Zacks Research Expects Increased Earnings for EOG Resources

EOG Resources, Inc. (NYSE:EOG) – Analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for EOG Resources in a research report issued on Wednesday, January 15th. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings of $11.23 per share for the year, up from their previous estimate 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.

Other analysts have also issued reports about the stock. Truist Financial raised their price objective 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. Raymond James upped their target price on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $147.00 to $150.00 in a research note on Tuesday, December 17th. Scotiabank reduced their price objective on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $143.48.

EOG Resources Trading Down 0.4 %

NYSE 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 fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock has a market cap of $76.54 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 3.77 and a beta of 1.29. The stock has a 50 day simple moving average of $129.04 and a two-hundred day simple moving average of $127.14.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Thursday, November 7th. The energy exploration company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.16. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the business posted $3.44 EPS.

Institutional Trading of EOG Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of EOG Resources during the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. bought a new position in shares of EOG Resources during the 4th quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of EOG Resources in the third quarter valued at $28,000. Capital Performance Advisors LLP purchased a new stake in shares of EOG Resources during the 3rd quarter valued at about $31,000. Finally, HM Payson & Co. boosted its holdings in shares of EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock worth $40,000 after purchasing an additional 220 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’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 owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

EOG Resources announced that its board has authorized a share buyback program on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

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

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.