EOG Resources FY2024 EPS Estimate Lifted by Zacks Research

EOG Resources, Inc. (NYSE:EOG) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of EOG Resources in a research note issued to investors on Thursday, February 13th. Zacks Research analyst R. Department now forecasts that the energy exploration company will post earnings per share of $11.29 for the year, up from their previous forecast of $11.23. The consensus estimate for EOG Resources’ current full-year earnings is $11.46 per share. Zacks Research also issued estimates for EOG Resources’ Q4 2024 earnings at $2.42 EPS, Q1 2025 earnings at $2.81 EPS, Q2 2025 earnings at $2.76 EPS, Q3 2025 earnings at $2.88 EPS and FY2025 earnings at $11.42 EPS.

Several other equities research analysts have also weighed in on EOG. Mizuho reduced their price objective on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $150.00 to $155.00 in a research report on Wednesday, February 12th. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. Benchmark reaffirmed a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Finally, Truist Financial raised their target price on EOG Resources from $135.00 to $137.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.14.

EOG Resources Stock Performance

EOG opened at $129.40 on Monday. The firm has a market cap of $72.78 billion, a PE ratio of 10.42, a P/E/G ratio of 3.36 and a beta of 1.27. 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 business has a fifty day simple moving average of $127.79 and a 200-day simple moving average of $127.43. EOG Resources has a fifty-two week low of $109.06 and a fifty-two week high of $139.67.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors have recently made changes to their positions in EOG. Creative Planning increased its stake in shares of EOG Resources by 0.9% in the third quarter. Creative Planning now owns 209,875 shares of the energy exploration company’s stock worth $25,800,000 after purchasing an additional 1,773 shares during the period. Global Retirement Partners LLC grew its position in EOG Resources by 21.4% during the third quarter. Global Retirement Partners LLC now owns 2,907 shares of the energy exploration company’s stock worth $357,000 after buying an additional 512 shares in the last quarter. V Square Quantitative Management LLC grew its position in EOG Resources by 80.7% during the third quarter. V Square Quantitative Management LLC now owns 3,472 shares of the energy exploration company’s stock worth $427,000 after buying an additional 1,551 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in EOG Resources by 59.2% during the third quarter. Stratos Wealth Advisors LLC now owns 16,111 shares of the energy exploration company’s stock worth $1,981,000 after buying an additional 5,994 shares in the last quarter. Finally, Blue Trust Inc. grew its position in EOG Resources by 32.6% during the third quarter. Blue Trust Inc. now owns 10,748 shares of the energy exploration company’s stock worth $1,353,000 after buying an additional 2,644 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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

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.