KeyCorp Comments on EOG Resources, Inc.’s Q3 2022 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOGGet Rating) – Analysts at KeyCorp issued their Q3 2022 earnings per share estimates for shares of EOG Resources in a note issued to investors on Monday, September 19th. KeyCorp analyst T. Rezvan forecasts that the energy exploration company will post earnings of $4.12 per share for the quarter. KeyCorp has a “Overweight” rating and a $157.00 price objective on the stock. The consensus estimate for EOG Resources’ current full-year earnings is $15.65 per share. KeyCorp also issued estimates for EOG Resources’ Q4 2022 earnings at $4.44 EPS, FY2022 earnings at $15.31 EPS, Q1 2023 earnings at $3.84 EPS, Q2 2023 earnings at $3.87 EPS, Q3 2023 earnings at $4.01 EPS, Q4 2023 earnings at $4.11 EPS and FY2023 earnings at $15.83 EPS.

EOG Resources (NYSE:EOGGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.25 by ($1.51). EOG Resources had a net margin of 25.71% and a return on equity of 32.03%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was up 79.0% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Piper Sandler decreased their price target on shares of EOG Resources from $164.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. JPMorgan Chase & Co. raised shares of EOG Resources from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $152.00 to $156.00 in a research report on Thursday, September 15th. Bank of America upped their price target on shares of EOG Resources from $119.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays decreased their price objective on shares of EOG Resources from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.85.

EOG Resources Stock Up 0.1 %

Shares of NYSE EOG opened at $118.35 on Thursday. EOG Resources has a 52-week low of $74.48 and a 52-week high of $147.99. The firm has a fifty day moving average of $114.44 and a 200-day moving average of $118.62. The stock has a market capitalization of $69.36 billion, a PE ratio of 12.14, a P/E/G ratio of 0.25 and a beta of 1.55. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

EOG Resources Increases Dividend

The company also recently announced a special dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $1.50 dividend. This is a boost from EOG Resources’s previous special dividend of $1.00. The ex-dividend date is Wednesday, September 14th. EOG Resources’s dividend payout ratio is 30.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inscription Capital LLC boosted its holdings in EOG Resources by 2.7% during the second quarter. Inscription Capital LLC now owns 7,380 shares of the energy exploration company’s stock worth $815,000 after buying an additional 193 shares in the last quarter. Federated Hermes Inc. boosted its holdings in EOG Resources by 12.7% during the second quarter. Federated Hermes Inc. now owns 42,767 shares of the energy exploration company’s stock worth $4,723,000 after buying an additional 4,809 shares in the last quarter. Private Trust Co. NA bought a new stake in EOG Resources during the second quarter worth approximately $138,000. Brown Advisory Inc. boosted its holdings in EOG Resources by 87.1% during the second quarter. Brown Advisory Inc. now owns 112,319 shares of the energy exploration company’s stock worth $12,405,000 after buying an additional 52,287 shares in the last quarter. Finally, B. Riley Wealth Management Inc. lifted its position in shares of EOG Resources by 7.2% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 5,730 shares of the energy exploration company’s stock valued at $633,000 after acquiring an additional 387 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

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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