Capital One Financial Comments on EOG Resources, Inc.’s Q3 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Capital One Financial reduced their Q3 2024 EPS estimates for shares of EOG Resources in a research report issued to clients and investors on Wednesday, October 9th. Capital One Financial analyst P. Johnston now anticipates that the energy exploration company will post earnings per share of $2.75 for the quarter, down from their previous estimate of $2.83. The consensus estimate for EOG Resources’ current full-year earnings is $11.83 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.64 EPS, FY2024 earnings at $11.37 EPS, Q2 2025 earnings at $2.57 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $2.72 EPS and FY2026 earnings at $11.81 EPS.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 earnings per share.

Several other analysts also recently weighed in on the company. Scotiabank lowered their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday. Sanford C. Bernstein lowered their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Piper Sandler lowered their price objective on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Wolfe Research initiated coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and a consensus target price of $141.65.

EOG Resources Stock Up 0.2 %

Shares of NYSE:EOG opened at $132.45 on Friday. The stock has a market capitalization of $75.31 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28. The stock’s 50-day moving average price is $125.70 and its 200-day moving average price is $127.10. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, October 17th. EOG Resources’s payout ratio is 28.11%.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of EOG Resources in the 2nd quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources during the 2nd quarter valued at about $28,000. Gladius Capital Management LP purchased a new stake in shares of EOG Resources during the 2nd quarter valued at about $30,000. Triad Wealth Partners LLC bought a new position in shares of EOG Resources in the 2nd quarter worth approximately $35,000. Finally, Norwood Financial Corp purchased a new position in shares of EOG Resources in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.