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

EOG Resources, Inc. (NYSE:EOG) – Analysts at Zacks Research increased their Q2 2024 EPS estimates for EOG Resources in a note issued to investors on Monday, April 29th. Zacks Research analyst U. Dutta now anticipates that the energy exploration company will post earnings per share of $2.96 for the quarter, up from their prior estimate of $2.89. The consensus estimate for EOG Resources’ current full-year earnings is $12.30 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.

Other equities research analysts have also recently issued reports about the company. TD Cowen raised their target price on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday. Susquehanna boosted their price target on shares of EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. KeyCorp boosted their target price on EOG Resources from $147.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. TD Securities cut their target price on EOG Resources from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price target on shares of EOG Resources in a research report on Tuesday, April 9th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $142.27.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $132.13 on Tuesday. The stock has a market capitalization of $76.00 billion, a P/E ratio of 10.16 and a beta of 1.40. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. 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 firm’s 50-day moving average price is $126.53 and its two-hundred day moving average price is $122.48.

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

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Monday, April 15th. EOG Resources’s payout ratio is 27.98%.

Institutional Investors Weigh In On EOG Resources

A number of institutional investors have recently bought and sold shares of EOG. Private Advisor Group LLC increased its holdings in EOG Resources by 1.0% in the first quarter. Private Advisor Group LLC now owns 14,987 shares of the energy exploration company’s stock worth $1,916,000 after buying an additional 147 shares during the last quarter. Norden Group LLC increased its stake in EOG Resources by 51.4% during the first quarter. Norden Group LLC now owns 3,913 shares of the energy exploration company’s stock valued at $500,000 after acquiring an additional 1,328 shares during the period. Dillon & Associates Inc. lifted its holdings in shares of EOG Resources by 12.4% during the 1st quarter. Dillon & Associates Inc. now owns 2,728 shares of the energy exploration company’s stock worth $349,000 after acquiring an additional 302 shares during the period. Culbertson A N & Co. Inc. boosted its holdings in EOG Resources by 10.8% during the first quarter. Culbertson A N & Co. Inc. now owns 26,290 shares of the energy exploration company’s stock valued at $3,361,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in EOG Resources by 7.3% in the first quarter. Van ECK Associates Corp now owns 35,569 shares of the energy exploration company’s stock valued at $4,547,000 after acquiring an additional 2,423 shares during the period. 89.91% of the stock is currently owned by institutional investors and hedge funds.

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.