EOG Resources FY2024 EPS Lifted by Capital One Financial

EOG Resources, Inc. (NYSE:EOG - Free Report) - Research analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for shares of EOG Resources in a research note issued to investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings per share of $11.40 for the year, up from their prior forecast of $11.37. The consensus estimate for EOG Resources' current full-year earnings is $11.47 per share. Capital One Financial also issued estimates for EOG Resources' Q4 2024 earnings at $2.53 EPS.

Several other research analysts also recently issued reports on EOG. JPMorgan Chase & Co. reduced their price target on shares of EOG Resources from $143.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Mizuho reduced their target price on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered their price target on shares of EOG Resources from $149.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, December 17th. Wells Fargo & Company raised EOG Resources from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $147.00 to $150.00 in a report on Tuesday, December 17th. Finally, Barclays lowered their target price on EOG Resources from $144.00 to $137.00 and set an "equal weight" rating for the company in a research note on Thursday, October 3rd. 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 company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $143.71.

EOG Resources Price Performance

Shares of EOG stock traded up $3.08 during trading hours on Friday, hitting $131.54. 4,882,823 shares of the company's stock were exchanged, compared to its average volume of 3,218,920. EOG Resources has a 52 week low of $108.94 and a 52 week high of $139.67. The stock has a market cap of $73.98 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The stock's 50-day moving average is $127.97 and its 200-day moving average is $126.68.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources's previous quarterly dividend of $0.91. EOG Resources's dividend payout ratio (DPR) is presently 29.31%.

EOG Resources announced that its Board of Directors has initiated a share repurchase program on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the sale, the director now owns 43,532 shares of the company's stock, valued at $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total transaction of $483,560.00. Following the completion of the sale, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its position in EOG Resources by 64.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,284,228 shares of the energy exploration company's stock worth $694,717,000 after acquiring an additional 2,076,134 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in EOG Resources by 856.7% during the third quarter. Fisher Asset Management LLC now owns 1,200,851 shares of the energy exploration company's stock worth $147,621,000 after purchasing an additional 1,075,334 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in EOG Resources in the second quarter valued at $106,990,000. Legal & General Group Plc increased its stake in EOG Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock valued at $609,300,000 after buying an additional 403,676 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in EOG Resources by 42.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,113,429 shares of the energy exploration company's stock worth $136,874,000 after buying an additional 333,947 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

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.