Capital One Financial Comments on EOG Resources, Inc.’s Q1 2024 Earnings (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) – Equities research analysts at Capital One Financial decreased their Q1 2024 earnings per share (EPS) estimates for EOG Resources in a research report issued to clients and investors on Thursday, April 11th. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings per share of $2.54 for the quarter, down from their previous forecast of $2.57. The consensus estimate for EOG Resources’ current full-year earnings is $11.95 per share.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley lifted their price target on EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America cut EOG Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $147.00 to $140.00 in a report on Friday, January 5th. Raymond James dropped their price target on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Piper Sandler cut their target price on shares of EOG Resources from $153.00 to $141.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Finally, Stifel Nicolaus cut their target price on shares of EOG Resources from $163.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of “Hold” and an average target price of $140.90.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $132.94 on Monday. 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 $122.23 and its two-hundred day moving average price is $121.84. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. The stock has a market capitalization of $76.47 billion, a P/E ratio of 10.22 and a beta of 1.40.

EOG Resources (NYSE:EOG) last posted its quarterly earnings results on Friday, February 23rd. The energy exploration company reported $3.07 EPS 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 firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the business posted $3.30 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis.

EOG Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a dividend of $0.91 per share. The ex-dividend date is Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a yield of 2.74%. EOG Resources’s dividend payout ratio (DPR) is presently 27.98%.

Hedge Funds Weigh In On EOG Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock valued at $3,074,660,000 after purchasing an additional 9,455,621 shares during the last quarter. Tejara Capital Ltd purchased a new position in shares of EOG Resources during the fourth quarter worth approximately $106,000. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 196.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company’s stock worth $1,175,599,000 after buying an additional 6,529,464 shares during the period. Morgan Stanley increased its stake in shares of EOG Resources by 87.8% in the fourth quarter. Morgan Stanley now owns 7,787,281 shares of the energy exploration company’s stock worth $1,008,609,000 after buying an additional 3,641,504 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of EOG Resources by 126.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,111,339 shares of the energy exploration company’s stock worth $662,021,000 after buying an additional 2,851,839 shares during the period. Institutional investors own 89.91% of the company’s stock.

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.