Research Analysts Offer Predictions for EOG Resources, Inc.’s Q3 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for shares of EOG Resources in a note issued to investors on Monday, October 7th. Zacks Research analyst R. Department now expects that the energy exploration company will post earnings of $3.02 per share for the quarter, down from their previous estimate 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 research analysts have also issued reports on the stock. KeyCorp started coverage on shares of EOG Resources in a research note on Thursday, June 27th. They set an “overweight” rating and a $157.00 price target on the stock. StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Wolfe Research assumed coverage on shares of EOG Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, UBS Group decreased their target price on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Fourteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, EOG Resources currently has an average rating of “Hold” and an average price target of $142.15.

EOG Resources Price Performance

Shares of NYSE EOG opened at $130.37 on Wednesday. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The company has a market cap of $74.93 billion, a PE ratio of 10.30, a P/E/G ratio of 3.27 and a beta of 1.28. The business has a 50-day simple moving average of $125.34 and a two-hundred day simple moving average of $126.99.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EOG. Riverview Trust Co acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of EOG Resources in the 2nd quarter valued at approximately $28,000. Gladius Capital Management LP acquired a new position in shares of EOG Resources in the 2nd quarter worth approximately $30,000. Triad Wealth Partners LLC purchased a new position in shares of EOG Resources during the 2nd quarter worth approximately $35,000. Finally, Norwood Financial Corp acquired a new stake in EOG Resources in the 1st quarter valued at approximately $37,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EOG Resources

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

EOG Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued 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 dividend yield of 2.79%. EOG Resources’s payout ratio is currently 28.75%.

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.