EOG Resources (NYSE:EOG) Releases Earnings Results

EOG Resources (NYSE:EOG) posted its quarterly earnings results on Thursday. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.42, FiscalAI reports. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $7.26 billion. EOG Resources had a return on equity of 26.79% and a net margin of 27.54%. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 EPS.

EOG Resources Stock Up 2.0%

Shares of NYSE:EOG traded up $2.90 during trading on Friday, reaching $147.79. 4,564,319 shares of the stock were exchanged, compared to its average volume of 2,901,363. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. EOG Resources has a 1-year low of $101.59 and a 1-year high of $165.93. The stock has a fifty day moving average of $149.32 and a two-hundred day moving average of $137.83. The firm has a market cap of $77.52 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.52 and a beta of 0.27.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from EOG Resources’s previous quarterly dividend of $1.02. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.0%. EOG Resources’s payout ratio is currently 31.75%.

Analysts Set New Price Targets

Several analysts have recently weighed in on EOG shares. Mizuho set a $165.00 price objective on shares of EOG Resources in a research note on Thursday, October 15th. Capital One Financial lowered shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 target price on the stock. in a research note on Wednesday, August 26th. Susquehanna raised their price target on shares of EOG Resources from $170.00 to $187.00 and gave the stock a “positive” rating in a report on Tuesday, October 20th. UBS Group reaffirmed a “buy” rating and issued a $186.00 price target (up from $183.00) on shares of EOG Resources in a research note on Friday, October 9th. Finally, Seaport Research Partners started coverage on shares of EOG Resources in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $161.80.

Insider Buying and Selling

In other EOG Resources news, EVP Michael P. Donaldson sold 7,336 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. The trade was a 6.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at approximately $36,876,797.10. The trade was a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,317 shares of company stock worth $7,823,480 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

More EOG Resources News

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Q3 results beat expectations: EOG reported earnings of $4.87 per share, versus the $4.45 consensus, and revenue of $8.55 billion, above estimates of $7.26 billion and up 46.2% year over year. Earnings per share rose from $2.71 a year earlier. Reuters article
• Positive Sentiment: Production and pricing supported performance: The company’s record production and stronger commodity prices helped drive profit growth and robust cash flow, reinforcing the quarter’s positive results. Zacks article
• Positive Sentiment: Dividend raised: EOG increased its quarterly dividend from $1.02 to $1.10 per share, about 7.8%, equivalent to $4.40 annually and a roughly 3% yield. The increase signals confidence in cash generation and adds to shareholder returns. EOG press release
• Neutral Sentiment: Barclays lifted its price target from $147 to $155, but maintained an “equal weight” rating, suggesting limited conviction that EOG will outperform despite the higher target. Barclays rating information

EOG Resources Company Profile

EOG Resources is an independent energy company focused on exploring for, developing and producing crude oil, natural gas and natural gas liquids. Its operations include drilling and managing wells, with a focus on resources in shale and other tight-rock formations.

The company’s activities are concentrated in the United States, including major producing regions such as the Permian Basin and Eagle Ford. EOG also has international operations, including in Trinidad and Tobago and the United Arab Emirates.

Founded in 1985 as Enron Oil & Gas, the company became independent in 1999 and adopted the name EOG Resources.