FY2023 EPS Estimates for EOG Resources, Inc. Lifted by Analyst (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG – Get Rating) – Research analysts at KeyCorp boosted their FY2023 earnings per share estimates for shares of EOG Resources in a research note issued to investors on Sunday, May 7th. KeyCorp analyst T. Rezvan now anticipates that the energy exploration company will earn $10.82 per share for the year, up from their previous estimate of $10.76. The consensus estimate for EOG Resources’ current full-year earnings is $11.76 per share.

EOG Resources (NYSE:EOG – Get Rating) last posted its quarterly earnings results on Friday, May 5th. The energy exploration company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.27. EOG Resources had a net margin of 33.83% and a return on equity of 30.34%. The business had revenue of $6.04 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm earned $4.00 earnings per share. The firm’s revenue was up 51.7% compared to the same quarter last year.

EOG has been the subject of several other reports. TD Securities cut their price objective on EOG Resources from $150.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, March 8th. JPMorgan Chase & Co. lifted their price target on EOG Resources from $139.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 12th. Morgan Stanley dropped their price objective on EOG Resources from $140.00 to $132.00 and set an “overweight” rating on the stock in a report on Monday, March 27th. Scotiabank raised shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and reduced their price objective for the company from $150.00 to $145.00 in a research note on Thursday, April 13th. Finally, StockNews.com initiated coverage on EOG Resources in a report on Thursday, March 16th. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $150.42.

EOG Resources Trading Down 1.4 %

Shares of NYSE:EOG opened at $112.16 on Wednesday. The firm has a fifty day moving average of $114.78 and a two-hundred day moving average of $125.57. The company has a quick ratio of 1.90, a current ratio of 2.17 and a debt-to-equity ratio of 0.15. EOG Resources has a 12-month low of $92.16 and a 12-month high of $150.88. The firm has a market capitalization of $65.60 billion, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 0.34 and a beta of 1.53.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, July 14th. EOG Resources’s dividend payout ratio (DPR) is presently 20.64%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of EOG Resources by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 53,571,626 shares of the energy exploration company’s stock worth $5,985,558,000 after buying an additional 584,133 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of EOG Resources by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,826,112 shares of the energy exploration company’s stock valued at $1,661,238,000 after acquiring an additional 1,222,209 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of EOG Resources by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 11,551,976 shares of the energy exploration company’s stock worth $1,493,398,000 after acquiring an additional 1,321,754 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in EOG Resources by 3.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,190,712 shares of the energy exploration company’s stock worth $915,149,000 after acquiring an additional 245,996 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new stake in EOG Resources during the 4th quarter valued at $106,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

About EOG Resources

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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.