FY2024 EPS Estimates for EOG Resources Decreased by Analyst

EOG Resources, Inc. (NYSE:EOG) – Equities researchers at Zacks Research dropped their FY2024 earnings per share estimates for EOG Resources in a report released on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the energy exploration company will post earnings of $11.27 per share for the year, down from their previous estimate of $11.80. The consensus estimate for EOG Resources’ current full-year earnings is $11.50 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 research analysts have also commented on the company. Evercore ISI lowered their price target on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Barclays dropped their price target on shares of EOG Resources from $144.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. KeyCorp dropped their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Raymond James increased their price target on EOG Resources from $156.00 to $167.00 and gave the company a “strong-buy” rating in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $144.00.

EOG Resources Stock Up 0.6 %

EOG opened at $136.35 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The stock’s 50 day moving average price is $127.95 and its 200 day moving average price is $126.15. The stock has a market cap of $76.69 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.59 and a beta of 1.28.

EOG Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.975 dividend. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. This represents a $3.90 dividend on an annualized basis and a yield of 2.86%. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

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

Insiders Place Their Bets

In related news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 directly owns 43,532 shares in the company, valued at approximately $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of EOG Resources during the 3rd quarter valued at about $26,000. Riverview Trust Co bought a new stake in EOG Resources in the second quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in EOG Resources in the second quarter worth approximately $28,000. Eastern Bank acquired a new position in shares of EOG Resources during the 3rd quarter worth $28,000. Finally, Gladius Capital Management LP bought a new position in shares of EOG Resources during the 2nd quarter valued at $30,000. Institutional investors and hedge funds 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.