EOG Resources, Inc. (NYSE:EOG) Forecasted to Earn Q2 2024 Earnings of $2.96 Per Share

EOG Resources, Inc. (NYSE:EOG) – Research analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for shares of EOG Resources in a report issued on Monday, April 29th. Zacks Research analyst U. Dutta now forecasts that the energy exploration company will post earnings per share of $2.96 for the quarter, up from their previous forecast 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.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The company had revenue of $6.36 billion for 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 last year, the business posted $3.30 EPS.

A number of other research firms also recently weighed in on EOG. Morgan Stanley boosted their target price on EOG Resources from $132.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Stifel Nicolaus cut their price objective on EOG Resources from $153.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Raymond James reduced 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a research note on Tuesday, April 9th. Finally, Susquehanna upped their price objective on shares of EOG Resources from $147.00 to $155.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and an average price target of $142.19.

EOG Resources Trading Up 0.4 %

EOG Resources stock opened at $136.25 on Tuesday. The stock has a market cap of $78.37 billion, a P/E ratio of 10.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The firm’s fifty day moving average price is $126.15 and its 200-day moving average price is $122.49. EOG Resources has a fifty-two week low of $106.32 and a fifty-two week high of $139.67.

Hedge Funds Weigh In On EOG Resources

Several hedge funds and other institutional investors have recently bought and sold shares of EOG. Capital World Investors grew 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 buying an additional 9,455,621 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of EOG Resources by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,937,070 shares of the energy exploration company’s stock worth $1,639,903,000 after purchasing an additional 145,691 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in EOG Resources by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,532,527 shares of the energy exploration company’s stock worth $1,462,966,000 after purchasing an additional 892,951 shares during the period. Morgan Stanley grew its holdings in EOG Resources by 1.5% during the third quarter. Morgan Stanley now owns 7,789,774 shares of the energy exploration company’s stock valued at $987,432,000 after purchasing an additional 116,860 shares during the period. Finally, Northern Trust Corp increased its position in EOG Resources by 3.1% in the third quarter. Northern Trust Corp now owns 6,260,706 shares of the energy exploration company’s stock worth $793,607,000 after buying an additional 185,882 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

EOG Resources Announces Dividend

The firm 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 $0.91 dividend. The ex-dividend date is Monday, April 15th. This represents a $3.64 annualized dividend and a yield of 2.67%. EOG Resources’s payout ratio is 27.98%.

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.