EOG Resources (NYSE:EOG) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

EOG Resources (NYSE:EOG) released its quarterly earnings data on Thursday. The energy exploration company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.18, Briefing.com reports. EOG Resources had a return on equity of 25.65% and a net margin of 30.33%. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period in the prior year, the company posted $2.49 EPS. The company’s revenue was up 8.1% compared to the same quarter last year.

EOG Resources Price Performance

EOG traded down $0.19 during trading on Friday, hitting $122.92. 6,668,943 shares of the stock traded hands, compared to its average volume of 2,636,904. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67. The company has a market cap of $70.64 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 2.15 and a beta of 1.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05. The business has a 50 day moving average price of $124.57 and a 200 day moving average price of $123.61.

EOG Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.91 dividend. The ex-dividend date is Thursday, October 17th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.96%. EOG Resources’s payout ratio is 28.75%.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at $19,457,792.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Jeffrey R. Leitzell sold 7,802 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $130.07, for a total value of $1,014,806.14. Following the sale, the chief operating officer now owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total transaction of $611,506.99. Following the completion of the sale, the chief executive officer now directly owns 150,474 shares in the company, valued at approximately $19,457,792.94. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock worth $2,144,972 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EOG. KeyCorp began coverage on EOG Resources in a research note on Thursday, June 27th. They issued an “overweight” rating and a $157.00 price objective on the stock. TD Cowen upped their price objective on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Scotiabank decreased their price target on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, May 7th. Finally, Barclays started coverage on EOG Resources in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 price objective on the stock. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus target price of $143.20.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.