Brokers Set Expectations for EOG Resources, Inc.’s Q1 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Analysts at Capital One Financial decreased their Q1 2024 EPS estimates for EOG Resources in a research note issued on Thursday, April 11th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings per share of $2.54 for the quarter, down from their prior estimate of $2.57. The consensus estimate for EOG Resources’ current full-year earnings is $11.95 per share.

A number of other analysts also recently weighed in on the stock. Mizuho upped their target price on shares of EOG Resources from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley increased their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday. Raymond James dropped their price target on shares of EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial dropped their price target on shares of EOG Resources from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Scotiabank downgraded shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and raised their price target for the company from $135.00 to $155.00 in a report on Thursday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $140.90.

EOG Resources Trading Up 0.4 %

NYSE:EOG opened at $132.94 on Monday. The company has a fifty day moving average of $122.23 and a 200 day moving average of $121.84. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $76.47 billion, a P/E ratio of 10.22 and a beta of 1.40.

EOG Resources (NYSE:EOG) last posted its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the previous year, the business earned $3.30 EPS. EOG Resources’s revenue for the quarter was down 5.4% on a year-over-year basis.

Institutional Trading of EOG Resources

Institutional investors have recently modified their holdings of the stock. Capital World Investors boosted its position in EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares during the last quarter. Tejara Capital Ltd purchased a new position in EOG Resources during the fourth quarter worth about $106,000. Charles Schwab Investment Management Inc. raised its stake in EOG Resources by 196.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company’s stock worth $1,175,599,000 after purchasing an additional 6,529,464 shares during the period. Morgan Stanley raised its stake in EOG Resources by 87.8% during the fourth quarter. Morgan Stanley now owns 7,787,281 shares of the energy exploration company’s stock worth $1,008,609,000 after purchasing an additional 3,641,504 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in EOG Resources by 126.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,111,339 shares of the energy exploration company’s stock worth $662,021,000 after purchasing an additional 2,851,839 shares during the period. Institutional investors and hedge funds own 89.91% of the company’s stock.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.74%. EOG Resources’s dividend payout ratio (DPR) is 27.98%.

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.