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

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research decreased their Q2 2024 earnings estimates for EOG Resources in a report issued on Tuesday, June 25th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will post earnings of $2.91 per share for the quarter, down from their previous estimate of $3.01. The consensus estimate for EOG Resources’ current full-year earnings is $11.99 per share. Zacks Research also issued estimates for EOG Resources’ Q1 2025 earnings at $3.22 EPS, Q2 2025 earnings at $3.19 EPS, Q3 2025 earnings at $3.22 EPS, FY2025 earnings at $12.68 EPS, Q1 2026 earnings at $2.72 EPS and FY2026 earnings at $11.55 EPS.

EOG has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, March 28th. Citigroup lifted their price objective on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. KeyCorp initiated coverage on shares of EOG Resources in a research note on Thursday. They set an “overweight” rating and a $157.00 price objective for the company. Morgan Stanley lifted their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Susquehanna lifted their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.19.

EOG Resources Stock Up 1.1 %

NYSE EOG opened at $125.87 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $126.28 and a two-hundred day moving average of $122.42. The firm has a market capitalization of $72.34 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.73 and a beta of 1.32. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.12. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $2.69 earnings per share. EOG Resources’s quarterly revenue was up 1.3% on a year-over-year basis.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 7,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the sale, the chief operating officer now directly owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other EOG Resources news, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the transaction, the chief operating officer now directly owns 39,054 shares in the company, valued at $5,079,753.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $130.27, for a total transaction of $168,829.92. Following the completion of the transaction, the president now owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock valued at $2,144,972 over the last three months. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock valued at $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of EOG Resources by 26.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company’s stock valued at $598,475,000 after acquiring an additional 1,029,727 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of EOG Resources by 8.4% during the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock valued at $1,462,966,000 after acquiring an additional 892,951 shares in the last quarter. Capital International Investors boosted its position in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock valued at $1,478,401,000 after buying an additional 766,056 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in EOG Resources by 1.3% in the first quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock valued at $3,693,261,000 after buying an additional 373,365 shares during the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.