,300 shares of EOG Resources Inc which is valued at $18,805,071 after selling 48,600 shares in EOG Resources Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.EOG Resources Inc makes up approximately 9.44% of Oceanic Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Dean Investment Associates reduced its stake in EOG by selling 362 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 47,556 shares of EOG which is valued at $3,917,188. EOG Resources Inc makes up approx 0.74% of Dean Investment Associates’s portfolio.Smith Asset Management Group Lp reduced its stake in EOG by selling 54,620 shares or 99.71% in the most recent quarter. The Hedge Fund company now holds 160 shares of EOG which is valued at $12,765.Corbyn Investment Management Incmd reduced its stake in EOG by selling 26,085 shares or 24.06% in the most recent quarter. The Hedge Fund company now holds 82,318 shares of EOG which is valued at $6,852,974. EOG Resources Inc makes up approx 2.14% of Corbyn Investment Management Incmd’s portfolio.Cue Financial Group reduced its stake in EOG by selling 125 shares or 0.81% in the most recent quarter. The Hedge Fund company now holds 15,295 shares of EOG which is valued at $1,282,333. EOG Resources Inc makes up approx 1.07% of Cue Financial Group’s portfolio.Mazama Capital Management Inc boosted its stake in EOG in the latest quarter, The investment management firm added 36,826 additional shares and now holds a total of 54,424 shares of EOG Resources Inc which is valued at $4,492,157. EOG Resources Inc makes up approx 0.88% of Mazama Capital Management Inc’s portfolio.

EOG Resources Inc opened for trading at $90.97 and hit $92 on the upside on Monday, eventually ending the session at $90.66, with a gain of 0.55% or 0.5 points. The heightened volatility saw the trading volume jump to 45,06,052 shares. Company has a market cap of $49,921 M.

On the company’s financial health, EOG Resources Inc reported $-0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.48. The company had revenue of $1775.70 million for the quarter, compared to analysts expectations of $1523.75 million. The company’s revenue was down -28.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on EOG Resources Inc. Company shares were Upgraded by Wunderlich on Aug 8, 2016 to ” Buy”, Firm has raised the Price Target to $ 104 from a previous price target of $79 .Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 95 from a previous price target of $88 .EOG Resources Inc was Downgraded by Tudor Pickering to ” Hold” on Jul 15, 2016.

EOG Resources Inc. (EOG) is engaged in the exploration development production and marketing of crude oil and natural gas. The Company operates in producing basins in the United States Canada The Republic of Trinidad and Tobago (Trinidad) the United Kingdom The People’s Republic of China (China) and the Argentine Republic (Argentina) among others. As of December 31 2014 EOG’s total estimated net proved reserves were 2497 million barrels of oil equivalent (MMBoe) of which 1140 million barrels (MMBbl) are crude oil and condensate reserves 467 MMBbl are natural gas liquids (NGLs) reserves and 5343 billion cubic feet or 890 MMBoe are natural gas reserves. As of December 31 2014 approximately 97% of the Company’s net proved reserves on a crude oil equivalent basis are located in the United States and 3% in Trinidad. Its operations are focused in the basins in the United States with a focus on crude oil.

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