Q2 2024 EPS Estimates for EOG Resources, Inc. (NYSE:EOG) Cut by Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share estimates for EOG Resources in a research note issued on Tuesday, June 25th. Zacks Research analyst U. Dutta now expects that the energy exploration company will earn $2.91 per share for the quarter, down from their prior estimate of $3.01. The consensus estimate for EOG Resources’ current full-year earnings is $12.02 per share. Zacks Research also issued estimates for EOG Resources’ Q1 2025 earnings at $3.22 EPS, Q2 2025 earnings at $3.19 EPS, Q3 2025 earnings at $3.22 EPS, FY2025 earnings at $12.68 EPS, Q1 2026 earnings at $2.72 EPS and FY2026 earnings at $11.55 EPS.

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

EOG has been the subject of several other research reports. Stifel Nicolaus decreased their price target 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. TD Cowen boosted their price objective on shares of EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Truist Financial lowered shares of EOG Resources from a “buy” rating to a “hold” rating and decreased their target price for the company from $163.00 to $136.00 in a research note on Thursday, May 16th. Finally, Morgan Stanley raised their price target on EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $143.19.

EOG Resources Trading Up 0.0 %

Shares of NYSE EOG opened at $124.60 on Friday. The company has a market cap of $71.61 billion, a PE ratio of 9.84, a P/E/G ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32. The firm’s 50 day moving average price is $126.56 and its 200-day moving average price is $122.32. EOG Resources has a 52-week low of $107.99 and a 52-week high of $139.67.

Hedge Funds Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of the business. McIlrath & Eck LLC lifted its holdings in shares of EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of EOG Resources by 530.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 212 shares during the last quarter. Sachetta LLC bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $33,000. Hall Laurie J Trustee bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $36,000. Finally, Keener Financial Planning LLC purchased a new stake in EOG Resources during the 4th quarter valued at $36,000. Institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling at EOG Resources

In other news, President Lloyd W. Helms, Jr. sold 1,296 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the transaction, the president now owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, President Lloyd W. Helms, Jr. sold 1,296 shares of EOG Resources stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the sale, the president now directly owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ezra Y. Yacob sold 4,729 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the transaction, the chief executive officer now directly owns 150,474 shares of the company’s stock, valued at $19,457,792.94. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock valued at $2,144,972 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $3.64 annualized dividend and a yield of 2.92%. EOG Resources’s payout ratio is 28.75%.

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.