Zacks: Analysts Anticipate EOG Resources, Inc. (NYSE:EOG) Will Post Earnings of $4.25 Per Share

Brokerages expect that EOG Resources, Inc. (NYSE:EOGGet Rating) will announce earnings of $4.25 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for EOG Resources’ earnings. The highest EPS estimate is $4.88 and the lowest is $3.47. EOG Resources reported earnings per share of $1.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 145.7%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that EOG Resources will report full-year earnings of $16.82 per share for the current year, with EPS estimates ranging from $13.85 to $19.80. For the next year, analysts anticipate that the firm will report earnings of $14.95 per share, with EPS estimates ranging from $12.36 to $18.63. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow EOG Resources.

EOG Resources (NYSE:EOGGet Rating) last announced its earnings results on Thursday, May 5th. The energy exploration company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.69 by $0.31. EOG Resources had a net margin of 23.12% and a return on equity of 29.77%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.

Several equities analysts recently weighed in on EOG shares. Truist Financial raised their price objective on shares of EOG Resources from $150.00 to $178.00 in a research report on Thursday, April 21st. Mizuho raised their price objective on shares of EOG Resources from $124.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, March 31st. Wells Fargo & Company raised their price objective 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. Credit Suisse Group raised their price objective on shares of EOG Resources from $110.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, February 25th. Finally, TD Securities lowered shares of EOG Resources from a “buy” rating to a “hold” rating and raised their price objective for the company from $130.00 to $140.00 in a research report on Thursday, March 24th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $136.96.

EOG stock opened at $133.07 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.26 and a current ratio of 1.35. The stock has a market cap of $77.94 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.25 and a beta of 1.68. The firm has a 50 day simple moving average of $121.43 and a 200 day simple moving average of $108.02. EOG Resources has a 52 week low of $62.81 and a 52 week high of $133.46.

The firm also recently declared a None dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, June 14th. EOG Resources’s dividend payout ratio is currently 40.05%.

In other news, EVP Michael P. Donaldson sold 11,327 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $117.15, for a total value of $1,326,958.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey R. Leitzell sold 4,662 shares of the business’s stock in a transaction 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. Insiders have sold 19,677 shares of company stock worth $2,343,086 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in EOG Resources during the 4th quarter worth about $27,000. Rational Advisors LLC raised its holdings in EOG Resources by 102.0% during the 4th 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. Lumature Wealth Partners LLC bought a new stake in EOG Resources during the 1st quarter worth about $28,000. BDO Wealth Advisors LLC raised its holdings in EOG Resources by 476.2% during the 1st quarter. BDO Wealth Advisors LLC now owns 242 shares of the energy exploration company’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Finally, JCIC Asset Management Inc. bought a new stake in EOG Resources during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

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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Earnings History and Estimates for EOG Resources (NYSE:EOG)

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