Q2 2017 Earnings Estimate for EOG Resources Inc. (EOG) Issued By Jefferies Group
EOG Resources Inc. (NYSE:EOG) – Equities researchers at Jefferies Group boosted their Q2 2017 earnings per share (EPS) estimates for shares of EOG Resources in a note issued to investors on Thursday. Jefferies Group analyst J. Wolff now expects that the firm will earn $0.09 per share for the quarter, up from their prior estimate of $0.06. Jefferies Group currently has a “Hold” rating and a $88.00 target price on the stock. Jefferies Group also issued estimates for EOG Resources’ Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.37 EPS and FY2017 earnings at $0.64 EPS.
EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, November 3rd. The energy exploration company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.09. EOG Resources had a negative net margin of 17.58% and a negative return on equity of 8.42%. The business earned $2.12 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year.
Several other brokerages also recently weighed in on EOG. Bank of America Corp. set a $100.00 target price on EOG Resources and gave the stock a “hold” rating in a research note on Friday, August 5th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $90.00 target price on shares of EOG Resources in a research note on Tuesday, August 9th. Barclays PLC reduced their target price on EOG Resources from $104.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, August 8th. Zacks Investment Research raised EOG Resources from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, July 25th. Finally, Deutsche Bank AG raised EOG Resources from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $96.00 in a research note on Friday, August 5th. Sixteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $95.69.
EOG Resources (NYSE:EOG) traded up 1.74% on Friday, hitting $93.95. 1,580,146 shares of the company were exchanged. The stock’s market capitalization is $54.16 billion. EOG Resources has a 52-week low of $57.15 and a 52-week high of $98.32. The stock’s 50-day moving average price is $93.91 and its 200-day moving average price is $87.35.
The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were given a dividend of $0.1675 per share. This represents a $0.67 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, October 13th. EOG Resources’s dividend payout ratio (DPR) is -29.65%.
In other EOG Resources news, Director Charles R. Crisp sold 14,000 shares of EOG Resources stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $92.69, for a total value of $1,297,660.00. Following the transaction, the director now directly owns 57,586 shares in the company, valued at approximately $5,337,646.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Donaldson sold 8,473 shares of EOG Resources stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $91.00, for a total value of $771,043.00. Following the completion of the transaction, the executive vice president now owns 66,566 shares in the company, valued at $6,057,506. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its position in shares of EOG Resources by 3.4% in the second quarter. Capital Research Global Investors now owns 43,151,080 shares of the energy exploration company’s stock valued at $3,599,663,000 after buying an additional 1,423,493 shares during the period. Vanguard Group Inc. increased its position in shares of EOG Resources by 1.8% in the second quarter. Vanguard Group Inc. now owns 39,329,789 shares of the energy exploration company’s stock valued at $3,280,891,000 after buying an additional 680,874 shares during the period. State Street Corp increased its position in shares of EOG Resources by 1.0% in the second quarter. State Street Corp now owns 27,064,265 shares of the energy exploration company’s stock valued at $2,257,702,000 after buying an additional 268,950 shares during the period. Capital World Investors increased its position in shares of EOG Resources by 8.9% in the third quarter. Capital World Investors now owns 16,812,004 shares of the energy exploration company’s stock valued at $1,625,889,000 after buying an additional 1,370,500 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of EOG Resources by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,915,769 shares of the energy exploration company’s stock valued at $994,014,000 after buying an additional 322,970 shares during the period. Institutional investors own 89.70% of the company’s stock.
About EOG Resources
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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