Q3 2024 EPS Estimates for EOG Resources, Inc. Reduced by Zacks Research (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG - Free Report) - Zacks Research reduced their Q3 2024 EPS estimates for EOG Resources in a research report issued to clients and investors on Monday, October 7th. Zacks Research analyst R. Department now anticipates that the energy exploration company will earn $3.02 per share for the quarter, down from their previous estimate of $3.19. The consensus estimate for EOG Resources' current full-year earnings is $11.91 per share. Zacks Research also issued estimates for EOG Resources' Q1 2025 earnings at $2.78 EPS and Q2 2025 earnings at $2.84 EPS.

EOG has been the subject of a number of other research reports. Wells Fargo & Company cut their target price on shares of EOG Resources from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 1st. KeyCorp started coverage on EOG Resources in a report on Thursday, June 27th. They issued an "overweight" rating and a $157.00 price target for the company. Piper Sandler reduced their price objective on EOG Resources from $154.00 to $147.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Sanford C. Bernstein dropped their price objective on EOG Resources from $139.00 to $125.00 and set a "market perform" rating for the company in a research report on Wednesday, July 17th. Finally, Bank of America restated a "buy" rating and issued a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has an average rating of "Hold" and an average price target of $142.15.

EOG Resources Price Performance

Shares of NYSE:EOG traded up $0.60 during midday trading on Wednesday, hitting $130.97. 2,232,279 shares of the stock were exchanged, compared to its average volume of 3,214,323. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $125.43 and a 200-day moving average price of $127.03. The stock has a market cap of $75.27 billion, a P/E ratio of 10.30, a PEG ratio of 3.27 and a beta of 1.28.

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

Institutional Trading of EOG Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in EOG. Cape ANN Savings Bank boosted its position in EOG Resources by 0.9% during the 3rd quarter. Cape ANN Savings Bank now owns 8,679 shares of the energy exploration company's stock worth $1,067,000 after acquiring an additional 79 shares during the period. Wright Investors Service Inc. boosted its holdings in shares of EOG Resources by 0.8% during the first quarter. Wright Investors Service Inc. now owns 10,163 shares of the energy exploration company's stock worth $1,299,000 after purchasing an additional 80 shares during the period. CVA Family Office LLC grew its position in EOG Resources by 11.0% during the second quarter. CVA Family Office LLC now owns 820 shares of the energy exploration company's stock valued at $103,000 after purchasing an additional 81 shares in the last quarter. Bailard Inc. increased its stake in EOG Resources by 0.4% in the 2nd quarter. Bailard Inc. now owns 19,899 shares of the energy exploration company's stock valued at $2,505,000 after buying an additional 81 shares during the period. Finally, Field & Main Bank lifted its position in EOG Resources by 1.4% in the 1st quarter. Field & Main Bank now owns 6,163 shares of the energy exploration company's stock worth $788,000 after buying an additional 83 shares in the last quarter. Institutional investors own 89.91% of the company's stock.

Insiders Place Their Bets

In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction dated 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 sale, the executive vice president now directly owns 74,250 shares of the company's stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares of the company's stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,537 shares of company stock worth $2,751,612 in the last 90 days. 0.30% of the stock is owned by company insiders.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, October 17th. EOG Resources's dividend payout ratio (DPR) is presently 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.