Brokerages Anticipate EOG Resources Inc (EOG) Will Announce Earnings of $1.56 Per Share

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Equities analysts expect that EOG Resources Inc (NYSE:EOG) will post earnings per share of $1.56 for the current quarter, according to Zacks. Five analysts have made estimates for EOG Resources’ earnings. The highest EPS estimate is $1.73 and the lowest is $1.38. EOG Resources reported earnings per share of $0.19 during the same quarter last year, which would indicate a positive year over year growth rate of 721.1%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that EOG Resources will report full year earnings of $5.83 per share for the current financial year, with EPS estimates ranging from $5.49 to $6.21. For the next financial year, analysts expect that the firm will post earnings of $7.87 per share, with EPS estimates ranging from $5.84 to $10.53. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow EOG Resources.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.95 billion. EOG Resources had a net margin of 27.81% and a return on equity of 12.38%. The firm’s quarterly revenue was up 62.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share.

Several equities research analysts recently weighed in on the stock. Stephens set a $122.00 price target on shares of EOG Resources and gave the company a “hold” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies set a $138.00 price target on shares of EOG Resources and gave the company a “buy” rating in a research report on Sunday, September 30th. Stifel Nicolaus set a $147.00 price target on shares of EOG Resources and gave the company a “buy” rating in a research report on Friday, August 3rd. Morgan Stanley raised their price target on shares of EOG Resources from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Wednesday, September 26th. Finally, Zacks Investment Research downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $138.50.

In other EOG Resources news, EVP David W. Trice sold 2,489 shares of EOG Resources stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $127.44, for a total value of $317,198.16. Following the completion of the sale, the executive vice president now owns 74,807 shares of the company’s stock, valued at approximately $9,533,404.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William R. Thomas sold 57,065 shares of EOG Resources stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $122.36, for a total transaction of $6,982,473.40. Following the completion of the sale, the chief executive officer now directly owns 755,519 shares of the company’s stock, valued at approximately $92,445,304.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,346 shares of company stock valued at $7,508,977. 0.51% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Neville Rodie & Shaw Inc. bought a new stake in shares of EOG Resources during the 2nd quarter valued at $1,231,000. Summit Global Investments grew its position in shares of EOG Resources by 574.0% during the 2nd quarter. Summit Global Investments now owns 35,384 shares of the energy exploration company’s stock valued at $4,403,000 after acquiring an additional 30,134 shares during the period. Pittenger & Anderson Inc. grew its position in shares of EOG Resources by 11.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 17,520 shares of the energy exploration company’s stock valued at $2,180,000 after acquiring an additional 1,815 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of EOG Resources by 5.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,666 shares of the energy exploration company’s stock valued at $1,576,000 after acquiring an additional 692 shares during the period. Finally, Icon Advisers Inc. Co. bought a new stake in shares of EOG Resources during the 2nd quarter valued at $12,530,000. 86.25% of the stock is owned by institutional investors and hedge funds.

Shares of EOG traded down $0.56 on Friday, hitting $106.56. 4,332,448 shares of the stock traded hands, compared to its average volume of 3,229,429. The company has a market capitalization of $67.33 billion, a P/E ratio of 95.14, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. EOG Resources has a one year low of $95.84 and a one year high of $133.53.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Tuesday, October 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.19. EOG Resources’s payout ratio is 78.57%.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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