EOG Resources (NYSE:EOG) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

EOG Resources (NYSE:EOG) announced its earnings results on Thursday. The energy exploration company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29, Zacks reports. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm earned $2.89 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year.

EOG Resources Stock Performance

EOG Resources stock traded up $0.19 during midday trading on Friday, reaching $105.19. 7,052,606 shares of the company’s stock were exchanged, compared to its average volume of 3,628,318. The firm has a market cap of $57.44 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 8.20 and a beta of 0.72. The stock’s 50-day simple moving average is $112.35 and its 200 day simple moving average is $115.60. EOG Resources has a 52 week low of $102.52 and a 52 week high of $138.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 1.79.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a $1.02 dividend. The ex-dividend date is Friday, January 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.9%. EOG Resources’s dividend payout ratio (DPR) is currently 39.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Roth Capital reduced their target price on EOG Resources from $126.00 to $114.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Wolfe Research decreased their target price on EOG Resources from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Scotiabank reaffirmed a “sector perform” rating and set a $130.00 price target on shares of EOG Resources in a research note on Friday, September 26th. Wells Fargo & Company decreased their target price on EOG Resources from $149.00 to $127.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Finally, Siebert Williams Shank reduced their price objective on EOG Resources from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $140.76.

Hedge Funds Weigh In On EOG Resources

Hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new position in EOG Resources during the 2nd quarter worth about $209,000. State of Wyoming lifted its position in shares of EOG Resources by 22.9% in the 2nd quarter. State of Wyoming now owns 3,149 shares of the energy exploration company’s stock worth $377,000 after purchasing an additional 586 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its stake in shares of EOG Resources by 1.6% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 13,916 shares of the energy exploration company’s stock valued at $1,664,000 after purchasing an additional 218 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of EOG Resources by 65.1% during the second quarter. Evergreen Capital Management LLC now owns 44,655 shares of the energy exploration company’s stock worth $5,341,000 after buying an additional 17,600 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of EOG Resources by 71.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 673,782 shares of the energy exploration company’s stock worth $80,719,000 after buying an additional 281,098 shares during the period. Institutional investors own 89.91% of the company’s stock.

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.