$2.57 Billion in Sales Expected for EOG Resources, Inc. (EOG) This Quarter
Equities research analysts forecast that EOG Resources, Inc. (NYSE:EOG) will announce sales of $2.57 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for EOG Resources’ earnings, with the highest sales estimate coming in at $2.70 billion and the lowest estimate coming in at $2.46 billion. EOG Resources posted sales of $2.12 billion in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The company is expected to announce its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that EOG Resources will report full-year sales of $2.57 billion for the current fiscal year, with estimates ranging from $10.27 billion to $10.99 billion. For the next year, analysts expect that the business will report sales of $12.71 billion per share, with estimates ranging from $11.89 billion to $14.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow EOG Resources.
EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Tuesday, August 1st. The energy exploration company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.51 billion. EOG Resources had a negative return on equity of 0.68% and a negative net margin of 2.88%. EOG Resources’s quarterly revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS.
Several research firms have weighed in on EOG. Scotiabank set a $100.00 target price on EOG Resources and gave the company a “hold” rating in a research note on Saturday, July 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $101.00 price target on shares of EOG Resources in a research report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price target on shares of EOG Resources in a research report on Friday, July 14th. FBR & Co dropped their price target on EOG Resources from $122.00 to $108.00 and set an “outperform” rating on the stock in a research report on Monday, June 26th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EOG Resources in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $108.68.
In other EOG Resources news, Director Charles R. Crisp sold 3,411 shares of EOG Resources stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $97.03, for a total value of $330,969.33. Following the completion of the transaction, the director now directly owns 53,196 shares of the company’s stock, valued at approximately $5,161,607.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lloyd W. Helms, Jr. sold 4,000 shares of EOG Resources stock in a transaction on Monday, August 14th. The shares were sold at an average price of $88.22, for a total value of $352,880.00. Following the completion of the transaction, the executive vice president now directly owns 70,987 shares of the company’s stock, valued at $6,262,473.14. The disclosure for this sale can be found here. Insiders sold a total of 38,578 shares of company stock valued at $3,700,882 over the last ninety days. Insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Israel Discount Bank of New York acquired a new position in shares of EOG Resources during the 1st quarter worth $556,000. Usca Ria LLC raised its holdings in shares of EOG Resources by 232.2% during the 2nd quarter. Usca Ria LLC now owns 15,651 shares of the energy exploration company’s stock worth $1,417,000 after buying an additional 10,939 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of EOG Resources by 4.8% during the 2nd quarter. AlphaMark Advisors LLC now owns 41,163 shares of the energy exploration company’s stock worth $3,726,000 after buying an additional 1,895 shares in the last quarter. Commerce Bank raised its holdings in shares of EOG Resources by 5.4% during the 2nd quarter. Commerce Bank now owns 235,092 shares of the energy exploration company’s stock worth $21,281,000 after buying an additional 11,996 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in shares of EOG Resources by 312.1% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 480,575 shares of the energy exploration company’s stock worth $40,090,000 after buying an additional 363,973 shares in the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.
EOG Resources (NYSE EOG) traded up 1.13% during mid-day trading on Friday, reaching $96.84. The company’s stock had a trading volume of 2,194,495 shares. EOG Resources has a 12 month low of $81.99 and a 12 month high of $109.37. The company’s market cap is $55.92 billion. The stock’s 50 day moving average is $94.01 and its 200 day moving average is $91.74.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be issued a $0.1675 dividend. The ex-dividend date is Monday, October 16th. This represents a $0.67 annualized dividend and a yield of 0.69%. EOG Resources’s dividend payout ratio is presently -131.37%.
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EOG Resources Company Profile
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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