EOG Resources, Inc. to Post Q2 2024 Earnings of $2.96 Per Share, Zacks Research Forecasts (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research increased their Q2 2024 earnings estimates for shares of EOG Resources in a research report issued to clients and investors on Monday, April 29th. Zacks Research analyst U. Dutta now expects that the energy exploration company will post earnings of $2.96 per share for the quarter, up from their previous estimate of $2.89. The consensus estimate for EOG Resources’ current full-year earnings is $12.30 per share. Zacks Research also issued estimates for EOG Resources’ Q3 2024 earnings at $3.18 EPS, FY2024 earnings at $11.76 EPS, Q1 2025 earnings at $3.41 EPS, Q2 2025 earnings at $3.08 EPS, Q1 2026 earnings at $3.22 EPS and FY2026 earnings at $14.14 EPS.

EOG has been the topic of several other research reports. Citigroup upped their price target on EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Raymond James lowered their target price on shares of EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Tuesday, April 9th. Finally, Susquehanna increased their price objective on EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources has an average rating of “Moderate Buy” and a consensus target price of $142.19.

EOG Resources Trading Up 0.4 %

NYSE EOG opened at $136.25 on Tuesday. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The firm has a 50 day simple moving average of $126.15 and a 200-day simple moving average of $122.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The firm has a market cap of $78.37 billion, a price-to-earnings ratio of 10.47 and a beta of 1.40.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The business had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the business posted $3.30 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.67%. EOG Resources’s dividend payout ratio (DPR) is 27.98%.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds have recently added to or reduced their stakes in EOG. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of EOG Resources in the third quarter valued at approximately $4,431,000. TIAA Trust National Association increased its holdings in shares of EOG Resources by 639.3% in the 4th quarter. TIAA Trust National Association now owns 57,636 shares of the energy exploration company’s stock valued at $6,971,000 after purchasing an additional 49,840 shares in the last quarter. AIA Group Ltd boosted its holdings in EOG Resources by 128.0% during the fourth quarter. AIA Group Ltd now owns 10,203 shares of the energy exploration company’s stock worth $1,234,000 after buying an additional 5,728 shares in the last quarter. L. Roy Papp & Associates LLP grew its position in EOG Resources by 18.3% during the fourth quarter. L. Roy Papp & Associates LLP now owns 168,354 shares of the energy exploration company’s stock worth $20,362,000 after buying an additional 26,026 shares during the period. Finally, Yacktman Asset Management LP grew its stake in EOG Resources by 4.8% during the 4th quarter. Yacktman Asset Management LP now owns 1,789,433 shares of the energy exploration company’s stock worth $216,432,000 after buying an additional 82,302 shares during the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

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.