EOG Resources (NYSE:EOG) Posts Quarterly Earnings Results

EOG Resources (NYSE:EOG) posted its quarterly earnings results on Thursday. The energy exploration company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29, Zacks reports. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.48 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 EPS.

EOG Resources Price Performance

EOG Resources stock traded up $0.19 during mid-day trading on Friday, hitting $105.19. 7,052,606 shares of the company were exchanged, compared to its average volume of 3,628,318. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a market capitalization of $57.44 billion, a P/E ratio of 10.22, a PEG ratio of 8.20 and a beta of 0.72. The business’s 50 day simple moving average is $112.35 and its two-hundred day simple moving average is $115.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 1.61.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $4.08 annualized dividend and a yield of 3.9%. EOG Resources’s dividend payout ratio (DPR) is presently 39.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EOG shares. Royal Bank Of Canada boosted their price objective on shares of EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price target on EOG Resources from $132.00 to $131.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Piper Sandler set a $129.00 price target on EOG Resources and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Morgan Stanley dropped their price objective on EOG Resources from $141.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, Siebert Williams Shank decreased their target price on EOG Resources from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources presently has an average rating of “Hold” and a consensus price target of $140.76.

Institutional Trading of EOG Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new stake in shares of EOG Resources during the 2nd quarter worth about $209,000. State of Wyoming lifted its stake in shares of EOG Resources by 22.9% during the second quarter. State of Wyoming now owns 3,149 shares of the energy exploration company’s stock valued at $377,000 after buying an additional 586 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its position in EOG Resources by 1.6% during the second quarter. Parr Mcknight Wealth Management Group LLC now owns 13,916 shares of the energy exploration company’s stock worth $1,664,000 after acquiring an additional 218 shares during the last quarter. Evergreen Capital Management LLC grew its stake in EOG Resources by 65.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 44,655 shares of the energy exploration company’s stock worth $5,341,000 after acquiring an additional 17,600 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in EOG Resources by 71.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 673,782 shares of the energy exploration company’s stock valued at $80,719,000 after acquiring an additional 281,098 shares during the last quarter. Hedge funds and other institutional investors own 89.91% of the company’s stock.

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.