Q2 2024 Earnings Forecast for EOG Resources, Inc. (NYSE:EOG) Issued By Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Stock analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for shares of EOG Resources in a note issued to investors on Tuesday, June 25th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will post earnings per share of $2.91 for the quarter, down from their prior forecast of $3.01. The consensus estimate for EOG Resources’ current full-year earnings is $11.99 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 released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $2.69 EPS. EOG Resources’s quarterly revenue was up 1.3% compared to the same quarter last year.

Several other brokerages also recently issued reports on EOG. Benchmark reissued a “hold” rating on shares of EOG Resources in a report on Tuesday, May 7th. Stifel Nicolaus cut their price target on EOG Resources from $153.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Barclays started coverage on EOG Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 price target on the stock. Mizuho raised their price target on EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Truist Financial downgraded EOG Resources from a “buy” rating to a “hold” rating and cut their price target for the stock from $163.00 to $136.00 in a report on Thursday, May 16th. Thirteen 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 stock. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $143.19.

EOG Resources Trading Up 1.1 %

Shares of NYSE EOG opened at $125.87 on Friday. The company has a market cap of $72.34 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $126.28 and its 200 day simple moving average is $122.42.

Hedge Funds Weigh In On EOG Resources

A number of hedge funds have recently modified their holdings of the stock. McIlrath & Eck LLC boosted its position in shares of EOG Resources by 77.6% in the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after buying an additional 104 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of EOG Resources by 530.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after buying an additional 212 shares during the period. Sachetta LLC purchased a new position in EOG Resources during the fourth quarter valued at approximately $33,000. Hall Laurie J Trustee purchased a new position in shares of EOG Resources during the 4th quarter valued at $36,000. Finally, Keener Financial Planning LLC acquired a new position in shares of EOG Resources in the fourth quarter worth $36,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

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.