Research Analysts Set Expectations for EOG Resources, Inc.’s Q1 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Capital One Financial decreased their Q1 2024 earnings per share estimates for EOG Resources in a note issued to investors on Thursday, April 11th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will earn $2.54 per share for the quarter, down from their previous estimate of $2.57. The consensus estimate for EOG Resources’ current full-year earnings is $11.95 per share.

EOG Resources (NYSE:EOG) last released its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The company’s revenue was down 5.4% compared to the same quarter last year.

EOG has been the subject of a number of other research reports. Stifel Nicolaus dropped their price target on EOG Resources from $163.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Citigroup raised their price target on EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Barclays began coverage on EOG Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective for the company. Susquehanna dropped their price objective on EOG Resources from $164.00 to $147.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Finally, Bank of America cut EOG Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $147.00 to $140.00 in a research report on Friday, January 5th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average price target of $140.76.

EOG Resources Trading Down 1.4 %

Shares of EOG stock opened at $135.29 on Monday. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The stock has a market cap of $77.82 billion, a P/E ratio of 10.40 and a beta of 1.40. The business has a fifty day simple moving average of $121.36 and a 200-day simple moving average of $121.78. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently modified their holdings of EOG. CENTRAL TRUST Co increased its holdings in shares of EOG Resources by 0.8% during the 3rd quarter. CENTRAL TRUST Co now owns 9,118 shares of the energy exploration company’s stock valued at $1,019,000 after acquiring an additional 74 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of EOG Resources by 3.0% in the 3rd quarter. Ballentine Partners LLC now owns 2,614 shares of the energy exploration company’s stock worth $331,000 after acquiring an additional 75 shares during the period. Covestor Ltd lifted its position in shares of EOG Resources by 7.2% in the 3rd quarter. Covestor Ltd now owns 1,215 shares of the energy exploration company’s stock worth $154,000 after acquiring an additional 82 shares during the period. ORG Partners LLC lifted its position in shares of EOG Resources by 1.0% in the 3rd quarter. ORG Partners LLC now owns 8,822 shares of the energy exploration company’s stock worth $1,118,000 after acquiring an additional 84 shares during the period. Finally, White Pine Capital LLC lifted its position in shares of EOG Resources by 2.2% in the 4th quarter. White Pine Capital LLC now owns 3,942 shares of the energy exploration company’s stock worth $511,000 after acquiring an additional 85 shares during the period. 89.91% of the stock is owned by institutional investors and hedge funds.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources’s dividend payout ratio is currently 27.98%.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.