FY2024 EPS Estimates for EOG Resources Boosted by Analyst

EOG Resources, Inc. (NYSE:EOG) – Capital One Financial boosted their FY2024 earnings estimates for shares of EOG Resources in a research note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings of $11.40 per share for the year, up from their prior forecast of $11.37. The consensus estimate for EOG Resources’ current full-year earnings is $11.47 per share. Capital One Financial also issued estimates for EOG Resources’ Q4 2024 earnings at $2.53 EPS.

Several other equities research analysts have also issued reports on the company. KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wolfe Research raised shares of EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $147.00 to $150.00 in a research note on Tuesday, December 17th. UBS Group cut their price target on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Raymond James raised their price objective on shares of EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.71.

EOG Resources Trading Up 2.4 %

EOG opened at $131.54 on Friday. The stock has a 50-day moving average of $127.97 and a 200 day moving average of $126.68. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market cap of $73.98 billion, a P/E ratio of 10.59, a P/E/G ratio of 3.37 and a beta of 1.29.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.96%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

EOG Resources declared that its board has authorized a share repurchase program on Thursday, November 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s 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 owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet F. Clark sold 568 shares of the 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 sale, the director now owns 43,532 shares in the company, valued at $5,891,185.56. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently modified their holdings of the stock. Insight Inv LLC grew its stake in shares of EOG Resources by 0.8% during the 3rd quarter. Insight Inv LLC now owns 9,385 shares of the energy exploration company’s stock worth $1,154,000 after purchasing an additional 75 shares during the period. Cape ANN Savings Bank grew its position in EOG Resources by 0.9% during the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock valued at $1,067,000 after buying an additional 79 shares during the period. Everpar Advisors LLC increased its holdings in EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock valued at $293,000 after buying an additional 83 shares in the last quarter. Altman Advisors Inc. raised its position in shares of EOG Resources by 0.7% in the second quarter. Altman Advisors Inc. now owns 12,731 shares of the energy exploration company’s stock worth $1,603,000 after acquiring an additional 85 shares during the period. Finally, FSM Wealth Advisors LLC boosted its stake in shares of EOG Resources by 5.5% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,702 shares of the energy exploration company’s stock worth $209,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.