FY2024 EPS Estimates for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Zacks Research dropped their FY2024 earnings estimates for shares of EOG Resources in a research report issued on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings of $11.21 per share for the year, down from their previous estimate of $11.27. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.51 EPS, Q3 2025 earnings at $2.71 EPS and Q4 2026 earnings at $3.13 EPS.

A number of other equities research analysts also recently weighed in on EOG. JPMorgan Chase & Co. lowered their price target on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Raymond James increased their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Citigroup lifted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $150.00 price objective on shares of EOG Resources in a research note on Monday. Finally, Mizuho decreased their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Thirteen investment 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.com, EOG Resources has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Trading Up 0.6 %

Shares of NYSE EOG opened at $128.31 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $127.76 and its two-hundred day moving average price is $126.64. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The stock has a market capitalization of $72.17 billion, a P/E ratio of 10.33, a PEG ratio of 3.37 and a beta of 1.29.

Institutional Trading of EOG Resources

Several institutional investors and hedge funds have recently bought and sold shares of EOG. Douglas Lane & Associates LLC raised its holdings in shares of EOG Resources by 2.1% during the fourth quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock valued at $62,699,000 after acquiring an additional 10,404 shares during the period. Fulton Bank N.A. raised its stake in EOG Resources by 25.6% during the 4th quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock valued at $646,000 after purchasing an additional 1,073 shares during the period. Norway Savings Bank lifted its holdings in shares of EOG Resources by 5.1% in the fourth quarter. Norway Savings Bank now owns 8,373 shares of the energy exploration company’s stock valued at $1,026,000 after purchasing an additional 410 shares in the last quarter. Fortem Financial Group LLC boosted its position in shares of EOG Resources by 1.8% in the fourth quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock worth $1,132,000 after buying an additional 164 shares during the period. Finally, CWA Asset Management Group LLC grew its holdings in shares of EOG Resources by 108.3% during the fourth quarter. CWA Asset Management Group LLC now owns 17,647 shares of the energy exploration company’s stock valued at $2,163,000 after buying an additional 9,175 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares of the company’s stock, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

EOG Resources announced that its board has approved a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 3.04%. EOG Resources’s dividend payout ratio (DPR) is 29.31%.

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.