Q1 2024 EPS Estimates for EOG Resources, Inc. (NYSE:EOG) Raised by Capital One Financial

EOG Resources, Inc. (NYSE:EOG - Free Report) - Stock analysts at Capital One Financial raised their Q1 2024 EPS estimates for EOG Resources in a research report issued on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings per share of $2.57 for the quarter, up from their previous estimate of $2.21. The consensus estimate for EOG Resources' current full-year earnings is $11.85 per share. Capital One Financial also issued estimates for EOG Resources' Q2 2024 earnings at $3.02 EPS, Q3 2024 earnings at $3.06 EPS, Q4 2024 earnings at $3.10 EPS, FY2024 earnings at $11.74 EPS and FY2025 earnings at $12.39 EPS.

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

A number of other equities analysts have also recently commented on the stock. Susquehanna reduced their price objective on shares of EOG Resources from $164.00 to $147.00 and set a "positive" rating for the company in a research report on Friday, January 26th. Wells Fargo & Company cut shares of EOG Resources from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $150.00 to $130.00 in a research report on Thursday, December 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $145.00 price objective on shares of EOG Resources in a research report on Monday, March 4th. Morgan Stanley lifted their price objective on shares of EOG Resources from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 28th. Finally, Mizuho reduced their price objective on shares of EOG Resources from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Wednesday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.10.

EOG Resources Stock Down 0.3 %

Shares of NYSE:EOG traded down $0.47 during midday trading on Monday, hitting $135.47. The stock had a trading volume of 3,837,567 shares, compared to its average volume of 3,494,760. 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 business's 50-day simple moving average is $119.48 and its 200-day simple moving average is $121.48. EOG Resources has a 12 month low of $106.32 and a 12 month high of $136.79. The company has a market cap of $77.93 billion, a P/E ratio of 10.41 and a beta of 1.40.

EOG Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, April 15th. EOG Resources's dividend payout ratio (DPR) is presently 27.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its stake 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 in the last quarter. Tejara Capital Ltd acquired 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 acquiring an additional 6,529,464 shares in the last quarter. Morgan Stanley grew its holdings in shares of 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 last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 89.91% of the company's stock.

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.