$5.60 Billion in Sales Expected for EOG Resources, Inc. (NYSE:EOG) This Quarter

Wall Street brokerages expect EOG Resources, Inc. (NYSE:EOGGet Rating) to post $5.60 billion in sales for the current quarter, according to Zacks. Six analysts have made estimates for EOG Resources’ earnings, with the lowest sales estimate coming in at $5.13 billion and the highest estimate coming in at $6.46 billion. EOG Resources reported sales of $3.69 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 51.8%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that EOG Resources will report full year sales of $23.21 billion for the current year, with estimates ranging from $20.02 billion to $27.49 billion. For the next year, analysts forecast that the company will report sales of $22.67 billion, with estimates ranging from $19.70 billion to $24.93 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for EOG Resources.

EOG Resources (NYSE:EOGGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The energy exploration company reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($0.12). EOG Resources had a net margin of 25.02% and a return on equity of 23.50%. The firm had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The company’s quarterly revenue was up 103.8% compared to the same quarter last year.

EOG has been the subject of a number of recent research reports. Benchmark cut EOG Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. They noted that the move was a valuation call. Bank of America cut EOG Resources from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $130.00 to $146.00 in a research report on Tuesday, March 8th. TD Securities cut EOG Resources from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research report on Thursday, March 24th. Credit Suisse Group lifted their price objective on EOG Resources from $110.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, February 25th. Finally, MKM Partners lifted their price objective on EOG Resources from $114.00 to $127.00 in a research report on Monday, February 28th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $124.36.

Shares of EOG stock traded down $0.95 during mid-day trading on Friday, reaching $122.37. The stock had a trading volume of 110,787 shares, compared to its average volume of 4,792,372. The company has a market cap of $71.63 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79. The business has a 50-day simple moving average of $117.46 and a 200 day simple moving average of $102.45. EOG Resources has a 12-month low of $62.81 and a 12-month high of $127.94. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.23.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, April 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $3.00 annualized dividend and a yield of 2.45%. EOG Resources’s dividend payout ratio is presently 37.59%.

In related news, EVP Michael P. Donaldson sold 11,327 shares of the company’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $117.15, for a total transaction of $1,326,958.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ann D. Janssen sold 3,688 shares of the company’s stock in a transaction on Monday, March 21st. The stock was sold at an average price of $121.96, for a total value of $449,788.48. The disclosure for this sale can be found here. Insiders have sold a total of 19,677 shares of company stock worth $2,343,086 over the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC lifted its holdings in shares of EOG Resources by 44.1% in the third quarter. Wolff Wiese Magana LLC now owns 1,203 shares of the energy exploration company’s stock valued at $97,000 after buying an additional 368 shares during the period. Westpac Banking Corp lifted its holdings in shares of EOG Resources by 3.6% in the third quarter. Westpac Banking Corp now owns 71,097 shares of the energy exploration company’s stock valued at $5,707,000 after buying an additional 2,455 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of EOG Resources by 10.8% in the third quarter. Aptus Capital Advisors LLC now owns 19,657 shares of the energy exploration company’s stock valued at $1,578,000 after buying an additional 1,918 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of EOG Resources by 73.3% in the third quarter. WINTON GROUP Ltd now owns 15,408 shares of the energy exploration company’s stock valued at $1,237,000 after buying an additional 6,517 shares during the period. Finally, Community Bank N.A. lifted its holdings in shares of EOG Resources by 51.2% in the third quarter. Community Bank N.A. now owns 2,270 shares of the energy exploration company’s stock valued at $182,000 after buying an additional 769 shares during the period. Institutional investors own 86.69% of the company’s stock.

EOG Resources Company Profile (Get Rating)

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves.

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Earnings History and Estimates for EOG Resources (NYSE:EOG)

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