Equities Analysts Offer Predictions for EOG Resources, Inc.'s Q1 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG - Free Report) - Research analysts at Capital One Financial dropped their Q1 2024 earnings per share (EPS) estimates for shares of EOG Resources in a research note issued to investors on Thursday, April 11th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings of $2.54 per share for the quarter, down from their prior forecast of $2.57. The consensus estimate for EOG Resources' current full-year earnings is $11.95 per share.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler lowered their target price on shares of EOG Resources from $153.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, March 7th. JPMorgan Chase & Co. upped their price target on shares of EOG Resources from $134.00 to $141.00 and gave the stock a "neutral" rating in a report on Thursday, March 28th. Barclays began coverage on shares of EOG Resources in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $144.00 price target on the stock. Stifel Nicolaus lowered their price target on EOG Resources from $163.00 to $153.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. Finally, KeyCorp decreased their price objective on EOG Resources from $157.00 to $147.00 and set an "overweight" rating on the stock in a report on Thursday, January 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources has an average rating of "Hold" and an average price target of $140.90.

EOG Resources Stock Performance

EOG stock traded down $1.98 during midday trading on Monday, reaching $132.39. 2,976,036 shares of the company's stock traded hands, compared to its average volume of 3,464,123. The company has a 50-day moving average price of $121.81 and a two-hundred day moving average price of $121.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The firm has a market capitalization of $76.15 billion, a PE ratio of 10.18 and a beta of 1.40.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS for the quarter, missing analysts' consensus estimates 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 previous year, the firm earned $3.30 earnings per share. The business's quarterly revenue was down 5.4% on a year-over-year basis.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a $0.91 dividend. The ex-dividend date is 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 27.98%.

Hedge Funds Weigh In On EOG Resources

Several large investors have recently made changes to their positions in the stock. Fortis Capital Advisors LLC purchased a new stake in shares of EOG Resources in the 4th quarter valued at approximately $28,000. Lumature Wealth Partners LLC purchased a new position in shares of EOG Resources in the 1st quarter valued at $28,000. McIlrath & Eck LLC grew its position in shares of EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company's stock valued at $30,000 after buying an additional 104 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of EOG Resources by 530.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company's stock valued at $30,000 after buying an additional 212 shares during the last quarter. Finally, Peoples Bank KS purchased a new position in shares of EOG Resources in the 3rd quarter valued at $31,000. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.