Zacks Research Analysts Cut Earnings Estimates for EOG Resources, Inc. (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Equities researchers at Zacks Research decreased their Q3 2024 earnings estimates for shares of EOG Resources in a research report issued to clients and investors on Tuesday, June 25th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will post earnings per share of $3.09 for the quarter, down from their prior forecast of $3.18. The consensus estimate for EOG Resources’ current full-year earnings is $12.02 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.88 EPS, FY2024 earnings at $11.70 EPS and Q4 2025 earnings at $3.04 EPS.

Several other brokerages have also recently weighed in on EOG. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. KeyCorp upped their target price on EOG Resources from $147.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Stifel Nicolaus dropped their price objective on EOG Resources from $153.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Mizuho increased their price objective on EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Bank of America restated a “buy” rating and set a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $143.19.

EOG Resources Trading Down 0.8 %

NYSE EOG opened at $124.58 on Thursday. EOG Resources has a one year low of $107.99 and a one year high of $139.67. The business’s fifty day moving average is $126.72 and its 200-day moving average is $122.31. The stock has a market capitalization of $71.60 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. EOG Resources’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.69 EPS.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently made changes to their positions in EOG. MUFG Securities EMEA plc purchased a new stake in EOG Resources in the fourth quarter valued at about $5,443,000. TIAA Trust National Association raised its stake in EOG Resources by 639.3% in the fourth quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock valued at $6,971,000 after buying an additional 49,840 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in EOG Resources by 15.3% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 46,468 shares of the energy exploration company’s stock valued at $5,620,000 after buying an additional 6,154 shares during the last quarter. L. Roy Papp & Associates LLP raised its stake in EOG Resources by 18.3% in the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock valued at $20,362,000 after buying an additional 26,026 shares during the last quarter. Finally, AIA Group Ltd raised its stake in EOG Resources by 128.0% in the fourth quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock valued at $1,234,000 after buying an additional 5,728 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total value of $611,506.99. Following the transaction, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ezra Y. Yacob sold 4,729 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the transaction, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the transaction, the chief operating officer now directly owns 39,054 shares in the company, valued at approximately $5,079,753.78. The disclosure for this sale can be found here. Insiders have sold 16,512 shares of company stock valued at $2,144,972 in the last quarter. 0.30% of the stock is owned by insiders.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

EOG Resources Company 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.