Jefferies Group Brokers Decrease Earnings Estimates for EOG Resources, Inc. (EOG)
EOG Resources, Inc. (NYSE:EOG) – Analysts at Jefferies Group cut their Q2 2017 earnings per share (EPS) estimates for shares of EOG Resources in a research note issued on Wednesday. Jefferies Group analyst M. Hsu now expects that the energy exploration company will post earnings per share of $0.03 for the quarter, down from their previous forecast of $0.13. Jefferies Group currently has a “Hold” rating and a $95.00 target price on the stock. Jefferies Group also issued estimates for EOG Resources’ FY2017 earnings at $0.94 EPS, Q4 2018 earnings at $0.64 EPS and FY2018 earnings at $1.94 EPS.
EOG has been the topic of several other research reports. Stifel Nicolaus restated a “buy” rating and set a $111.00 price target on shares of EOG Resources in a research note on Friday, May 26th. Scotiabank restated a “hold” rating and set a $109.00 price target on shares of EOG Resources in a research note on Tuesday, May 16th. Credit Suisse Group set a $108.00 price target on shares of EOG Resources and gave the stock a “hold” rating in a research note on Friday, June 2nd. Iberia Capital increased their price target on shares of EOG Resources from $109.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, April 3rd. Finally, Wells Fargo & Company upgraded shares of EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $108.59.
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Shares of EOG Resources (NYSE EOG) opened at 92.91 on Friday. EOG Resources has a 12 month low of $78.04 and a 12 month high of $109.37. The stock’s market capitalization is $53.63 billion. The company’s 50-day moving average is $89.73 and its 200-day moving average is $95.44.
EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Monday, May 8th. The energy exploration company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. EOG Resources had a negative net margin of 6.70% and a negative return on equity of 2.69%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company earned ($0.83) EPS. The firm’s revenue was up 92.8% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in EOG. Quantitative Systematic Strategies LLC increased its position in EOG Resources by 506.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 25,050 shares of the energy exploration company’s stock worth $2,255,000 after buying an additional 20,919 shares during the last quarter. Duncker Streett & Co. Inc. increased its position in EOG Resources by 12.5% in the second quarter. Duncker Streett & Co. Inc. now owns 6,750 shares of the energy exploration company’s stock worth $611,000 after buying an additional 750 shares during the last quarter. Private Bank & Trust Co. acquired a new position in EOG Resources during the second quarter worth approximately $273,000. Hermes Investment Management Ltd. acquired a new position in EOG Resources during the second quarter worth approximately $210,000. Finally, Financial Architects Inc increased its position in EOG Resources by 85.1% in the second quarter. Financial Architects Inc now owns 5,550 shares of the energy exploration company’s stock worth $503,000 after buying an additional 2,552 shares during the last quarter. 84.86% of the stock is owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be issued a dividend of $0.1675 per share. This represents a $0.67 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, July 13th. EOG Resources’s payout ratio is -62.04%.
EOG Resources Company Profile
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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