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

EOG Resources, Inc. (NYSE:EOG - Free Report) - Investment analysts at Capital One Financial lowered their Q3 2024 EPS estimates for shares of EOG Resources in a research note issued on Wednesday, October 9th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings of $2.75 per share for the quarter, down from their prior forecast of $2.83. The consensus estimate for EOG Resources' current full-year earnings is $11.83 per share. Capital One Financial also issued estimates for EOG Resources' Q4 2024 earnings at $2.64 EPS, FY2024 earnings at $11.37 EPS, Q2 2025 earnings at $2.57 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $2.72 EPS and FY2026 earnings at $11.81 EPS.

Several other brokerages also recently weighed in on EOG. StockNews.com downgraded shares of EOG Resources from a "buy" rating to a "hold" rating in a report on Monday, September 16th. Evercore ISI dropped their price objective on shares of EOG Resources from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Bank of America reissued a "buy" rating and set a $151.00 price objective on shares of EOG Resources in a report on Friday, June 14th. Wolfe Research assumed coverage on shares of EOG Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Finally, Susquehanna dropped their price objective on shares of EOG Resources from $159.00 to $158.00 and set a "positive" rating for the company in a report on Wednesday, September 4th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $141.65.

EOG Resources Price Performance

EOG Resources stock traded up $0.26 during mid-day trading on Friday, hitting $132.45. The stock had a trading volume of 1,460,373 shares, compared to its average volume of 3,197,432. The firm has a market capitalization of $75.31 billion, a P/E ratio of 10.21, a P/E/G ratio of 3.38 and a beta of 1.28. 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 firm's 50 day moving average is $125.70 and its 200 day moving average is $127.10. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.18. The company had revenue of $6.03 billion during 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%. EOG Resources's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 EPS.

EOG Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources's payout ratio is currently 28.11%.

Insider Activity at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the sale, the director now directly owns 60,892 shares in the company, valued at approximately $7,648,035.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total value of $1,429,291.50. Following the completion of the sale, the executive vice president now owns 74,250 shares of the company's stock, valued at $9,615,375. This represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently made changes to their positions in the stock. Brevan Howard Capital Management LP increased its position in EOG Resources by 564.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 13,133 shares of the energy exploration company's stock valued at $1,588,000 after buying an additional 11,156 shares in the last quarter. Blackstone Inc. lifted its stake in shares of EOG Resources by 44.6% during the fourth quarter. Blackstone Inc. now owns 6,813 shares of the energy exploration company's stock worth $824,000 after buying an additional 2,100 shares during the period. Black Maple Capital Management LP grew its holdings in shares of EOG Resources by 272.7% during the fourth quarter. Black Maple Capital Management LP now owns 49,200 shares of the energy exploration company's stock valued at $5,951,000 after buying an additional 36,000 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of EOG Resources by 29.9% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 241,958 shares of the energy exploration company's stock valued at $29,265,000 after acquiring an additional 55,638 shares during the period. Finally, Groupama Asset Managment purchased a new position in EOG Resources in the 4th quarter worth $11,422,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

About EOG Resources

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.