EOG Resources, Inc. to Post Q2 2024 Earnings of $3.07 Per Share, Capital One Financial Forecasts (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG - Free Report) - Capital One Financial raised their Q2 2024 EPS estimates for EOG Resources in a report issued on Wednesday, May 15th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings per share of $3.07 for the quarter, up from their prior estimate of $3.03. The consensus estimate for EOG Resources' current full-year earnings is $12.12 per share. Capital One Financial also issued estimates for EOG Resources' Q3 2024 earnings at $3.19 EPS, Q4 2024 earnings at $3.29 EPS and FY2024 earnings at $12.37 EPS.

A number of other research analysts have also issued reports on EOG. Truist Financial lowered shares of EOG Resources from a "buy" rating to a "hold" rating and dropped their price objective for the company from $163.00 to $136.00 in a report on Thursday. StockNews.com raised shares of EOG Resources from a "hold" rating to a "buy" rating in a research note on Thursday, May 9th. TD Securities lowered their target price on EOG Resources from $135.00 to $130.00 and set a "hold" rating for the company in a research report on Friday, February 23rd. Citigroup upped their price target on EOG Resources from $120.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price objective on EOG Resources from $134.00 to $141.00 and gave the stock a "neutral" rating in a research note on Thursday, March 28th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $141.82.

EOG Resources Price Performance

EOG traded down $1.17 on Thursday, reaching $127.92. The stock had a trading volume of 2,615,372 shares, compared to its average volume of 3,350,988. The firm has a 50-day moving average of $129.88 and a 200-day moving average of $122.41. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $139.67. The company has a market capitalization of $73.52 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.12. EOG Resources had a return on equity of 24.83% and a net margin of 30.33%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $2.69 EPS. The company's revenue was up 1.3% compared to the same quarter last year.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $3.64 annualized dividend and a yield of 2.85%. EOG Resources's payout ratio is 28.75%.

Insider Activity at EOG Resources

In related news, President Lloyd W. Helms, Jr. sold 1,296 shares of EOG Resources stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total transaction of $168,829.92. Following the transaction, the president now owns 161,109 shares of the company's stock, valued at $20,987,669.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other EOG Resources news, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the sale, the chief operating officer now owns 39,054 shares in the company, valued at approximately $5,079,753.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the transaction, the president now owns 161,109 shares in the company, valued at approximately $20,987,669.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,783 shares of company stock valued at $1,533,465. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of EOG Resources

Hedge funds have recently bought and sold shares of the business. Capital World Investors raised its stake in shares of EOG Resources by 59.2% in the fourth 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 period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in EOG Resources by 26.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company's stock valued at $598,475,000 after acquiring an additional 1,029,727 shares during the period. Qube Research & Technologies Ltd lifted its holdings in EOG Resources by 863.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,100,068 shares of the energy exploration company's stock valued at $139,445,000 after purchasing an additional 985,884 shares during the last quarter. Ameriprise Financial Inc. boosted its position in EOG Resources by 8.4% during the third quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company's stock worth $1,462,966,000 after purchasing an additional 892,951 shares during the period. Finally, Capital International Investors increased its stake in shares of EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock worth $1,478,401,000 after purchasing an additional 766,056 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.