$2.51 Billion in Sales Expected for EOG Resources Inc (EOG) This Quarter
Wall Street analysts expect EOG Resources Inc (NYSE:EOG) to report $2.51 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for EOG Resources’ earnings, with the lowest sales estimate coming in at $1.96 billion and the highest estimate coming in at $2.73 billion. EOG Resources posted sales of $1.78 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 41%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that EOG Resources will report full-year sales of $2.51 billion for the current year, with estimates ranging from $9.04 billion to $12.38 billion. For the next financial year, analysts anticipate that the company will post sales of $12.8 billion per share, with estimates ranging from $10.05 billion to $15.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover EOG Resources.
EOG Resources (NYSE:EOG) last released its quarterly earnings results on Monday, May 8th. The energy exploration company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. EOG Resources had a negative return on equity of 8.42% and a negative net margin of 17.58%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted ($0.83) earnings per share. The company’s revenue for the quarter was up 92.8% compared to the same quarter last year.
Several brokerages have issued reports on EOG. Iberia Capital lifted their price objective on EOG Resources from $109.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, April 3rd. Wells Fargo & Co upgraded EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Wednesday, May 10th. BMO Capital Markets reiterated a “buy” rating on shares of EOG Resources in a research report on Tuesday, May 9th. Royal Bank of Canada reiterated a “hold” rating and issued a $109.00 price objective on shares of EOG Resources in a research report on Tuesday, April 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price objective on shares of EOG Resources in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. EOG Resources currently has an average rating of “Buy” and an average price target of $106.61.
In other EOG Resources news, Director Frank G. Wisner sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $93.35, for a total value of $2,613,800.00. Following the sale, the director now owns 136,282 shares in the company, valued at $12,721,924.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles R. Crisp sold 2,593 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $100.02, for a total value of $259,351.86. Following the completion of the sale, the director now owns 49,613 shares in the company, valued at approximately $4,962,292.26. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Welch & Forbes LLC raised its stake in EOG Resources by 7.6% in the third quarter. Welch & Forbes LLC now owns 40,779 shares of the energy exploration company’s stock valued at $3,943,000 after buying an additional 2,867 shares in the last quarter. Neuberger Berman Group LLC raised its stake in EOG Resources by 1.1% in the third quarter. Neuberger Berman Group LLC now owns 6,496,623 shares of the energy exploration company’s stock valued at $628,288,000 after buying an additional 69,968 shares in the last quarter. CG Asset Management LLC raised its stake in EOG Resources by 7.7% in the third quarter. CG Asset Management LLC now owns 59,280 shares of the energy exploration company’s stock valued at $5,733,000 after buying an additional 4,255 shares in the last quarter. Crestwood Advisors LLC raised its stake in EOG Resources by 4.9% in the third quarter. Crestwood Advisors LLC now owns 136,913 shares of the energy exploration company’s stock valued at $13,241,000 after buying an additional 6,440 shares in the last quarter. Finally, Commerce Bank raised its stake in EOG Resources by 3.3% in the third quarter. Commerce Bank now owns 198,548 shares of the energy exploration company’s stock valued at $19,202,000 after buying an additional 6,417 shares in the last quarter. Hedge funds and other institutional investors own 85.49% of the company’s stock.
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EOG Resources (NYSE:EOG) opened at 91.22 on Friday. The stock has a 50 day moving average price of $93.72 and a 200 day moving average price of $98.08. EOG Resources has a 1-year low of $78.04 and a 1-year high of $109.37. The company’s market cap is $52.66 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be paid a $0.1675 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.67 annualized dividend and a yield of 0.73%. EOG Resources’s dividend payout ratio is -29.65%.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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