Analysts Set Expectations for EOG Resources Inc’s Q1 2018 Earnings (EOG)
EOG Resources Inc (NYSE:EOG) – Research analysts at Jefferies Group cut their Q1 2018 earnings estimates for EOG Resources in a note issued to investors on Wednesday. Jefferies Group analyst M. Hsu now expects that the energy exploration company will post earnings per share of $0.37 for the quarter, down from their previous estimate of $0.66. Jefferies Group has a “Hold” rating and a $95.00 price target on the stock. Jefferies Group also issued estimates for EOG Resources’ Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.85 EPS and FY2018 earnings at $2.41 EPS.
EOG Resources (NYSE:EOG) last released its earnings results on Monday, May 8th. The energy exploration company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. EOG Resources had a negative return on equity of 8.42% and a negative net margin of 17.58%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company posted ($0.83) earnings per share. EOG Resources’s revenue was up 92.8% on a year-over-year basis.
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EOG has been the subject of several other reports. Scotiabank restated a “hold” rating and issued a $109.00 target price on shares of EOG Resources in a research note on Tuesday. Iberia Capital raised their target price on EOG Resources from $109.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, April 3rd. Wells Fargo & Co upgraded EOG Resources from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Wednesday, May 10th. Royal Bank of Canada restated a “hold” rating and issued a $110.00 target price on shares of EOG Resources in a research note on Friday, April 7th. Finally, KLR Group restated a “buy” rating and issued a $128.00 target price on shares of EOG Resources in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.97.
EOG Resources (NYSE:EOG) traded up 2.66% during mid-day trading on Friday, reaching $94.13. The company had a trading volume of 774,319 shares. EOG Resources has a one year low of $78.04 and a one year high of $109.37. The company’s market capitalization is $54.34 billion. The stock has a 50 day moving average price of $94.49 and a 200 day moving average price of $98.08.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Pictet & Cie SA raised its position in EOG Resources by 2.0% in the third quarter. Banque Pictet & Cie SA now owns 366,266 shares of the energy exploration company’s stock worth $35,422,000 after buying an additional 7,225 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in EOG Resources by 2.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,185,625 shares of the energy exploration company’s stock worth $322,067,000 after buying an additional 70,513 shares in the last quarter. Baird Financial Group Inc. raised its position in EOG Resources by 43.4% in the fourth quarter. Baird Financial Group Inc. now owns 139,512 shares of the energy exploration company’s stock worth $14,105,000 after buying an additional 42,205 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in EOG Resources during the first quarter worth $3,612,000. Finally, BlackRock Japan Co. Ltd raised its position in EOG Resources by 0.9% in the third quarter. BlackRock Japan Co. Ltd now owns 788,138 shares of the energy exploration company’s stock worth $76,221,000 after buying an additional 7,042 shares in the last quarter. Institutional investors and hedge funds own 85.49% of the company’s stock.
In related news, Director Frank G. Wisner sold 28,000 shares of EOG Resources stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $93.35, for a total value of $2,613,800.00. Following the completion of the transaction, the director now directly owns 136,282 shares in the company, valued at approximately $12,721,924.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles R. Crisp sold 2,593 shares of EOG Resources stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $100.02, for a total transaction of $259,351.86. Following the completion of the transaction, the director now owns 49,613 shares of the company’s stock, valued at $4,962,292.26. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be paid a $0.1675 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.67 dividend on an annualized basis and a yield of 0.73%. EOG Resources’s dividend payout ratio is -29.65%.
About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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