Zacks Research Brokers Increase Earnings Estimates for EOG Resources, Inc. (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG - Free Report) - Research analysts at Zacks Research boosted their Q1 2024 EPS estimates for EOG Resources in a research report issued on Monday, April 29th. Zacks Research analyst U. Dutta now expects that the energy exploration company will earn $2.65 per share for the quarter, up from their previous estimate of $2.64. The consensus estimate for EOG Resources' current full-year earnings is $12.32 per share. Zacks Research also issued estimates for EOG Resources' Q4 2024 earnings at $2.97 EPS, Q3 2025 earnings at $3.33 EPS, Q4 2025 earnings at $2.98 EPS and FY2025 earnings at $12.80 EPS.

EOG has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on shares of EOG Resources from $134.00 to $141.00 and gave the company a "neutral" rating in a research note on Thursday, March 28th. TD Securities reduced their price objective on shares of EOG Resources from $135.00 to $130.00 and set a "hold" rating on the stock in a research note on Friday, February 23rd. Barclays initiated coverage on shares of EOG Resources in a research note on Wednesday, April 10th. They issued an "equal weight" rating and a $144.00 price objective on the stock. Bank of America cut shares of EOG Resources from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $147.00 to $140.00 in a research note on Friday, January 5th. Finally, Raymond James reduced their price objective on shares of EOG Resources from $148.00 to $145.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 24th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $142.27.

EOG Resources Price Performance

Shares of EOG traded down $2.18 during mid-day trading on Wednesday, hitting $129.95. 3,408,093 shares of the company traded hands, compared to its average volume of 3,353,959. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $126.80 and a 200 day moving average of $122.53. The stock has a market capitalization of $74.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.40.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS 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 company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the company earned $3.30 earnings per share. EOG Resources's revenue for the quarter was down 5.4% compared to the same quarter last year.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a dividend of $0.91 per share. The ex-dividend date was Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.80%. EOG Resources's payout ratio is 27.98%.

Institutional Investors Weigh In On EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors increased its stake in EOG Resources by 59.2% in the 4th quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company's stock valued at $3,074,660,000 after buying an additional 9,455,621 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in EOG Resources by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,937,070 shares of the energy exploration company's stock valued at $1,639,903,000 after buying an additional 145,691 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of EOG Resources by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company's stock valued at $1,462,966,000 after acquiring an additional 892,951 shares during the period. Morgan Stanley grew its position in shares of EOG Resources by 1.5% in the 3rd quarter. Morgan Stanley now owns 7,789,774 shares of the energy exploration company's stock valued at $987,432,000 after acquiring an additional 116,860 shares during the period. Finally, Northern Trust Corp grew its position in shares of EOG Resources by 3.1% in the 3rd quarter. Northern Trust Corp now owns 6,260,706 shares of the energy exploration company's stock valued at $793,607,000 after acquiring an additional 185,882 shares during the period. 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.