EOG Resources (NYSE:EOG) Issues Quarterly Earnings Results

EOG Resources (NYSE:EOG) issued its quarterly earnings data on Thursday. The energy exploration company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12, Briefing.com reports. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $5.91 billion. EOG Resources had a return on equity of 25.11% and a net margin of 30.33%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 earnings per share.

EOG Resources Price Performance

EOG Resources stock traded down $1.78 during trading hours on Friday, hitting $130.02. The stock had a trading volume of 5,660,840 shares, compared to its average volume of 2,953,117. EOG Resources has a 1-year low of $106.32 and a 1-year high of $139.67. The stock has a market capitalization of $74.79 billion, a price-to-earnings ratio of 10.27 and a beta of 1.38. The stock’s fifty day moving average is $127.48 and its two-hundred day moving average is $122.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.44 and a quick ratio of 2.13.

EOG Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 dividend on an annualized basis and a yield of 2.80%. EOG Resources’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. KeyCorp lifted their target price on shares of EOG Resources from $147.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Scotiabank downgraded shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $135.00 to $155.00 in a research note on Thursday, April 11th. TD Cowen boosted their price target on EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Citigroup boosted their target price on EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $142.27.

EOG Resources Company Profile

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.