EOG Resources FY2024 EPS Lifted by Capital One Financial

EOG Resources, Inc. (NYSE:EOG) – Analysts at Capital One Financial lifted their FY2024 earnings estimates for shares of EOG Resources in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings per share of $11.40 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 research firms have also commented on EOG. Scotiabank reduced their price target on EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. StockNews.com cut shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a report on Tuesday, November 12th. Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $147.00 to $150.00 in a research report on Tuesday, December 17th. Finally, Barclays dropped their target price on 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. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.71.

EOG Resources Price Performance

EOG Resources stock opened at $128.31 on Friday. The firm has a fifty day moving average of $127.76 and a 200-day moving average of $126.64. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $72.17 billion, a P/E ratio of 10.33, a PEG ratio of 3.37 and a beta of 1.29.

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

EOG Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, January 17th. EOG Resources’s dividend payout ratio (DPR) is currently 29.31%.

Insider Buying and Selling

In other EOG Resources news, Director Janet F. Clark sold 568 shares of EOG Resources stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total value of $76,867.44. Following the transaction, the director now owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently made changes to their positions in EOG. Watts Gwilliam & Co. LLC raised its position in shares of EOG Resources by 227.5% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 5,689 shares of the energy exploration company’s stock valued at $726,000 after purchasing an additional 3,952 shares during the period. Douglas Lane & Associates LLC grew its stake in EOG Resources by 2.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 511,493 shares of the energy exploration company’s stock valued at $62,699,000 after buying an additional 10,404 shares during the last quarter. Fulton Bank N.A. raised its holdings in EOG Resources by 25.6% in the 4th quarter. Fulton Bank N.A. now owns 5,266 shares of the energy exploration company’s stock valued at $646,000 after acquiring an additional 1,073 shares during the period. Norway Savings Bank lifted its position in EOG Resources by 5.1% during the fourth quarter. Norway Savings Bank now owns 8,373 shares of the energy exploration company’s stock worth $1,026,000 after acquiring an additional 410 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its holdings in shares of EOG Resources by 1.8% during the fourth quarter. Fortem Financial Group LLC now owns 9,234 shares of the energy exploration company’s stock worth $1,132,000 after acquiring an additional 164 shares during the period. Institutional investors own 89.91% of the company’s stock.

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.