EOG Resources, Inc. (NYSE:EOG) Expected to Announce Earnings of $3.23 Per Share

Brokerages expect EOG Resources, Inc. (NYSE:EOGGet Rating) to report earnings per share (EPS) of $3.23 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for EOG Resources’ earnings. The lowest EPS estimate is $2.51 and the highest is $3.86. EOG Resources reported earnings per share of $1.62 in the same quarter last year, which indicates a positive year-over-year growth rate of 99.4%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that EOG Resources will report full-year earnings of $13.98 per share for the current financial year, with EPS estimates ranging from $9.15 to $17.98. For the next fiscal year, analysts expect that the company will report earnings of $13.03 per share, with EPS estimates ranging from $8.07 to $18.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for EOG Resources.

EOG Resources (NYSE:EOGGet Rating) last released its earnings results on Thursday, February 24th. The energy exploration company reported $3.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.21 by ($0.12). The business had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.56 billion. EOG Resources had a net margin of 25.02% and a return on equity of 23.50%. EOG Resources’s revenue for the quarter was up 103.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS.

Several equities analysts recently issued reports on EOG shares. Benchmark lowered EOG Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. They noted that the move was a valuation call. Wells Fargo & Company increased their price target on shares of EOG Resources from $113.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Royal Bank of Canada boosted their price objective on shares of EOG Resources from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Raymond James increased their target price on shares of EOG Resources from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, March 23rd. Finally, Bank of America downgraded EOG Resources from a “buy” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $146.00 in a report on Tuesday, March 8th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $124.36.

In other news, EVP Michael P. Donaldson sold 11,327 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $117.15, for a total transaction of $1,326,958.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey R. Leitzell sold 4,662 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $121.48, for a total transaction of $566,339.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,677 shares of company stock valued at $2,343,086. 0.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EOG. Rational Advisors LLC raised its stake in shares of EOG Resources by 102.0% in the fourth quarter. Rational Advisors LLC now owns 303 shares of the energy exploration company’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in EOG Resources in the 4th quarter worth about $27,000. JCIC Asset Management Inc. purchased a new position in EOG Resources in the 4th quarter worth about $31,000. Equitec Proprietary Markets LLC bought a new position in EOG Resources during the 4th quarter valued at about $31,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of EOG Resources during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

EOG opened at $122.94 on Thursday. EOG Resources has a 12 month low of $62.81 and a 12 month high of $127.94. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $117.23 and its 200-day moving average price is $102.02. The company has a market cap of $71.97 billion, a P/E ratio of 15.41, a P/E/G ratio of 0.31 and a beta of 1.79.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Friday, April 15th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.44%. EOG Resources’s payout ratio is currently 37.59%.

EOG Resources Company Profile (Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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