EOG Resources (NYSE:EOG) Announces Quarterly Earnings Results

EOG Resources (NYSE:EOG) issued its earnings results on Thursday. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.18, Briefing.com reports. The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.65%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.49 earnings per share.

EOG Resources Stock Down 0.2 %

Shares of NYSE:EOG traded down $0.19 during trading on Friday, reaching $122.92. The stock had a trading volume of 6,668,943 shares, compared to its average volume of 2,636,904. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a market capitalization of $70.64 billion, a P/E ratio of 9.70, a PEG ratio of 2.15 and a beta of 1.30. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $124.57 and its 200 day simple moving average is $123.61.

EOG Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Insider Activity

In related news, EVP Michael P. Donaldson sold 2,685 shares of EOG Resources stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $130.29, for a total value of $349,828.65. Following the completion of the sale, the executive vice president now directly owns 109,040 shares in the company, valued at approximately $14,206,821.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other EOG Resources news, COO Jeffrey R. Leitzell sold 7,802 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the completion of the transaction, the chief operating officer now directly owns 39,054 shares of the company’s stock, valued at approximately $5,079,753.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Donaldson sold 2,685 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $130.29, for a total transaction of $349,828.65. Following the transaction, the executive vice president now directly owns 109,040 shares of the company’s stock, valued at $14,206,821.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,512 shares of company stock worth $2,144,972. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EOG. Royal Bank of Canada reissued a “sector perform” rating and set a $147.00 price objective on shares of EOG Resources in a report on Wednesday, July 10th. Stifel Nicolaus reduced their target price on shares of EOG Resources from $153.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Bank of America reaffirmed a “buy” rating and set a $151.00 target price on shares of EOG Resources in a report on Friday, June 14th. Morgan Stanley upped their target price on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Sanford C. Bernstein reduced their target price on shares of EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Fifteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.20.

About EOG Resources

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.