FY2024 EPS Estimates for EOG Resources Reduced by Analyst

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of EOG Resources in a report issued on Thursday, November 21st. Zacks Research analyst R. Department now forecasts that the energy exploration company will post earnings per share of $11.27 for the year, down from their previous estimate 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.

Several other brokerages have also recently weighed in on EOG. Evercore ISI dropped their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Morgan Stanley cut their price target on shares of EOG Resources from $134.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. KeyCorp cut their price target on shares of EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Barclays cut 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 report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $144.20.

EOG Resources Price Performance

Shares of NYSE:EOG opened at $132.54 on Monday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $128.34 and its two-hundred day simple moving average is $126.18. EOG Resources has a 1-year low of $108.94 and a 1-year high of $139.67. The stock 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 declared that its Board of Directors has approved a share repurchase plan 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 purchase up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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 given a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a boost 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 is currently 31.40%.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Insight Inv LLC increased its position in shares of EOG Resources by 0.8% in the third 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 last quarter. Cape ANN Savings Bank increased its position in shares of EOG Resources by 0.9% in the third quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company’s stock worth $1,067,000 after purchasing an additional 79 shares during the last quarter. CVA Family Office LLC increased its position in shares of EOG Resources by 11.0% in the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company’s stock worth $103,000 after purchasing an additional 81 shares during the last quarter. Bailard Inc. increased its position in shares of EOG Resources by 0.4% in the second quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company’s stock worth $2,505,000 after purchasing an additional 81 shares during the last quarter. Finally, Everpar Advisors LLC increased its position in shares of EOG Resources by 3.6% in the third quarter. Everpar Advisors LLC now owns 2,380 shares of the energy exploration company’s stock worth $293,000 after purchasing an additional 83 shares during the last quarter. 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.