EOG Resources, Inc. to Post Q2 2024 Earnings of $2.96 Per Share, Zacks Research Forecasts (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Investment analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for shares of EOG Resources in a research report issued to clients and investors on Monday, April 29th. Zacks Research analyst U. Dutta now expects that the energy exploration company will earn $2.96 per share for the quarter, up from their prior estimate of $2.89. The consensus estimate for EOG Resources’ current full-year earnings is $12.32 per share. Zacks Research also issued estimates for EOG Resources’ Q3 2024 earnings at $3.18 EPS, FY2024 earnings at $11.76 EPS, Q1 2025 earnings at $3.41 EPS, Q2 2025 earnings at $3.08 EPS, Q1 2026 earnings at $3.22 EPS and FY2026 earnings at $14.14 EPS.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.30 EPS.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a research note on Thursday, March 28th. Citigroup upped their price target on EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 target price on shares of EOG Resources in a research note on Tuesday, April 9th. Raymond James cut their target price on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Susquehanna increased their target price on EOG Resources from $147.00 to $155.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and a consensus price target of $142.27.

EOG Resources Stock Performance

EOG Resources stock opened at $129.95 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $74.75 billion, a P/E ratio of 9.99 and a beta of 1.40. The stock’s 50 day moving average is $126.80 and its 200 day moving average is $122.53. EOG Resources has a twelve month low of $106.32 and a twelve month high of $139.67.

Hedge Funds Weigh In On EOG Resources

Institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC increased its stake in EOG Resources by 77.6% in the 3rd quarter. McIlrath & Eck LLC now owns 238 shares of the energy exploration company’s stock worth $30,000 after buying an additional 104 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in EOG Resources by 530.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock worth $30,000 after buying an additional 212 shares in the last quarter. Peoples Bank KS purchased a new stake in EOG Resources in the 3rd quarter worth $31,000. Sachetta LLC purchased a new stake in EOG Resources in the 4th quarter worth $33,000. Finally, Hall Laurie J Trustee purchased a new stake in EOG Resources in the 4th quarter worth $36,000. 89.91% of the stock is owned by institutional investors.

EOG Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a yield of 2.80%. EOG Resources’s dividend payout ratio is currently 27.98%.

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.