KeyCorp Weighs in on EOG Resources, Inc.’s Q2 2023 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG – Get Rating) – Research analysts at KeyCorp lowered their Q2 2023 EPS estimates for shares of EOG Resources in a report released on Monday, March 6th. KeyCorp analyst T. Rezvan now forecasts that the energy exploration company will post earnings per share of $2.79 for the quarter, down from their previous estimate of $3.10. The consensus estimate for EOG Resources’ current full-year earnings is $13.13 per share. KeyCorp also issued estimates for EOG Resources’ Q3 2023 earnings at $2.91 EPS, Q1 2024 earnings at $3.17 EPS, Q2 2024 earnings at $3.07 EPS, Q3 2024 earnings at $3.02 EPS, Q4 2024 earnings at $3.14 EPS and FY2024 earnings at $12.39 EPS.

A number of other analysts also recently weighed in on the stock. Mizuho downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and increased their price target for the company from $155.00 to $160.00 in a research report on Tuesday, January 10th. Barclays dropped their target price on shares of EOG Resources from $152.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Morgan Stanley dropped their target price on shares of EOG Resources from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, January 24th. Piper Sandler lowered their price objective on shares of EOG Resources from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup lifted their price objective on shares of EOG Resources from $150.00 to $160.00 in a report on Tuesday, November 22nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average target price of $154.64.

EOG Resources Stock Down 0.4 %

Shares of NYSE EOG opened at $117.83 on Wednesday. The firm has a market capitalization of $69.25 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.32 and a beta of 1.52. The company has a current ratio of 1.90, a quick ratio of 1.71 and a debt-to-equity ratio of 0.15. EOG Resources has a 1 year low of $92.16 and a 1 year high of $150.88. The firm’s 50-day moving average is $126.17 and its 200-day moving average is $127.83.

EOG Resources (NYSE:EOG – Get Rating) last issued its earnings results on Friday, February 24th. The energy exploration company reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.09 billion. EOG Resources had a net margin of 30.19% and a return on equity of 34.95%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $3.09 EPS.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $3.30 annualized dividend and a yield of 2.80%. EOG Resources’s dividend payout ratio is currently 24.98%.

Insiders Place Their Bets

In other EOG Resources news, Director Michael T. Kerr purchased 20,000 shares of the stock in a transaction on Thursday, January 12th. The shares were purchased at an average price of $130.49 per share, with a total value of $2,609,800.00. Following the acquisition, the director now directly owns 170,000 shares in the company, valued at approximately $22,183,300. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

A number of large investors have recently modified their holdings of the company. Ossiam increased its stake in EOG Resources by 1,206.7% in the 4th quarter. Ossiam now owns 196 shares of the energy exploration company’s stock worth $25,000 after purchasing an additional 181 shares during the period. HM Payson & Co. grew its position in shares of EOG Resources by 54.3% in the 3rd quarter. HM Payson & Co. now owns 233 shares of the energy exploration company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $28,000. Lumature Wealth Partners LLC bought a new stake in shares of EOG Resources in the 1st quarter worth approximately $28,000. Finally, Kistler Tiffany Companies LLC bought a new stake in shares of EOG Resources in the 4th quarter worth approximately $30,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Company Profile

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EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad & Tobago, and Other International segments. The company was founded in 1985 and is headquartered in Houston, TX.