EOG Resources (NYSE:EOG) Releases Earnings Results

EOG Resources (NYSE:EOG) issued its earnings results on Thursday. The energy exploration company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.45 by $0.42, FiscalAI reports. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $7.26 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. EOG Resources’s revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 earnings per share.

EOG Resources Stock Up 0.7%

EOG opened at $148.23 on Tuesday. EOG Resources has a twelve month low of $101.59 and a twelve month high of $165.93. The company’s 50-day moving average price is $149.41 and its two-hundred day moving average price is $138.03. The stock has a market cap of $77.75 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.52 and a beta of 0.27. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25.

EOG Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 15th will be paid a $1.10 dividend. The ex-dividend date 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 yield of 3.0%. EOG Resources’s dividend payout ratio is presently 26.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EOG shares. Truist Financial set a $166.00 price objective on EOG Resources and gave the company a “hold” rating in a research note on Friday. Weiss Ratings upgraded shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Citigroup restated a “neutral” rating and set a $150.00 price target (up from $141.00) on shares of EOG Resources in a report on Thursday, August 27th. Wall Street Zen raised EOG Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Zacks Research upgraded EOG Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average target price of $161.96.

Insider Transactions at EOG Resources

In related news, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $148.00, for a total value of $1,085,728.00. Following the transaction, the executive vice president owned 100,558 shares in the company, valued at approximately $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ezra Y. Yacob sold 35,942 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This trade represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 in the last quarter. Insiders own 0.14% of the company’s stock.

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.