EOG Resources, Inc. (NYSE:EOG) to Post Q1 2024 Earnings of $2.57 Per Share, Capital One Financial Forecasts

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Capital One Financial increased their Q1 2024 earnings per share estimates for EOG Resources in a report issued on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now anticipates that the energy exploration company will post earnings per share of $2.57 for the quarter, up from their previous forecast of $2.21. The consensus estimate for EOG Resources’ current full-year earnings is $11.85 per share. Capital One Financial also issued estimates for EOG Resources’ Q2 2024 earnings at $3.02 EPS, Q3 2024 earnings at $3.06 EPS, Q4 2024 earnings at $3.10 EPS, FY2024 earnings at $11.74 EPS and FY2025 earnings at $12.39 EPS.

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

Several other equities research analysts also recently issued reports on the company. KeyCorp reduced their price objective on EOG Resources from $157.00 to $147.00 and set an “overweight” rating for the company in a research note on Thursday, January 11th. Citigroup increased their price objective on EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Truist Financial cut their price target on EOG Resources from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler cut their price target on EOG Resources from $153.00 to $141.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Monday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.10.

EOG Resources Trading Down 0.3 %

Shares of EOG stock opened at $135.47 on Monday. The stock has a 50-day simple moving average of $119.48 and a 200 day simple moving average of $121.48. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $136.79. The stock has a market capitalization of $77.93 billion, a P/E ratio of 10.41 and a beta of 1.40. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

EOG Resources Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EOG. Capital World Investors increased its position in EOG Resources by 59.2% in the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after buying an additional 9,455,621 shares during the period. Tejara Capital Ltd bought a new position in EOG Resources in the 4th quarter worth approximately $106,000. Charles Schwab Investment Management Inc. increased its position in EOG Resources by 196.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company’s stock worth $1,175,599,000 after buying an additional 6,529,464 shares during the period. Morgan Stanley increased its position in EOG Resources by 87.8% in the 4th quarter. Morgan Stanley now owns 7,787,281 shares of the energy exploration company’s stock worth $1,008,609,000 after buying an additional 3,641,504 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in EOG Resources by 126.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,111,339 shares of the energy exploration company’s stock worth $662,021,000 after buying an additional 2,851,839 shares during the period. 89.91% of the stock is owned by institutional investors.

About EOG Resources

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.