EOG Resources, Inc. (NYSE:EOG) Expected to Earn Q3 2024 Earnings of $2.83 Per Share

EOG Resources, Inc. (NYSE:EOG) – Analysts at Capital One Financial lowered their Q3 2024 earnings estimates for shares of EOG Resources in a report released on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings per share of $2.83 for the quarter, down from their prior forecast of $3.21. The consensus estimate for EOG Resources’ current full-year earnings is $12.20 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.65 EPS, FY2024 earnings at $11.45 EPS, Q1 2025 earnings at $2.46 EPS, Q2 2025 earnings at $2.58 EPS, Q3 2025 earnings at $2.69 EPS, Q4 2025 earnings at $2.73 EPS, FY2025 earnings at $10.45 EPS and FY2026 earnings at $11.83 EPS.

EOG Resources (NYSE:EOG) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein decreased their price target on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Piper Sandler cut their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Susquehanna dropped their target price on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Fourteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $142.89.

EOG Resources Stock Performance

NYSE EOG opened at $126.03 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The firm has a market capitalization of $72.43 billion, a P/E ratio of 9.95, a P/E/G ratio of 2.95 and a beta of 1.28. The business’s 50-day simple moving average is $125.65 and its 200-day simple moving average is $126.56.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 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 of this dividend is Thursday, October 17th. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $126.48, for a total value of $505,920.00. Following the completion of the transaction, the chief operating officer now owns 35,058 shares in the company, valued at approximately $4,434,135.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the sale, the director now owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the completion of the transaction, the chief operating officer now directly owns 35,058 shares in the company, valued at approximately $4,434,135.84. The disclosure for this sale can be found here. Insiders have sold 21,537 shares of company stock worth $2,751,612 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EOG Resources

Several institutional investors have recently made changes to their positions in EOG. Riverview Trust Co bought a new position in EOG Resources during the 2nd quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the 2nd quarter valued at about $28,000. Gladius Capital Management LP acquired a new position in EOG Resources during the 2nd quarter valued at about $30,000. Sachetta LLC bought a new position in EOG Resources in the 4th quarter worth about $33,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of EOG Resources in the second quarter valued at approximately $35,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Company Profile

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.