EOG Resources, Inc. (NYSE:EOG) Expected to Post Earnings of $3.23 Per Share

Brokerages expect EOG Resources, Inc. (NYSE:EOGGet Rating) to announce $3.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for EOG Resources’ earnings. The lowest EPS estimate is $2.51 and the highest is $3.86. EOG Resources reported earnings per share of $1.62 in the same quarter last year, which suggests a positive year over year growth rate of 99.4%. The company is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that EOG Resources will report full year earnings of $13.98 per share for the current fiscal year, with EPS estimates ranging from $9.15 to $17.98. For the next year, analysts forecast that the company will report earnings of $13.03 per share, with EPS estimates ranging from $8.07 to $18.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover EOG Resources.

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

A number of research analysts have recently weighed in on EOG shares. TD Securities cut shares of EOG Resources from a “buy” rating to a “hold” rating and raised their price objective for the stock from $130.00 to $140.00 in a research note on Thursday, March 24th. Piper Sandler raised their price objective on shares of EOG Resources from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Mizuho raised their price objective on shares of EOG Resources from $124.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, March 31st. Bank of America cut shares of EOG Resources from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $146.00 in a research note on Tuesday, March 8th. Finally, KeyCorp lifted their target price on shares of EOG Resources from $132.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $124.36.

Shares of EOG traded down $0.95 during mid-day trading on Thursday, reaching $122.37. 110,787 shares of the company’s stock were exchanged, compared to its average volume of 4,792,372. The company has a quick ratio of 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $117.46 and a two-hundred day simple moving average of $102.45. EOG Resources has a 52-week low of $62.81 and a 52-week high of $127.94. The company has a market cap of $71.63 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.31 and a beta of 1.79.

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

In other EOG Resources news, EVP Jeffrey R. Leitzell sold 4,662 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $121.48, for a total value of $566,339.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Ann D. Janssen sold 3,688 shares of the business’s stock in a transaction on Monday, March 21st. The stock was sold at an average price of $121.96, for a total transaction 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 in the last 90 days. Company insiders own 0.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of EOG. Wolff Wiese Magana LLC lifted its holdings in EOG Resources by 44.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,203 shares of the energy exploration company’s stock worth $97,000 after buying an additional 368 shares in the last quarter. Cerity Partners LLC lifted its holdings in EOG Resources by 17.4% in the 3rd quarter. Cerity Partners LLC now owns 2,869 shares of the energy exploration company’s stock worth $230,000 after buying an additional 426 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in EOG Resources by 6.3% in the 3rd quarter. Fisher Asset Management LLC now owns 273,072 shares of the energy exploration company’s stock worth $21,919,000 after buying an additional 16,149 shares in the last quarter. Westpac Banking Corp lifted its holdings in EOG Resources by 3.6% in the 3rd quarter. Westpac Banking Corp now owns 71,097 shares of the energy exploration company’s stock worth $5,707,000 after buying an additional 2,455 shares in the last quarter. Finally, Hills Bank & Trust Co increased its position in shares of EOG Resources by 7.3% in the 3rd quarter. Hills Bank & Trust Co now owns 13,669 shares of the energy exploration company’s stock worth $1,097,000 after purchasing an additional 930 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About EOG Resources (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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