EOG Resources FY2024 EPS Estimate Lifted by Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research boosted their FY2024 earnings estimates for shares of EOG Resources in a report released on Wednesday, January 15th. Zacks Research analyst R. Department now expects that the energy exploration company will post earnings of $11.23 per share for the year, up from their previous forecast of $11.21. The consensus estimate for EOG Resources’ current full-year earnings is $11.45 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.36 EPS, Q1 2025 earnings at $2.66 EPS, Q2 2025 earnings at $2.54 EPS, Q3 2025 earnings at $2.77 EPS, Q1 2026 earnings at $2.46 EPS, Q2 2026 earnings at $2.61 EPS, Q3 2026 earnings at $2.72 EPS, Q4 2026 earnings at $2.80 EPS and FY2026 earnings at $10.58 EPS.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, November 7th. The energy exploration company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.03 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. During the same period in the previous year, the firm earned $3.44 EPS.

EOG has been the topic of a number of other research reports. Scotiabank cut their target price on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a report on Monday, January 13th. StockNews.com upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Barclays lowered their target price on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources has an average rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Down 0.4 %

Shares of EOG opened at $136.09 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a market cap of $76.54 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.77 and a beta of 1.29. The business’s fifty day moving average is $129.04 and its 200-day moving average is $127.14.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Insight Inv LLC increased its holdings in shares of EOG Resources by 0.8% in the third quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares during the period. Cape ANN Savings Bank boosted its position in shares of EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after acquiring an additional 79 shares during the last quarter. Everpar Advisors LLC lifted its position in EOG Resources by 3.6% during the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after purchasing an additional 83 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in EOG Resources by 3.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,921 shares of the energy exploration company’s stock worth $358,000 after buying an additional 84 shares in the last quarter. Finally, Grove Bank & Trust raised its position in EOG Resources by 10.0% during the fourth quarter. Grove Bank & Trust now owns 928 shares of the energy exploration company’s stock valued at $114,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were 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 in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 2.87%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s payout ratio is presently 31.40%.

EOG Resources declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

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.