FY2024 EPS Estimate for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for EOG Resources in a report issued on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings per share of $11.21 for the year, down from their previous estimate of $11.27. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.34 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.51 EPS, Q3 2025 earnings at $2.71 EPS and Q4 2026 earnings at $3.13 EPS.

EOG has been the subject of several other research reports. Barclays lowered their price target on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Mizuho lowered their price target on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Citigroup lifted their price target on EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Scotiabank lowered their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Raymond James lifted their price objective on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $143.71.

EOG Resources Price Performance

EOG opened at $131.54 on Thursday. The stock has a 50-day moving average price of $127.97 and a 200-day moving average price of $126.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The firm has a market cap of $73.98 billion, a PE ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. EOG Resources’s payout ratio is 29.31%.

EOG Resources declared that its board has approved a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at EOG Resources

In related news, Director Janet F. Clark sold 568 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Graypoint LLC lifted its holdings in EOG Resources by 13.3% in the 4th quarter. Graypoint LLC now owns 4,579 shares of the energy exploration company’s stock worth $561,000 after purchasing an additional 536 shares in the last quarter. LVM Capital Management Ltd. MI lifted its holdings in EOG Resources by 135.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 81,762 shares of the energy exploration company’s stock worth $10,022,000 after purchasing an additional 46,991 shares in the last quarter. Watts Gwilliam & Co. LLC lifted its holdings in EOG Resources by 227.5% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 5,689 shares of the energy exploration company’s stock worth $726,000 after purchasing an additional 3,952 shares in the last quarter. Douglas Lane & Associates LLC lifted its holdings in EOG Resources by 2.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock worth $62,699,000 after purchasing an additional 10,404 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in EOG Resources by 25.6% in the 4th quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock worth $646,000 after purchasing an additional 1,073 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

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.