EOG Resources FY2024 EPS Boosted by Capital One Financial

EOG Resources, Inc. (NYSE:EOG) – Stock analysts at Capital One Financial raised their FY2024 EPS estimates for EOG Resources in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings of $11.40 per share for the year, up from their prior forecast of $11.37. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.53 EPS.

EOG has been the topic of a number of other reports. Scotiabank reduced their price target on 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. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Raymond James upped their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, Citigroup upped their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus target price of $143.71.

EOG Resources Stock Performance

Shares of EOG stock opened at $131.54 on Friday. The business’s fifty day simple moving average is $127.97 and its 200-day simple moving average is $126.69. The company has a market cap of $73.98 billion, a PE ratio of 10.59, a PEG ratio of 3.37 and a beta of 1.29. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. 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 authorized a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is presently 29.31%.

Insider Transactions at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EOG. Northwest Investment Counselors LLC acquired a new position in shares of EOG Resources during the 3rd quarter worth about $26,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter worth about $28,000. Capital Performance Advisors LLP acquired a new position in shares of EOG Resources during the 3rd quarter worth about $31,000. HM Payson & Co. raised its holdings in EOG Resources by 203.7% in the 3rd quarter. HM Payson & Co. now owns 328 shares of the energy exploration company’s stock valued at $40,000 after acquiring an additional 220 shares during the last quarter. Finally, Matrix Trust Co purchased a new position in EOG Resources in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds 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.