EOG Resources Inc. (EOG) Forecasted to Post FY2016 Earnings of ($1.69) Per Share
EOG Resources Inc. (NYSE:EOG) – Equities researchers at Credit Agricole SA increased their FY2016 earnings estimates for EOG Resources in a note issued to investors on Wednesday. Credit Agricole SA analyst A. Sen now anticipates that the firm will post earnings per share of ($1.69) for the year, up from their prior estimate of ($1.74). Credit Agricole SA has a “Underperform” rating and a $98.00 price objective on the stock. Credit Agricole SA also issued estimates for EOG Resources’ FY2017 earnings at $0.80 EPS and FY2018 earnings at $1.84 EPS.
EOG Resources (NYSE:EOG) last released its earnings results on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.10. EOG Resources had a negative return on equity of 6.32% and a negative net margin of 72.18%. The firm earned $1.78 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 28.1% on a year-over-year basis.
EOG has been the topic of a number of other research reports. Barclays PLC reaffirmed an “overweight” rating on shares of EOG Resources in a report on Friday, September 30th. FBR & Co initiated coverage on shares of EOG Resources in a report on Tuesday, September 13th. They issued an “outperform” rating and a $108.00 price target on the stock. Wunderlich lifted their price target on shares of EOG Resources from $104.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 7th. Simmons reaffirmed an “overweight” rating and issued a $109.00 price target (up previously from $103.00) on shares of EOG Resources in a report on Friday, September 9th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $98.00 price target (up previously from $95.00) on shares of EOG Resources in a report on Wednesday, September 7th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $92.22.
Shares of EOG Resources (NYSE:EOG) opened at 94.48 on Friday. EOG Resources has a 1-year low of $57.15 and a 1-year high of $98.32. The firm’s 50-day moving average price is $92.86 and its 200 day moving average price is $84.61. The company’s market capitalization is $52.02 billion.
A number of large investors have recently made changes to their positions in EOG. Spirit of America Management Corp NY boosted its stake in shares of EOG Resources by 85.1% in the third quarter. Spirit of America Management Corp NY now owns 8,700 shares of the energy exploration company’s stock worth $841,000 after buying an additional 4,000 shares during the period. Callahan Advisors LLC acquired a new stake in shares of EOG Resources during the third quarter worth $224,000. National Pension Service boosted its stake in shares of EOG Resources by 8.8% in the third quarter. National Pension Service now owns 368,757 shares of the energy exploration company’s stock worth $35,662,000 after buying an additional 29,918 shares during the period. Stock Yards Bank & Trust Co. boosted its stake in shares of EOG Resources by 0.9% in the third quarter. Stock Yards Bank & Trust Co. now owns 113,193 shares of the energy exploration company’s stock worth $10,947,000 after buying an additional 1,015 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of EOG Resources by 17.2% in the third quarter. Private Trust Co. NA now owns 10,981 shares of the energy exploration company’s stock worth $1,061,000 after buying an additional 1,608 shares during the period. Institutional investors and hedge funds own 89.44% of the company’s stock.
In other EOG Resources news, VP Ann D. Janssen sold 1,064 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $96.73, for a total value of $102,920.72. Following the sale, the vice president now owns 56,473 shares in the company, valued at $5,462,633.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David W. Trice sold 4,600 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $97.08, for a total transaction of $446,568.00. Following the completion of the sale, the executive vice president now owns 62,050 shares in the company, valued at approximately $6,023,814. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a $0.1675 dividend. This represents a $0.67 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, October 13th. EOG Resources’s payout ratio is currently -7.14%.
EOG Resources Company Profile
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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