FY2022 Earnings Forecast for EOG Resources, Inc. Issued By Capital One Financial (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOGGet Rating) – Investment analysts at Capital One Financial dropped their FY2022 earnings per share (EPS) estimates for shares of EOG Resources in a report issued on Monday, January 23rd. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings of $13.85 per share for the year, down from their prior forecast of $14.10. The consensus estimate for EOG Resources’ current full-year earnings is $13.84 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2022 earnings at $3.39 EPS, Q1 2023 earnings at $2.65 EPS, Q2 2023 earnings at $2.80 EPS and FY2023 earnings at $11.51 EPS.

EOG Resources (NYSE:EOGGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The energy exploration company reported $3.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.75 by ($0.04). The business had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.19 billion. EOG Resources had a return on equity of 35.36% and a net margin of 29.84%.

Other research analysts also recently issued reports about the company. Cfra raised EOG Resources from a “market weight” rating to an “overweight” rating in a research note on Thursday, September 29th. StockNews.com started coverage on EOG Resources in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup increased their target price on EOG Resources from $150.00 to $160.00 in a report on Tuesday, November 22nd. Royal Bank of Canada upped their price objective on shares of EOG Resources from $155.00 to $158.00 and gave the stock a “sector perform” rating in a report on Friday, November 11th. Finally, Wells Fargo & Company started coverage on shares of EOG Resources in a research note on Tuesday. They issued an “overweight” rating on the stock. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.14.

EOG Resources Price Performance

Shares of NYSE EOG opened at $132.76 on Tuesday. The firm has a market capitalization of $77.98 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.34 and a beta of 1.53. The firm’s 50-day moving average price is $131.67 and its 200-day moving average price is $124.08. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.16. EOG Resources has a 1-year low of $92.16 and a 1-year high of $150.88.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, January 13th. This represents a $3.30 annualized dividend and a dividend yield of 2.49%. This is a boost from EOG Resources’s previous quarterly dividend of $0.75. EOG Resources’s dividend payout ratio (DPR) is currently 25.92%.

Insiders Place Their Bets

In other EOG Resources news, EVP Kenneth W. Boedeker sold 1,995 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $145.09, for a total value of $289,454.55. Following the transaction, the executive vice president now owns 20,978 shares of the company’s stock, valued at $3,043,698.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kenneth W. Boedeker sold 1,995 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $145.09, for a total transaction of $289,454.55. Following the completion of the transaction, the executive vice president now owns 20,978 shares in the company, valued at $3,043,698.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Lloyd W. Helms, Jr. sold 5,455 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $141.68, for a total transaction of $772,864.40. Following the sale, the chief operating officer now owns 151,917 shares of the company’s stock, valued at approximately $21,523,600.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,170 shares of company stock valued at $1,459,657. Insiders own 0.40% of the company’s stock.

Institutional Trading of EOG Resources

Hedge funds have recently made changes to their positions in the company. HM Payson & Co. lifted its holdings in EOG Resources by 54.3% during the third quarter. HM Payson & Co. now owns 233 shares of the energy exploration company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Lumature Wealth Partners LLC purchased a new stake in EOG Resources during the first quarter valued at about $28,000. Miller Wealth Advisors LLC boosted its holdings in EOG Resources by 126.1% in the 2nd quarter. Miller Wealth Advisors LLC now owns 269 shares of the energy exploration company’s stock worth $30,000 after buying an additional 150 shares during the period. Larson Financial Group LLC bought a new position in EOG Resources in the 3rd quarter worth approximately $31,000. Finally, Eagle Bay Advisors LLC bought a new position in EOG Resources in the 2nd quarter worth approximately $33,000. 87.40% 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.

Further Reading

Earnings History and Estimates for EOG Resources (NYSE:EOG)

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