Zacks: Brokerages Anticipate EOG Resources Inc (NYSE:EOG) Will Announce Earnings of $1.32 Per Share

Wall Street analysts forecast that EOG Resources Inc (NYSE:EOG) will report earnings per share of $1.32 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for EOG Resources’ earnings, with the highest EPS estimate coming in at $1.75 and the lowest estimate coming in at $1.16. EOG Resources reported earnings per share of $1.75 in the same quarter last year, which would suggest a negative year-over-year growth rate of 24.6%. The business is scheduled to report its next earnings report on Thursday, November 7th.

On average, analysts expect that EOG Resources will report full-year earnings of $5.24 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $6.13. For the next fiscal year, analysts expect that the company will report earnings of $6.30 per share, with EPS estimates ranging from $4.34 to $14.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for EOG Resources.

EOG Resources (NYSE:EOG) last posted its earnings results on Thursday, August 1st. The energy exploration company reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.02). EOG Resources had a return on equity of 16.25% and a net margin of 19.69%. The firm had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year.

Several analysts recently issued reports on the stock. Citigroup cut their target price on shares of EOG Resources from $120.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday. MKM Partners upgraded shares of EOG Resources from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Tuesday, May 28th. SunTrust Banks lowered their price objective on shares of EOG Resources to $120.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. ValuEngine lowered shares of EOG Resources from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Zacks Investment Research raised shares of EOG Resources from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.36.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in EOG Resources by 1.0% in the second quarter. Vanguard Group Inc. now owns 45,641,750 shares of the energy exploration company’s stock valued at $4,251,986,000 after buying an additional 473,441 shares during the last quarter. BlackRock Inc. lifted its stake in EOG Resources by 3.5% in the second quarter. BlackRock Inc. now owns 35,712,596 shares of the energy exploration company’s stock valued at $3,326,986,000 after buying an additional 1,201,811 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EOG Resources by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 14,661,614 shares of the energy exploration company’s stock valued at $1,365,875,000 after buying an additional 98,651 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in EOG Resources by 100.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 12,253,340 shares of the energy exploration company’s stock valued at $1,141,521,000 after buying an additional 6,128,570 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in EOG Resources by 32,106.0% in the second quarter. Nuveen Asset Management LLC now owns 8,219,605 shares of the energy exploration company’s stock valued at $765,738,000 after buying an additional 8,194,083 shares during the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

NYSE:EOG traded down $0.08 on Thursday, reaching $74.94. 4,006,924 shares of the stock traded hands, compared to its average volume of 3,860,410. The stock’s fifty day moving average is $85.95. EOG Resources has a 12 month low of $73.95 and a 12 month high of $133.53. The firm has a market capitalization of $43.18 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.20.

EOG Resources Company Profile

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 People's Republic of China, and Canada.

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

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