FY2024 EPS Estimate for EOG Resources Increased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Equities research analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of EOG Resources in a report released on Thursday, February 13th. Zacks Research analyst R. Department now forecasts that the energy exploration company will earn $11.29 per share for the year, up from their previous estimate of $11.23. The consensus estimate for EOG Resources’ current full-year earnings is $11.46 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.42 EPS, Q1 2025 earnings at $2.81 EPS, Q2 2025 earnings at $2.76 EPS, Q3 2025 earnings at $2.88 EPS and FY2025 earnings at $11.42 EPS.

EOG has been the topic of a number of other research reports. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Citigroup increased their target price on EOG Resources from $127.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Mizuho decreased their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler increased their price objective on EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America reissued a “neutral” rating and issued a $144.00 price objective (down from $151.00) on shares of EOG Resources in a research note on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.14.

EOG Resources Trading Up 0.3 %

EOG Resources stock opened at $129.40 on Monday. EOG Resources has a 12 month low of $109.06 and a 12 month high of $139.67. The firm has a market cap of $72.78 billion, a PE ratio of 10.42, a P/E/G ratio of 3.36 and a beta of 1.27. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $127.79 and its two-hundred day simple moving average is $127.43.

Institutional Trading of EOG Resources

A number of institutional investors have recently bought and sold shares of the company. Creative Planning raised its holdings in shares of EOG Resources by 0.9% in the third quarter. Creative Planning now owns 209,875 shares of the energy exploration company’s stock worth $25,800,000 after acquiring an additional 1,773 shares during the last quarter. Global Retirement Partners LLC increased its stake in EOG Resources by 21.4% during the third quarter. Global Retirement Partners LLC now owns 2,907 shares of the energy exploration company’s stock worth $357,000 after acquiring an additional 512 shares during the last quarter. V Square Quantitative Management LLC increased its stake in EOG Resources by 80.7% during the third quarter. V Square Quantitative Management LLC now owns 3,472 shares of the energy exploration company’s stock worth $427,000 after acquiring an additional 1,551 shares during the last quarter. Stratos Wealth Advisors LLC increased its stake in EOG Resources by 59.2% during the third quarter. Stratos Wealth Advisors LLC now owns 16,111 shares of the energy exploration company’s stock worth $1,981,000 after acquiring an additional 5,994 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in EOG Resources by 32.6% during the third quarter. Blue Trust Inc. now owns 10,748 shares of the energy exploration company’s stock worth $1,353,000 after acquiring an additional 2,644 shares during the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

EOG Resources announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the energy exploration company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.