EOG Resources (NYSE:EOG) Posts Quarterly Earnings Results, Beats Estimates By $0.18 EPS

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

EOG Resources Stock Performance

NYSE EOG traded down $0.19 on Friday, hitting $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 quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock has a market cap of $70.64 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 2.15 and a beta of 1.30. The company’s 50-day moving average is $124.57 and its two-hundred day moving average is $123.61.

EOG Resources Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, October 17th. This represents a $3.64 annualized dividend and a yield of 2.96%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EOG. Scotiabank reduced their target price on shares of EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Cowen boosted their price objective on shares of EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Benchmark reiterated a “hold” rating on shares of EOG Resources in a report on Tuesday, May 7th. Wolfe Research assumed coverage on shares of EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Bank of America reiterated a “buy” rating and issued a $151.00 price objective on shares of EOG Resources in a report on Friday, June 14th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EOG Resources currently has a consensus rating of “Hold” and an average price target of $143.20.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 2,685 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 109,040 shares in the company, valued at approximately $14,206,821.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Ezra Y. Yacob sold 4,729 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at $19,457,792.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael P. Donaldson sold 2,685 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $130.29, for a total transaction of $349,828.65. Following the completion of the transaction, the executive vice president now 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 90 days, insiders sold 16,512 shares of company stock worth $2,144,972. 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.