EOG Resources, Inc. Expected to Earn Q3 2024 Earnings of $3.09 Per Share (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for shares of EOG Resources in a research report issued on Tuesday, June 25th. Zacks Research analyst U. Dutta now expects that the energy exploration company will post earnings per share of $3.09 for the quarter, down from their previous estimate of $3.18. The consensus estimate for EOG Resources’ current full-year earnings is $11.99 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.88 EPS, FY2024 earnings at $11.70 EPS and Q4 2025 earnings at $3.04 EPS.

Several other analysts have also recently commented on EOG. Citigroup raised their target price on EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 24th. TD Cowen lifted their price objective on EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research note on Tuesday, April 9th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Scotiabank downgraded EOG Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Thursday, April 11th. Thirteen investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $143.19.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $125.87 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $72.34 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.73 and a beta of 1.32. The stock’s fifty day simple moving average is $126.28 and its 200 day simple moving average is $122.38. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67.

EOG Resources (NYSE:EOG) last issued its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the firm earned $2.69 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis.

EOG Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, July 17th. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

Insider Buying and Selling

In related news, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the sale, the president now directly owns 161,109 shares in the company, valued at approximately $20,987,669.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ezra Y. Yacob sold 4,729 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the sale, the chief executive officer now owns 150,474 shares in the company, valued at $19,457,792.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,512 shares of company stock valued at $2,144,972. Company insiders own 0.30% of the company’s stock.

Institutional Trading of EOG Resources

Several institutional investors and hedge funds have recently made changes to their positions in EOG. Vanguard Group Inc. raised its position in EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock worth $6,938,635,000 after purchasing an additional 146,674 shares during the period. Capital Research Global Investors raised its position in EOG Resources by 1.3% in the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after purchasing an additional 373,365 shares during the period. Capital World Investors raised its position in EOG Resources by 5.4% in the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares during the period. Capital International Investors raised its position in EOG Resources by 7.1% in the 1st quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company’s stock worth $1,478,401,000 after purchasing an additional 766,056 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in EOG Resources by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock worth $1,462,966,000 after acquiring an additional 892,951 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.