FY2024 EPS Estimate for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research reduced their FY2024 earnings estimates for EOG Resources in a research report issued to clients and investors on Thursday, November 21st. Zacks Research analyst R. Department now expects that the energy exploration company will earn $11.27 per share for the year, down from their prior estimate of $11.80. The consensus estimate for EOG Resources’ current full-year earnings is $11.48 per share. Zacks Research also issued estimates for EOG Resources’ Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.58 EPS, Q3 2025 earnings at $2.80 EPS, Q4 2025 earnings at $2.90 EPS, Q1 2026 earnings at $2.49 EPS and Q3 2026 earnings at $2.89 EPS.

Several other equities research analysts have also commented on the stock. Morgan Stanley cut their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Raymond James lifted their target price on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 21st. Benchmark reissued a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Evercore ISI cut their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Finally, Scotiabank dropped their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Fifteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $144.00.

EOG Resources Trading Down 3.2 %

NYSE:EOG opened at $131.98 on Monday. The firm has a market capitalization of $74.23 billion, a P/E ratio of 10.63, a P/E/G ratio of 3.62 and a beta of 1.28. The business has a 50 day simple moving average of $128.16 and a 200 day simple moving average of $126.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources declared that its board has approved a stock repurchase plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.95%. EOG Resources’s dividend payout ratio is currently 29.31%.

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares in the company, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of EOG Resources

Large investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL boosted its position in EOG Resources by 23.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,100 shares of the energy exploration company’s stock worth $268,000 after acquiring an additional 400 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of EOG Resources by 8.1% during the first quarter. Janus Henderson Group PLC now owns 1,045,105 shares of the energy exploration company’s stock worth $133,606,000 after purchasing an additional 78,619 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in EOG Resources in the 1st quarter valued at approximately $312,000. Ancora Advisors LLC increased its stake in EOG Resources by 1.9% in the 1st quarter. Ancora Advisors LLC now owns 358,236 shares of the energy exploration company’s stock valued at $45,797,000 after buying an additional 6,723 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its position in EOG Resources by 32.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock worth $1,871,000 after buying an additional 3,613 shares in the last quarter. 89.91% of the stock is 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.