Q1 2024 Earnings Forecast for EOG Resources, Inc. Issued By Zacks Research (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Analysts at Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for EOG Resources in a report released on Monday, April 29th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will earn $2.65 per share for the quarter, up from their prior forecast of $2.64. The consensus estimate for EOG Resources’ current full-year earnings is $12.32 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.97 EPS, Q3 2025 earnings at $3.33 EPS, Q4 2025 earnings at $2.98 EPS and FY2025 earnings at $12.80 EPS.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The business 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 earned $3.30 EPS. The company’s revenue was down 5.4% on a year-over-year basis.

Several other research firms have also weighed in on EOG. TD Cowen upped their target price on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a report on Tuesday. Scotiabank downgraded EOG Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $135.00 to $155.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on EOG Resources from $134.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. Bank of America downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $147.00 to $140.00 in a research note on Friday, January 5th. Finally, Barclays assumed coverage on shares of EOG Resources in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $142.27.

EOG Resources Trading Down 1.6 %

Shares of EOG stock opened at $129.95 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13. The firm has a market capitalization of $74.75 billion, a PE ratio of 9.99 and a beta of 1.40. EOG Resources has a 1-year low of $106.32 and a 1-year high of $139.67. The business’s fifty day moving average price is $126.80 and its 200 day moving average price is $122.53.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, April 15th. EOG Resources’s dividend payout ratio (DPR) is presently 27.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. McIlrath & Eck LLC raised its position in shares of EOG Resources by 77.6% during 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 grew its position in EOG Resources by 530.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 252 shares of the energy exploration company’s stock valued at $30,000 after purchasing an additional 212 shares in the last quarter. Peoples Bank KS purchased a new position in EOG Resources during the third quarter valued at approximately $31,000. Sachetta LLC bought a new stake in EOG Resources in the fourth quarter worth approximately $33,000. Finally, Hall Laurie J Trustee acquired a new position in EOG Resources during the 4th quarter valued at $36,000. 89.91% of the stock is owned by institutional investors and hedge funds.

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.