Zacks Research Expects Increased Earnings for EOG Resources

EOG Resources, Inc. (NYSE:EOG) – Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of EOG Resources in a research report issued to clients and investors on Thursday, February 13th. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings of $11.29 per share for the year, up from their previous forecast of $11.23. The consensus estimate for EOG Resources’ current full-year earnings is $11.46 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.42 EPS, Q1 2025 earnings at $2.81 EPS, Q2 2025 earnings at $2.76 EPS, Q3 2025 earnings at $2.88 EPS and FY2025 earnings at $11.42 EPS.

Other equities analysts have also issued reports about the company. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Piper Sandler raised their target price on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Raymond James raised their target price on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.14.

EOG Resources Stock Performance

NYSE EOG opened at $130.92 on Monday. The firm has a market capitalization of $73.63 billion, a P/E ratio of 10.54, a P/E/G ratio of 3.36 and a beta of 1.27. EOG Resources has a 1-year low of $109.06 and a 1-year high of $139.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The business’s 50-day simple moving average is $127.82 and its 200-day simple moving average is $127.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management boosted its position in EOG Resources by 15,497.9% during the 4th quarter. Neo Ivy Capital Management now owns 22,461 shares of the energy exploration company’s stock valued at $2,753,000 after purchasing an additional 22,317 shares during the period. Vise Technologies Inc. boosted its position in EOG Resources by 103.6% during the 4th quarter. Vise Technologies Inc. now owns 14,993 shares of the energy exploration company’s stock valued at $1,838,000 after purchasing an additional 7,629 shares during the period. Inspire Trust Co. N.A. boosted its position in EOG Resources by 13.2% during the 4th quarter. Inspire Trust Co. N.A. now owns 8,600 shares of the energy exploration company’s stock valued at $1,054,000 after purchasing an additional 1,000 shares during the period. 10Elms LLP acquired a new position in EOG Resources during the 4th quarter valued at approximately $44,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in EOG Resources by 13.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 108,886 shares of the energy exploration company’s stock valued at $13,347,000 after purchasing an additional 12,997 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the transaction, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

EOG Resources declared that its board has initiated a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.