Zacks Research Comments on EOG Resources, Inc.’s Q3 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOGFree Report) – Research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of EOG Resources in a research report issued on Tuesday, June 4th. Zacks Research analyst D. Bhowal now forecasts that the energy exploration company will earn $3.18 per share for the quarter, down from their prior forecast of $3.20. The consensus estimate for EOG Resources’ current full-year earnings is $12.14 per share. Zacks Research also issued estimates for EOG Resources’ FY2024 earnings at $11.94 EPS, Q2 2025 earnings at $3.12 EPS, Q4 2025 earnings at $3.06 EPS and Q1 2026 earnings at $2.74 EPS.

Other equities analysts have also issued research reports about the stock. Citigroup lifted their price target on shares of EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 24th. Mizuho boosted their price target on EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial downgraded EOG Resources from a “buy” rating to a “hold” rating and cut their price objective for the stock from $163.00 to $136.00 in a report on Thursday, May 16th. Barclays assumed coverage on EOG Resources in a report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 target price for the company. Finally, Susquehanna raised their price target on shares of EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Fifteen investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.09.

View Our Latest Research Report on EOG Resources

EOG Resources Price Performance

EOG opened at $121.21 on Friday. EOG Resources has a 1 year low of $106.34 and a 1 year high of $139.67. The company’s 50 day simple moving average is $130.06 and its 200 day simple moving average is $122.43. The stock has a market capitalization of $69.66 billion, a PE ratio of 9.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.05 and a current ratio of 2.32.

EOG Resources (NYSE:EOGGet Free Report) last released its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.12. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.69 earnings per share.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently added to or reduced their stakes in the business. McIlrath & Eck LLC grew its holdings in shares of EOG Resources by 77.6% during the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in EOG Resources by 530.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after buying an additional 212 shares during the last quarter. Sachetta LLC acquired a new stake in EOG Resources in the fourth quarter worth $33,000. Norwood Financial Corp bought a new stake in EOG Resources in the first quarter valued at $37,000. Finally, Hall Laurie J Trustee acquired a new position in shares of EOG Resources during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 2,685 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $130.29, for a total value of $349,828.65. Following the sale, the executive vice president now directly owns 109,040 shares of the company’s stock, valued at $14,206,821.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Michael P. Donaldson sold 2,685 shares of EOG Resources stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $130.29, for a total value of $349,828.65. Following the completion of the transaction, the executive vice president now directly owns 109,040 shares in the company, valued at $14,206,821.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $130.07, for a total value of $1,014,806.14. Following the sale, the chief operating officer now owns 39,054 shares in the company, valued at approximately $5,079,753.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,512 shares of company stock valued at $2,144,972. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is currently 28.75%.

EOG Resources Company Profile

(Get Free Report)

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.

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

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