EOG Resources, Inc. to Post Q3 2024 Earnings of $3.02 Per Share, Zacks Research Forecasts (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Equities researchers at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for EOG Resources in a research report issued on Monday, October 7th. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings per share of $3.02 for the quarter, down from their prior forecast of $3.19. The consensus estimate for EOG Resources’ current full-year earnings is $11.91 per share. Zacks Research also issued estimates for EOG Resources’ Q1 2025 earnings at $2.78 EPS and Q2 2025 earnings at $2.84 EPS.

A number of other equities research analysts have also recently commented on EOG. Bank of America reiterated a “buy” rating and set a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Wolfe Research began coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Morgan Stanley lowered their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Sanford C. Bernstein reduced their price objective on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Fourteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.65.

EOG Resources Stock Up 0.9 %

EOG stock opened at $132.19 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market capitalization of $75.97 billion, a PE ratio of 10.44, a P/E/G ratio of 3.27 and a beta of 1.28. The company’s 50 day simple moving average is $125.51 and its 200-day simple moving average is $127.06.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 EPS.

Hedge Funds Weigh In On EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in EOG. Cape ANN Savings Bank raised its stake in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares in the last quarter. Wright Investors Service Inc. increased its stake in EOG Resources by 0.8% during the first quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company’s stock valued at $1,299,000 after purchasing an additional 80 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after purchasing an additional 81 shares during the period. Bailard Inc. lifted its position in shares of EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after buying an additional 81 shares during the last quarter. Finally, Field & Main Bank lifted its position in shares of EOG Resources by 1.4% in the 1st quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company’s stock worth $788,000 after buying an additional 83 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of EOG Resources stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,537 shares of company stock valued at $2,751,612. Company insiders own 0.30% of the company’s stock.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.75%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

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.