EOG Resources, Inc. (NYSE:EOG) Expected to Post Quarterly Sales of $2.90 Billion

Brokerages expect EOG Resources, Inc. (NYSE:EOG) to post $2.90 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for EOG Resources’ earnings. The highest sales estimate is $2.99 billion and the lowest is $2.74 billion. EOG Resources reported sales of $4.32 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 32.9%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, February 25th.

On average, analysts expect that EOG Resources will report full year sales of $10.91 billion for the current year, with estimates ranging from $10.51 billion to $11.06 billion. For the next financial year, analysts anticipate that the company will post sales of $13.53 billion, with estimates ranging from $12.42 billion to $15.45 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover EOG Resources.

A number of research firms recently commented on EOG. Barclays decreased their price target on EOG Resources from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 2nd. TD Securities increased their price objective on EOG Resources from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Truist increased their price objective on EOG Resources from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, December 29th. The Goldman Sachs Group lowered EOG Resources from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, December 15th. Finally, Morgan Stanley increased their price target on EOG Resources from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. EOG Resources currently has a consensus rating of “Buy” and an average target price of $63.29.

Several institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of EOG Resources by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 3,157,496 shares of the energy exploration company’s stock valued at $157,465,000 after acquiring an additional 123,543 shares during the period. UBP Investment Advisors SA bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $214,000. Achmea Investment Management B.V. grew its position in shares of EOG Resources by 111.1% during the 4th quarter. Achmea Investment Management B.V. now owns 63,188 shares of the energy exploration company’s stock valued at $3,151,000 after acquiring an additional 33,253 shares during the period. Robinson Value Management Ltd. bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $2,454,000. Finally, National Pension Service grew its position in shares of EOG Resources by 2.2% during the 4th quarter. National Pension Service now owns 797,855 shares of the energy exploration company’s stock valued at $39,789,000 after acquiring an additional 17,243 shares during the period. 87.69% of the stock is owned by hedge funds and other institutional investors.

EOG Resources stock traded up $1.75 during trading hours on Tuesday, hitting $67.85. The stock had a trading volume of 4,236,333 shares, compared to its average volume of 4,819,567. The company has a market cap of $39.58 billion, a PE ratio of -127.11 and a beta of 2.09. EOG Resources has a fifty-two week low of $27.00 and a fifty-two week high of $71.33. The company has a 50-day moving average of $57.76 and a two-hundred day moving average of $47.14. The company has a quick ratio of 1.47, a current ratio of 1.69 and a debt-to-equity ratio of 0.25.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Shareholders of record on Friday, January 15th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, January 14th. EOG Resources’s payout ratio is 30.12%.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. The company's principal producing areas are located in New Mexico, North Dakota, Texas, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.

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Earnings History and Estimates for EOG Resources (NYSE:EOG)

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