Wall Street analysts forecast that EOG Resources Inc (NYSE:EOG) will post sales of $3.91 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for EOG Resources’ earnings. The highest sales estimate is $3.99 billion and the lowest is $3.87 billion. EOG Resources reported sales of $2.61 billion in the same quarter last year, which indicates a positive year over year growth rate of 49.8%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, August 2nd.
According to Zacks, analysts expect that EOG Resources will report full year sales of $16.16 billion for the current financial year, with estimates ranging from $15.76 billion to $16.65 billion. For the next year, analysts forecast that the business will report sales of $18.22 billion per share, with estimates ranging from $17.42 billion to $19.48 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a net margin of 26.00% and a return on equity of 8.19%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was up 62.2% on a year-over-year basis.
NYSE EOG traded up $0.36 on Friday, hitting $125.93. The company’s stock had a trading volume of 3,507,700 shares, compared to its average volume of 3,427,853. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.26. EOG Resources has a 1-year low of $81.99 and a 1-year high of $131.60. The stock has a market cap of $74.64 billion, a P/E ratio of 112.44, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 17th will be given a dividend of $0.22 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 0.70%. EOG Resources’s dividend payout ratio is 66.07%.
In other news, Director Frank G. Wisner sold 890 shares of the stock in a transaction on Monday, May 7th. The shares were sold at an average price of $115.81, for a total transaction of $103,070.90. Following the completion of the sale, the director now directly owns 118,700 shares in the company, valued at $13,746,647. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Gary L. Thomas sold 55,886 shares of the stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $118.27, for a total transaction of $6,609,637.22. Following the transaction, the president now directly owns 1,131,797 shares in the company, valued at $133,857,631.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,203 shares of company stock valued at $15,261,714. 0.51% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Inverness Counsel LLC NY boosted its stake in EOG Resources by 5.0% during the second quarter. Inverness Counsel LLC NY now owns 243,480 shares of the energy exploration company’s stock worth $30,296,000 after acquiring an additional 11,521 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in EOG Resources by 16.4% during the second quarter. CIBC Private Wealth Group LLC now owns 1,150,367 shares of the energy exploration company’s stock worth $143,141,000 after acquiring an additional 162,077 shares in the last quarter. Advanced Asset Management Advisors Inc bought a new position in EOG Resources during the second quarter worth $784,000. Bank of The Ozarks bought a new position in EOG Resources during the second quarter worth $207,000. Finally, Chevy Chase Trust Holdings Inc. bought a new position in EOG Resources during the second quarter worth $104,146,000. 85.15% of the stock is currently owned by institutional investors and hedge funds.
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 United Kingdom, the People's Republic of China, and Canada.
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