Q3 2024 EPS Estimates for EOG Resources, Inc. Decreased by Capital One Financial (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG - Free Report) - Capital One Financial decreased their Q3 2024 earnings per share (EPS) estimates for EOG Resources in a research note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the energy exploration company will post earnings per share of $2.83 for the quarter, down from their prior forecast of $3.21. The consensus estimate for EOG Resources' current full-year earnings is $12.20 per share. Capital One Financial also issued estimates for EOG Resources' Q4 2024 earnings at $2.65 EPS, FY2024 earnings at $11.45 EPS, Q1 2025 earnings at $2.46 EPS, Q2 2025 earnings at $2.58 EPS, Q3 2025 earnings at $2.69 EPS, Q4 2025 earnings at $2.73 EPS, FY2025 earnings at $10.45 EPS and FY2026 earnings at $11.83 EPS.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.98 by $0.18. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.42%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share.

Several other brokerages have also recently weighed in on EOG. Royal Bank of Canada reiterated a "sector perform" rating and issued a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. Citigroup upped their price target on EOG Resources from $124.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, May 24th. Truist Financial reduced their price objective on shares of EOG Resources from $136.00 to $130.00 and set a "hold" rating for the company in a research note on Monday, July 22nd. Scotiabank lowered their target price on shares of EOG Resources from $155.00 to $150.00 and set a "sector perform" rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley reduced their price target on shares of EOG Resources from $134.00 to $132.00 and set an "equal weight" rating for the company in a research report on Monday. Fourteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $142.89.

EOG Resources Stock Performance

EOG traded up $0.83 on Friday, hitting $126.03. The company's stock had a trading volume of 9,181,796 shares, compared to its average volume of 3,227,046. The company's 50 day simple moving average is $125.70 and its 200-day simple moving average is $126.42. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. EOG Resources has a 12 month low of $108.94 and a 12 month high of $139.67. The firm has a market cap of $72.43 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28.

Institutional Investors Weigh In On EOG Resources

A number of large investors have recently made changes to their positions in EOG. Capital World Investors boosted its holdings in EOG Resources by 59.2% in 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 acquiring an additional 9,455,621 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of EOG Resources by 26.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,948,119 shares of the energy exploration company's stock valued at $598,475,000 after purchasing an additional 1,029,727 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of EOG Resources during the second quarter valued at about $106,990,000. Capital International Investors raised its stake in EOG Resources by 7.1% in the first quarter. Capital International Investors now owns 11,564,463 shares of the energy exploration company's stock worth $1,478,401,000 after buying an additional 766,056 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in EOG Resources by 9.1% in the second quarter. Legal & General Group Plc now owns 4,840,705 shares of the energy exploration company's stock worth $609,300,000 after buying an additional 403,676 shares during the period. 89.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael P. Donaldson sold 11,037 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at approximately $9,615,375. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now owns 74,250 shares in the company, valued at approximately $9,615,375. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,537 shares of company stock valued at $2,751,612. Insiders own 0.30% of the company's stock.

EOG Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a dividend yield of 2.89%. EOG Resources's dividend payout ratio is currently 28.75%.

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.