First Mercantile Trust Co Lowers stake in EOG Resources Inc (EOG)

EOG Resources Inc (EOG) : First Mercantile Trust Co reduced its stake in EOG Resources Inc by 20.09% during the most recent quarter end. The investment management company now holds a total of 52,079 shares of EOG Resources Inc which is valued at $4,749,605 after selling 13,093 shares in EOG Resources Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.EOG Resources Inc makes up approximately 0.56% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advantus Capital Management Inc boosted its stake in EOG in the latest quarter, The investment management firm added 708 additional shares and now holds a total of 54,105 shares of EOG Resources Inc which is valued at $4,934,376. EOG Resources Inc makes up approx 0.14% of Advantus Capital Management Inc’s portfolio.Gulf International Bank (uk) Ltd boosted its stake in EOG in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 165,693 shares of EOG Resources Inc which is valued at $13,891,701. EOG Resources Inc makes up approx 0.23% of Gulf International Bank (uk) Ltd’s portfolio.

EOG Resources Inc opened for trading at $91.17 and hit $91.935 on the upside on Friday, eventually ending the session at $91.76, with a gain of 0.03% or 0.03 points. The heightened volatility saw the trading volume jump to 23,38,553 shares. Company has a market cap of $50,527 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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