EOG Resources, Inc. (NYSE:EOG) to Post Q3 2024 Earnings of $2.75 Per Share, Capital One Financial Forecasts

EOG Resources, Inc. (NYSE:EOG) – Equities researchers at Capital One Financial decreased their Q3 2024 earnings estimates for EOG Resources in a research report issued to clients and investors on Wednesday, October 9th. Capital One Financial analyst P. Johnston now expects that the energy exploration company will post earnings per share of $2.75 for the quarter, down from their previous estimate of $2.83. The consensus estimate for EOG Resources’ current full-year earnings is $11.91 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.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.18. The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a return on equity of 25.42% and a net margin of 30.33%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $2.49 earnings per share.

Other analysts have also issued research reports about the company. Piper Sandler cut their price objective on EOG Resources from $154.00 to $147.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. StockNews.com lowered shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. UBS Group lowered their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Bank of America reissued a “buy” rating and set a $151.00 target price on shares of EOG Resources in a research note on Friday, June 14th. Finally, KeyCorp started coverage on shares of EOG Resources in a research report on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price target on the stock. Fourteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $141.65.

EOG Resources Stock Performance

Shares of EOG opened at $132.19 on Friday. EOG Resources has a 52-week low of $108.94 and a 52-week high of $139.67. The firm has a market capitalization of $75.97 billion, a PE ratio of 10.44, a P/E/G ratio of 3.27 and a beta of 1.28. The firm has a 50-day moving average price of $125.51 and a 200 day moving average price of $127.06. The company has a quick ratio of 1.89, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

EOG Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.75%. EOG Resources’s dividend payout ratio is currently 28.75%.

Insider Buying and Selling at EOG Resources

In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total value of $816,400.00. Following the completion of the transaction, the director now directly owns 60,892 shares in the company, valued at $7,648,035.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,537 shares of company stock worth $2,751,612. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On EOG Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in EOG Resources during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of EOG Resources during the second quarter worth $28,000. Gladius Capital Management LP acquired a new stake in shares of EOG Resources during the second quarter worth $30,000. Triad Wealth Partners LLC bought a new stake in EOG Resources in the 2nd quarter valued at $35,000. Finally, Norwood Financial Corp acquired a new position in EOG Resources in the 1st quarter worth $37,000. 89.91% of the stock is owned by institutional investors.

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.