Analysts Set Expectations for EOG Resources, Inc.’s Q3 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Equities research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of EOG Resources in a research note issued on Tuesday, June 25th. Zacks Research analyst U. Dutta now anticipates that the energy exploration company will earn $3.09 per share for the quarter, down from their previous forecast of $3.18. The consensus estimate for EOG Resources’ current full-year earnings is $12.02 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.88 EPS, FY2024 earnings at $11.70 EPS and Q4 2025 earnings at $3.04 EPS.

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

Several other equities analysts have also issued reports on EOG. JPMorgan Chase & Co. lifted their price objective on shares of EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. KeyCorp began coverage on shares of EOG Resources in a research note on Thursday. They set an “overweight” rating and a $157.00 price objective for the company. Piper Sandler lifted their price objective on shares of EOG Resources from $153.00 to $154.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Bank of America reiterated a “buy” rating and set a $151.00 price objective on shares of EOG Resources in a research note on Friday, June 14th. Finally, StockNews.com upgraded shares of EOG Resources from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Thirteen 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. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and an average target price of $143.19.

EOG Resources Stock Up 0.0 %

Shares of NYSE:EOG opened at $124.60 on Thursday. 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 has a 12 month low of $107.99 and a 12 month high of $139.67. The company has a 50-day moving average price of $126.56 and a 200 day moving average price of $122.32. The company has a market cap of $71.61 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.74 and a beta of 1.32.

Institutional Investors Weigh In On EOG Resources

Large investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC grew its holdings in shares of EOG Resources by 77.6% during the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of EOG Resources by 530.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Sachetta LLC acquired a new stake in shares of EOG Resources during the 4th quarter worth $33,000. Norwood Financial Corp acquired a new stake in shares of EOG Resources during the 1st quarter worth $37,000. Finally, Hall Laurie J Trustee acquired a new stake in shares of EOG Resources during the 4th quarter worth $36,000. Institutional investors own 89.91% of the company’s stock.

Insider Activity at EOG Resources

In related news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at approximately $19,457,792.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the transaction, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 7,802 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the sale, the chief operating officer now owns 39,054 shares in the company, valued at approximately $5,079,753.78. The disclosure for this sale can be found here. In the last three months, insiders sold 16,512 shares of company stock worth $2,144,972. 0.30% of the stock is owned by company insiders.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.92%. EOG Resources’s dividend payout ratio (DPR) is presently 28.75%.

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.