EOG Resources FY2024 EPS Forecast Lowered by Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research dropped their FY2024 EPS estimates for shares of EOG Resources in a report released on Tuesday, January 7th. Zacks Research analyst R. Department now forecasts that the energy exploration company will post earnings of $11.21 per share for the year, down from their prior estimate of $11.27. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.51 EPS, Q3 2025 earnings at $2.71 EPS and Q4 2026 earnings at $3.13 EPS.

EOG has been the subject of several other research reports. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. UBS Group dropped their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Barclays dropped their price objective on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Finally, Citigroup upped their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources has an average rating of “Moderate Buy” and an average price target of $143.71.

EOG Resources Stock Performance

Shares of EOG stock opened at $131.54 on Thursday. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $73.98 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. The firm has a fifty day simple moving average of $127.97 and a two-hundred day simple moving average of $126.68.

EOG Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is presently 29.31%.

EOG Resources declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’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 transaction, the chief operating officer now owns 42,703 shares in the company, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now owns 43,532 shares in the company, valued at $5,891,185.56. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Franklin Resources Inc. lifted its stake in EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after acquiring an additional 2,076,134 shares during the period. Fisher Asset Management LLC lifted its stake in EOG Resources by 856.7% in the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after acquiring an additional 1,075,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in EOG Resources in the second quarter worth $106,990,000. Legal & General Group Plc lifted its stake in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the period. Finally, Victory Capital Management Inc. lifted its position in EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after buying an additional 333,947 shares during the period. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.