Capital One Financial Weighs in on EOG Resources, Inc.’s Q3 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Capital One Financial cut their Q3 2024 earnings estimates for EOG Resources in a research report issued to clients and investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the energy exploration company will post earnings of $2.83 per share for the quarter, down from their prior estimate of $3.21. The consensus estimate for EOG Resources’ current full-year earnings is $12.20 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.65 EPS, FY2024 earnings at $11.45 EPS, Q1 2025 earnings at $2.46 EPS, Q2 2025 earnings at $2.58 EPS, Q3 2025 earnings at $2.69 EPS, Q4 2025 earnings at $2.73 EPS, FY2025 earnings at $10.45 EPS and FY2026 earnings at $11.83 EPS.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The firm had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 earnings per share.

Other research analysts have also recently issued research reports about the stock. Wolfe Research began coverage on shares of EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Bank of America reiterated a “buy” rating and set a $151.00 price target on shares of EOG Resources in a report on Friday, June 14th. Citigroup boosted their price target on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Finally, Morgan Stanley lowered their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Fourteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $142.89.

EOG Resources Trading Up 0.6 %

Shares of EOG stock opened at $126.01 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. The stock has a market capitalization of $72.42 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. The company has a 50 day moving average price of $125.65 and a 200 day moving average price of $126.49. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a $0.91 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.89%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the transaction, the director now directly owns 60,892 shares of the company’s stock, valued at approximately $7,648,035.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 in the last 90 days. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On EOG Resources

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in EOG Resources by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 54,275,932 shares of the energy exploration company’s stock valued at $6,938,635,000 after buying an additional 146,674 shares during the period. Capital Research Global Investors grew its stake in shares of EOG Resources by 1.3% during the 1st quarter. Capital Research Global Investors now owns 28,889,715 shares of the energy exploration company’s stock worth $3,693,261,000 after purchasing an additional 373,365 shares during the period. Capital World Investors grew its stake in shares of EOG Resources by 5.4% during the 1st quarter. Capital World Investors now owns 26,782,454 shares of the energy exploration company’s stock worth $3,423,869,000 after purchasing an additional 1,361,538 shares during the period. Ameriprise Financial Inc. grew its stake in shares of EOG Resources by 2.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,311,541 shares of the energy exploration company’s stock worth $1,549,098,000 after purchasing an additional 260,727 shares during the period. Finally, Capital International Investors grew its stake in shares of EOG Resources by 7.1% during the 1st 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 during the period. 89.91% of the stock is 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.