EOG Resources FY2024 EPS Boosted by Capital One Financial

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Capital One Financial lifted their FY2024 earnings estimates for shares of EOG Resources in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings per share of $11.40 for the year, up from their prior forecast of $11.37. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.53 EPS.

Several other research firms have also commented on EOG. UBS Group reduced their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Mizuho reduced their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Evercore ISI reduced their price target on shares of EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $150.00 price target on shares of EOG Resources in a research report on Monday, January 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.71.

EOG Resources Stock Up 2.4 %

EOG stock opened at $131.54 on Friday. The firm has a market cap of $73.98 billion, a PE ratio of 10.59, a PEG ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm’s 50 day moving average price is $127.97 and its 200-day moving average price is $126.69. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in EOG Resources by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,411,032 shares of the energy exploration company’s stock valued at $2,140,338,000 after purchasing an additional 75,194 shares in the last quarter. Geode Capital Management LLC grew its position in EOG Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 12,315,735 shares of the energy exploration company’s stock valued at $1,513,446,000 after purchasing an additional 180,755 shares in the last quarter. Ameriprise Financial Inc. grew its position in EOG Resources by 2.2% during the second quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock valued at $1,549,098,000 after purchasing an additional 260,727 shares in the last quarter. Franklin Resources Inc. grew its position in EOG Resources by 64.7% during the third quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company’s stock valued at $694,717,000 after purchasing an additional 2,076,134 shares in the last quarter. Finally, Legal & General Group Plc grew its position in EOG Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company’s stock valued at $609,300,000 after purchasing an additional 403,676 shares in the last quarter. 89.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EOG Resources

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

EOG Resources declared that its Board of Directors has approved a share buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. 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 annualized dividend and a yield of 2.96%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

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.