Q1 2024 Earnings Estimate for EOG Resources, Inc. (NYSE:EOG) Issued By Capital One Financial

EOG Resources, Inc. (NYSE:EOG) – Analysts at Capital One Financial boosted their Q1 2024 earnings per share (EPS) estimates for shares of EOG Resources in a research note issued to investors on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now forecasts that the energy exploration company will post earnings per share of $2.57 for the quarter, up from their previous forecast of $2.21. The consensus estimate for EOG Resources’ current full-year earnings is $11.85 per share. Capital One Financial also issued estimates for EOG Resources’ Q2 2024 earnings at $3.02 EPS, Q3 2024 earnings at $3.06 EPS, Q4 2024 earnings at $3.10 EPS, FY2024 earnings at $11.74 EPS and FY2025 earnings at $12.39 EPS.

EOG Resources (NYSE:EOG) last issued its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Several other research firms have also recently commented on EOG. UBS Group lowered their target price on EOG Resources from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Citigroup lifted their target price on EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research note on Tuesday. Finally, Morgan Stanley lifted their price objective on EOG Resources from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.10.

EOG Resources Stock Up 1.2 %

NYSE EOG opened at $137.05 on Monday. The stock has a fifty day moving average of $119.89 and a 200-day moving average of $121.58. The stock has a market capitalization of $78.83 billion, a P/E ratio of 10.53 and a beta of 1.40. EOG Resources has a 52 week low of $106.32 and a 52 week high of $137.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44.

Institutional Trading of EOG Resources

A number of institutional investors have recently modified their holdings of EOG. Capital World Investors raised its holdings in EOG Resources by 59.2% during the fourth quarter. Capital World Investors now owns 25,420,916 shares of the energy exploration company’s stock worth $3,074,660,000 after acquiring an additional 9,455,621 shares in the last quarter. Tejara Capital Ltd bought a new stake in EOG Resources during the fourth quarter worth about $106,000. Charles Schwab Investment Management Inc. raised its holdings in EOG Resources by 196.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,859,925 shares of the energy exploration company’s stock worth $1,175,599,000 after acquiring an additional 6,529,464 shares in the last quarter. Morgan Stanley raised its holdings in EOG Resources by 87.8% during the fourth quarter. Morgan Stanley now owns 7,787,281 shares of the energy exploration company’s stock worth $1,008,609,000 after acquiring an additional 3,641,504 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in EOG Resources by 126.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,111,339 shares of the energy exploration company’s stock worth $662,021,000 after acquiring an additional 2,851,839 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a $0.91 dividend. The ex-dividend date is Monday, April 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.66%. EOG Resources’s dividend payout ratio (DPR) is 27.98%.

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.