EOG Resources (NYSE:EOG) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

EOG Resources (NYSE:EOG) released its quarterly earnings results on Friday. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19, Zacks reports. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%.

EOG Resources Price Performance

Shares of EOG traded down $3.62 during trading hours on Friday, reaching $126.99. 6,868,662 shares of the stock traded hands, compared to its average volume of 2,926,389. EOG Resources has a 52-week low of $113.83 and a 52-week high of $139.67. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $71.43 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The company’s 50-day moving average price is $129.30 and its two-hundred day moving average price is $127.88.

EOG Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a $0.975 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.07%. EOG Resources’s dividend payout ratio (DPR) is presently 31.40%.

Analyst Ratings Changes

EOG has been the subject of a number of research analyst reports. Mizuho lowered their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Truist Financial boosted their target price on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and issued a $144.00 target price (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Citigroup boosted their price objective on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Monday, January 13th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EOG Resources has a consensus rating of “Moderate Buy” and a consensus price target of $145.30.

Insiders Place Their Bets

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

EOG Resources announced that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.