FY2024 EPS Estimate for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Analysts at Zacks Research reduced their FY2024 EPS estimates for EOG Resources in a research report issued to clients and investors on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the energy exploration company will post earnings per share of $11.27 for the year, down from their prior forecast of $11.80. The consensus estimate for EOG Resources’ current full-year earnings is $11.48 per share. Zacks Research also issued estimates for EOG Resources’ Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.58 EPS, Q3 2025 earnings at $2.80 EPS, Q4 2025 earnings at $2.90 EPS, Q1 2026 earnings at $2.49 EPS and Q3 2026 earnings at $2.89 EPS.

A number of other analysts have also weighed in on EOG. JPMorgan Chase & Co. dropped their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Morgan Stanley dropped their price target on EOG Resources from $134.00 to $132.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research note on Tuesday, November 12th. Finally, Evercore ISI dropped their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Fifteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $144.20.

EOG Resources Stock Performance

NYSE:EOG opened at $132.54 on Monday. The firm has a market cap of $74.55 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 3.62 and a beta of 1.28. EOG Resources has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The business has a 50 day moving average price of $128.34 and a 200-day moving average price of $126.18.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.975 per share. The ex-dividend date is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 annualized dividend and a dividend yield of 2.94%. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

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

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in EOG Resources in the 3rd quarter worth about $26,000. Riverview Trust Co bought a new stake in EOG Resources in the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the 2nd quarter worth about $28,000. Eastern Bank bought a new stake in EOG Resources in the 3rd quarter worth about $28,000. Finally, Gladius Capital Management LP bought a new stake in EOG Resources in the 2nd quarter worth about $30,000. 89.91% of the stock is currently owned by institutional investors.

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.