FY2024 EPS Estimates for EOG Resources Boosted by Analyst

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for EOG Resources in a report released on Wednesday, January 15th. Zacks Research analyst R. Department now forecasts that the energy exploration company will earn $11.23 per share for the year, up from their previous estimate of $11.21. The consensus estimate for EOG Resources’ current full-year earnings is $11.40 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.36 EPS, Q1 2025 earnings at $2.66 EPS, Q2 2025 earnings at $2.54 EPS, Q3 2025 earnings at $2.77 EPS, Q1 2026 earnings at $2.46 EPS, Q2 2026 earnings at $2.61 EPS, Q3 2026 earnings at $2.72 EPS, Q4 2026 earnings at $2.80 EPS and FY2026 earnings at $10.58 EPS.

Several other equities research analysts also recently commented on the company. KeyCorp cut their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Barclays dropped their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Mizuho reduced their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler cut their price target on EOG Resources from $149.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.48.

EOG Resources Stock Down 1.0 %

EOG stock opened at $136.70 on Monday. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 3.63 and a beta of 1.29. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The business has a 50 day moving average price of $128.96 and a two-hundred day moving average price of $127.07. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s dividend payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares of the company’s stock, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the sale, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Several hedge funds have recently modified their holdings of the company. Seven Eight Capital LP increased its stake in shares of EOG Resources by 87.7% in the second quarter. Seven Eight Capital LP now owns 4,949 shares of the energy exploration company’s stock valued at $623,000 after buying an additional 2,313 shares during the period. Ieq Capital LLC increased its position in EOG Resources by 9.6% in the 2nd quarter. Ieq Capital LLC now owns 21,844 shares of the energy exploration company’s stock valued at $2,750,000 after acquiring an additional 1,915 shares during the period. Sei Investments Co. raised its stake in shares of EOG Resources by 0.4% during the second quarter. Sei Investments Co. now owns 301,099 shares of the energy exploration company’s stock valued at $37,900,000 after acquiring an additional 1,120 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of EOG Resources by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 242,948 shares of the energy exploration company’s stock worth $30,580,000 after purchasing an additional 1,787 shares during the period. Finally, Legacy Financial Advisors Inc. grew its stake in shares of EOG Resources by 10.1% in the second quarter. Legacy Financial Advisors Inc. now owns 3,204 shares of the energy exploration company’s stock worth $403,000 after purchasing an additional 294 shares during the last quarter. 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.