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

EOG Resources, Inc. (NYSE:EOG) – Equities research analysts at Zacks Research raised their Q2 2024 earnings estimates for shares of EOG Resources in a report issued on Thursday, May 16th. Zacks Research analyst N. Banerjee now expects that the energy exploration company will post earnings per share of $3.01 for the quarter, up from their prior estimate of $2.96. The consensus estimate for EOG Resources’ current full-year earnings is $12.21 per share. Zacks Research also issued estimates for EOG Resources’ Q3 2024 earnings at $3.20 EPS, FY2024 earnings at $11.99 EPS, Q2 2025 earnings at $3.17 EPS and Q4 2025 earnings at $3.14 EPS.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. Truist Financial lowered shares of EOG Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $163.00 to $136.00 in a report on Thursday. Scotiabank lowered EOG Resources from a “sector outperform” rating to a “sector perform” rating and increased their price target for the stock from $135.00 to $155.00 in a research report on Thursday, April 11th. TD Securities cut their price objective on EOG Resources from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a report on Tuesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Hold” and a consensus target price of $141.82.

EOG Resources Price Performance

EOG Resources stock opened at $129.96 on Friday. The business has a 50 day simple moving average of $130.30 and a 200 day simple moving average of $122.48. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The company has a market capitalization of $74.69 billion, a PE ratio of 10.27 and a beta of 1.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05.

EOG Resources (NYSE:EOG) last announced its quarterly 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 net margin of 30.33% and a return on equity of 24.83%. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $2.69 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 annualized dividend and a yield of 2.80%. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insider Buying and Selling at EOG Resources

In related news, EVP Michael P. Donaldson sold 2,685 shares of EOG Resources stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the completion of the transaction, the executive vice president now owns 109,040 shares in the company, valued at $14,206,821.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other EOG Resources 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 completion of the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the sale, the executive vice president now directly owns 109,040 shares in the company, valued at $14,206,821.60. The disclosure for this sale can be found here. Insiders sold a total of 11,783 shares of company stock worth $1,533,465 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EOG. Citizens Financial Group Inc. RI acquired a new position in EOG Resources during the first quarter worth about $374,000. Montchanin Asset Management LLC bought a new stake in shares of EOG Resources during the 1st quarter valued at approximately $493,000. New Covenant Trust Company N.A. acquired a new position in EOG Resources during the 1st quarter worth approximately $110,000. iA Global Asset Management Inc. increased its position in EOG Resources by 13.8% during the 1st quarter. iA Global Asset Management Inc. now owns 82,063 shares of the energy exploration company’s stock worth $10,491,000 after purchasing an additional 9,948 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in EOG Resources in the first quarter valued at approximately $208,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.