EOG Resources (NYSE:EOG) Announces Earnings Results, Beats Expectations By $0.18 EPS

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

EOG Resources Trading Down 0.2 %

Shares of NYSE:EOG traded down $0.19 during trading on Friday, hitting $122.92. The company had a trading volume of 6,668,943 shares, compared to its average volume of 2,636,904. The stock has a market cap of $70.64 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.30. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a fifty day simple moving average of $124.57 and a two-hundred day simple moving average of $123.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.32 and a quick ratio of 2.05.

EOG Resources Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on EOG. Wolfe Research began coverage on EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $147.00 price objective on shares of EOG Resources in a research report on Wednesday, July 10th. Piper Sandler upped their price objective on EOG Resources from $153.00 to $154.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Bank of America reiterated a “buy” rating and set a $151.00 price objective on shares of EOG Resources in a research report on Friday, June 14th. Finally, Benchmark restated a “hold” rating on shares of EOG Resources in a research report on Tuesday, May 7th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $143.20.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 7,802 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $130.07, for a total value of $1,014,806.14. Following the sale, the chief operating officer now directly owns 39,054 shares in the company, valued at $5,079,753.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ezra Y. Yacob sold 4,729 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the sale, the chief executive officer now owns 150,474 shares in the company, valued at $19,457,792.94. The disclosure for this sale can be found here. Insiders sold 16,512 shares of company stock valued at $2,144,972 in the last ninety days. Insiders own 0.30% of the company’s stock.

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.