Q4 2023 Earnings Estimate for EOG Resources, Inc. (NYSE:EOG) Issued By Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Stock analysts at Zacks Research upped their Q4 2023 earnings per share estimates for EOG Resources in a research note issued on Monday, September 11th. Zacks Research analyst N. Banerjee now expects that the energy exploration company will post earnings of $2.99 per share for the quarter, up from their prior estimate of $2.98. The consensus estimate for EOG Resources’ current full-year earnings is $11.08 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $3.13 EPS.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 3rd. The energy exploration company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.21. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.74 billion. EOG Resources had a return on equity of 28.52% and a net margin of 33.58%. EOG Resources’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.74 EPS.

Other research analysts have also issued reports about the stock. TD Securities raised their price objective on shares of EOG Resources from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Friday, August 4th. Mizuho increased their target price on EOG Resources from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Evercore ISI lowered their price target on EOG Resources from $115.00 to $113.00 in a report on Monday, July 10th. UBS Group raised their price objective on EOG Resources from $139.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Jefferies Financial Group boosted their target price on shares of EOG Resources from $141.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

EOG Resources Stock Down 0.9 %

Shares of NYSE:EOG opened at $132.91 on Wednesday. The firm has a market cap of $77.39 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.41 and a beta of 1.57. The company has a fifty day simple moving average of $127.24 and a 200 day simple moving average of $118.34. The company has a current ratio of 2.39, a quick ratio of 2.02 and a debt-to-equity ratio of 0.14. EOG Resources has a 12-month low of $98.52 and a 12-month high of $150.88.

Institutional Trading of EOG Resources

Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. boosted its stake in shares of EOG Resources by 18.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 65,998 shares of the energy exploration company’s stock worth $7,565,000 after acquiring an additional 10,154 shares in the last quarter. Continuum Advisory LLC increased its stake in EOG Resources by 6.6% in the 1st quarter. Continuum Advisory LLC now owns 7,112 shares of the energy exploration company’s stock worth $815,000 after purchasing an additional 438 shares in the last quarter. Natixis raised its holdings in EOG Resources by 56.2% during the 4th quarter. Natixis now owns 351,270 shares of the energy exploration company’s stock worth $45,496,000 after buying an additional 126,454 shares during the period. Allworth Financial LP lifted its stake in EOG Resources by 6.3% during the first quarter. Allworth Financial LP now owns 11,160 shares of the energy exploration company’s stock valued at $1,279,000 after buying an additional 666 shares in the last quarter. Finally, Shelton Capital Management boosted its holdings in shares of EOG Resources by 3.3% in the first quarter. Shelton Capital Management now owns 3,819 shares of the energy exploration company’s stock worth $438,000 after buying an additional 122 shares during the period. 89.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other EOG Resources news, COO Lloyd W. Helms, Jr. sold 4,551 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $130.76, for a total value of $595,088.76. Following the completion of the sale, the chief operating officer now directly owns 145,259 shares in the company, valued at $18,994,066.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeffrey R. Leitzell sold 2,031 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $117.26, for a total transaction of $238,155.06. Following the completion of the transaction, the executive vice president now owns 37,607 shares in the company, valued at approximately $4,409,796.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Lloyd W. Helms, Jr. sold 4,551 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $130.76, for a total transaction of $595,088.76. Following the completion of the sale, the chief operating officer now owns 145,259 shares in the company, valued at $18,994,066.84. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

EOG Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Monday, October 16th. This represents a $3.30 annualized dividend and a yield of 2.48%. EOG Resources’s payout ratio is 22.24%.

About EOG Resources

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. The company was formerly known as Enron Oil & Gas Company.