Zacks Research Lowers Earnings Estimates for EOG Resources

Key Points

• Zacks Research lowered EOG Resources’ Q1 2028 EPS estimate to $2.48 from $2.80 and projects Q2 2028 EPS of $2.77. Despite the reduction, Zacks maintains a “Strong Buy” rating.
• EOG’s latest quarter exceeded expectations, with EPS of $5.07 versus the $4.97 consensus and revenue of $8.62 billion, up 57.4% year over year.
• The stock has a consensus “Hold” rating and an average price target of $161.24, while shares recently traded at $157.79. EOG also declared a quarterly dividend of $1.02 per share, representing a 2.6% yield.

EOG Resources, Inc. (NYSE:EOG - Free Report) - Equities researchers at Zacks Research reduced their Q1 2028 earnings estimates for shares of EOG Resources in a research note issued on Thursday, October 22nd. Zacks Research analyst Team now expects that the energy exploration company will post earnings of $2.48 per share for the quarter, down from their previous estimate of $2.80. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for EOG Resources' current full-year earnings is $17.48 per share. Zacks Research also issued estimates for EOG Resources' Q2 2028 earnings at $2.77 EPS.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the firm earned $2.32 EPS. The business's revenue for the quarter was up 57.4% on a year-over-year basis.

Several other research firms have also commented on EOG. Seaport Research Partners initiated coverage on shares of EOG Resources in a report on Thursday, September 3rd. They issued a "neutral" rating on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $185.00 price objective on shares of EOG Resources in a research note on Saturday, October 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Thursday, September 17th. Capital One Financial downgraded EOG Resources from an "overweight" rating to an "equal weight" rating and set a $153.00 target price on the stock. in a research note on Wednesday, August 26th. Finally, Mizuho set a $165.00 target price on EOG Resources in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $161.24.

EOG Resources Trading Down 0.1%

NYSE EOG opened at $157.79 on Friday. The company has a market capitalization of $82.76 billion, a PE ratio of 12.28, a P/E/G ratio of 0.56 and a beta of 0.36. The company has a fifty day moving average of $147.21 and a 200 day moving average of $140.65. EOG Resources has a 1 year low of $101.59 and a 1 year high of $160.31. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in EOG Resources in the second quarter valued at approximately $5,905,587,000. Bank of New York Mellon Corp purchased a new stake in shares of EOG Resources in the second quarter valued at approximately $654,899,000. Bank of America Corp DE purchased a new stake in shares of EOG Resources in the second quarter valued at approximately $551,321,000. Deutsche Bank AG acquired a new position in shares of EOG Resources during the 2nd quarter worth approximately $251,102,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of EOG Resources by 357.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,971,842 shares of the energy exploration company's stock worth $271,641,000 after buying an additional 1,541,140 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 35,942 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the completion of the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael P. Donaldson sold 7,336 shares of the company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the transaction, the executive vice president owned 100,558 shares of the company's stock, valued at approximately $14,882,584. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 52,317 shares of company stock worth $7,823,480. 0.14% of the stock is owned by company insiders.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 16th. EOG Resources's dividend payout ratio (DPR) is currently 31.75%.

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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