Stock analysts predict EOG Resources, Inc. (NYSE:EOG) will earn $5.89 billion in revenue for the current fiscal quarter, reports Zacks Investment Research. Five analysts made earnings estimates for EOG Resources. The highest sales estimate is $6.02 billion and the lowest is $5.74 billion. EOG Resources recorded sales of $2.97 billion in the same quarter last year, suggesting a positive growth rate of 98.3% year-over-year. The company is expected to announce its next quarterly results after the market closes on Thursday, February 24.
On average, analysts expect EOG Resources to record annual sales of $18.99 billion for the current year, with estimates ranging from $18.45 billion to $19.78 billion. . For the next fiscal year, analysts expect the company to post sales of $21.68 billion, with estimates ranging from $20.02 billion to $23.49 billion. Zacks Investment Research sales calculations are an average based on a survey of research analysts who track EOG Resources.
A number of brokerages have weighed in on EOG. Truist Financial moved shares of EOG Resources from a “hold” rating to a “buy” rating and raised its price target for the company from $111.00 to $135.00 in a research note from the Monday January 31. KeyCorp raised its price target on EOG Resources shares from $116.00 to $118.00 and gave the company an “overweight” rating in a Wednesday, Feb. 2 research note. Argus raised its price target on EOG Resources shares from $95.00 to $111.00 and gave the company a “buy” rating in a Monday, November 15 research note. Mizuho cut his price target on EOG Resources shares from $127.00 to $124.00 in a Monday, January 3 research note. Finally, Piper Sandler raised her price target on EOG Resources shares from $110.00 to $118.00 and gave the company an “overweight” rating in a Thursday, October 21 research note. Five research analysts gave the stock a hold rating and twenty gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $104.86.
EOG Resources stock opened at $116.75 on Friday. The company’s 50-day simple moving average is $98.57 and its 200-day simple moving average is $86.92. EOG Resources has a fifty-two week low of $59.03 and a fifty-two week high of $116.89. The company has a market capitalization of $68.31 billion, a price-earnings ratio of 22.58, a PEG ratio of 0.49 and a beta of 1.80. The company has a debt ratio of 0.23, a current ratio of 2.11 and a quick ratio of 1.96.
EOG Resources said its board of directors on Thursday (November 4) approved a share buyback program that allows the company to repurchase $5.00 billion in stock. This repurchase authorization authorizes the energy exploration company to repurchase up to 9.4% of its shares through purchases on the open market. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.
In addition, director Michael T. Kerr acquired 50,000 shares in a transaction dated Friday, November 26. The stock was purchased at an average price of $86.00 per share, with a total value of $4,300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Chief Financial Officer Timothy K. Driggers sold 3,925 shares of the company in a trade that took place on Thursday, January 6. The shares were sold at an average price of $95.79, for a total value of $375,975.75. The disclosure of this sale can be found here. 0.40% of the shares are currently held by company insiders.
Several institutional investors have recently increased or reduced their stake in EOG. Allspring Global Investments Holdings LLC acquired a new stake in EOG Resources during Q4, valued at approximately $280,032,000. Boston Partners increased its position in EOG Resources by 118.7% in the third quarter. Boston Partners now owns 4,954,384 shares of the energy exploration company valued at $398,059,000 after purchasing an additional 2,689,109 shares during the period. Amundi acquired a new stake in EOG Resources in the 2nd quarter valued at approximately $200,355,000. 1832 Asset Management LP increased its position in EOG Resources by 3,637.0% during the second quarter. 1832 Asset Management LP now owns 2,449,579 shares of the energy exploration company valued at $200,979,000 after purchasing an additional 2,384,030 shares during the period. Finally, Findlay Park Partners LLP increased its stake in EOG Resources shares by 151.7% during the third quarter. Findlay Park Partners LLP now owns 3,356,713 shares of the energy exploration company worth $269,443,000 after buying an additional 2,023,221 shares last quarter. 85.95% of the shares are held by institutional investors.
About EOG resources
EOG Resources, Inc engages in the exploration, development, production and marketing of crude oil and natural gas. It operates through the United States, Trinidad and Tobago and Other International segments. The company was founded in 1985 and is based in Houston, TX.
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