EOG Resources, Inc. Expected to Earn Q1 2024 Earnings of $2.65 Per Share (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for EOG Resources in a research report issued to clients and investors on Monday, April 29th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will post earnings of $2.65 per share for the quarter, up from their prior estimate of $2.64. The consensus estimate for EOG Resources’ current full-year earnings is $12.32 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.97 EPS, Q3 2025 earnings at $3.33 EPS, Q4 2025 earnings at $2.98 EPS and FY2025 earnings at $12.80 EPS.

Several other analysts have also commented on EOG. Barclays started coverage on EOG Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 price target on the stock. TD Cowen boosted their price target on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday. Susquehanna boosted their price target on EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. TD Securities reduced their price objective on EOG Resources from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, Morgan Stanley boosted their price objective on EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $142.27.

EOG Resources Price Performance

Shares of EOG stock opened at $132.13 on Wednesday. The stock’s fifty day simple moving average is $126.53 and its 200 day simple moving average is $122.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13. The firm has a market cap of $76.00 billion, a price-to-earnings ratio of 10.16 and a beta of 1.40. EOG Resources has a one year low of $106.32 and a one year high of $139.67.

EOG Resources (NYSE:EOG) last released 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). The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 earnings per share.

Institutional Investors Weigh In On EOG Resources

Large investors have recently modified their holdings of the business. McIlrath & Eck LLC increased its holdings in shares of EOG Resources by 77.6% in the third quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 104 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of EOG Resources by 530.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after acquiring an additional 212 shares in the last quarter. Peoples Bank KS bought a new stake in shares of EOG Resources in the third quarter worth about $31,000. Sachetta LLC bought a new stake in shares of EOG Resources in the fourth quarter worth about $33,000. Finally, Hall Laurie J Trustee bought a new stake in shares of EOG Resources in the fourth quarter worth about $36,000. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.64 annualized dividend and a dividend yield of 2.75%. EOG Resources’s dividend payout ratio (DPR) is currently 27.98%.

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.