FY2024 EPS Estimates for EOG Resources Lifted by Analyst

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Capital One Financial raised their FY2024 earnings estimates for EOG Resources in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the energy exploration company will post earnings of $11.40 per share for the year, up from their previous forecast of $11.37. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.53 EPS.

EOG has been the subject of a number of other research reports. Scotiabank reduced 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, October 10th. Truist Financial raised their price target on EOG Resources from $115.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Piper Sandler dropped their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Barclays reduced their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company upgraded shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Thirteen 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $143.71.

EOG Resources Price Performance

EOG stock opened at $131.54 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a 50 day moving average price of $127.97 and a 200-day moving average price of $126.68. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a market capitalization of $73.98 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 3.37 and a beta of 1.29.

EOG Resources declared that its board has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

EOG Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is currently 29.31%.

Insiders Place Their Bets

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

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in EOG Resources in the 3rd quarter worth $26,000. Eastern Bank purchased a new stake in shares of EOG Resources during the third quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in EOG Resources during the 3rd quarter valued at approximately $31,000. HM Payson & Co. lifted its holdings in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Matrix Trust Co bought a new position in EOG Resources in the 3rd quarter worth approximately $43,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.