FY2024 EPS Estimates for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Equities researchers at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of EOG Resources in a research report issued on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the energy exploration company will earn $11.21 per share for the year, down from their prior forecast of $11.27. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.51 EPS, Q3 2025 earnings at $2.71 EPS and Q4 2026 earnings at $3.13 EPS.

Several other research analysts also recently weighed in on EOG. Truist Financial boosted their target price on EOG Resources from $115.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research raised EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Citigroup increased their price objective on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $143.71.

EOG Resources Stock Up 0.6 %

Shares of EOG Resources stock opened at $128.31 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market cap of $72.17 billion, a P/E ratio of 10.33, a PEG ratio of 3.39 and a beta of 1.29. The firm’s 50 day moving average price is $127.63 and its 200-day moving average price is $126.63. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to buy up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at EOG Resources

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On EOG Resources

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in shares of EOG Resources by 64.7% in the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock worth $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of EOG Resources by 856.7% in the 3rd quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company’s stock worth $147,621,000 after buying an additional 1,075,334 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in EOG Resources during the second quarter worth about $106,990,000. Legal & General Group Plc grew its holdings in shares of EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock worth $609,300,000 after acquiring an additional 403,676 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of EOG Resources by 42.8% during the third quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company’s stock valued at $136,874,000 after acquiring an additional 333,947 shares during the period. 89.91% of the stock is currently owned by hedge funds and other 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.