EOG Resources (NYSE:EOG) Releases Quarterly Earnings Results, Beats Expectations By $0.42 EPS

EOG Resources (NYSE:EOG) announced its earnings results on Thursday. The energy exploration company reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.42, FiscalAI reports. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same period last year, the business posted $2.71 EPS. EOG Resources’s revenue for the quarter was up 46.2% on a year-over-year basis.

EOG Resources Stock Up 2.0%

Shares of NYSE:EOG traded up $2.90 on Friday, hitting $147.79. 4,564,319 shares of the company’s stock were exchanged, compared to its average volume of 2,619,296. EOG Resources has a 1-year low of $101.59 and a 1-year high of $165.93. The company has a market capitalization of $77.52 billion, a PE ratio of 9.55, a P/E/G ratio of 0.56 and a beta of 0.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm’s 50-day moving average is $149.32 and its 200 day moving average is $137.83.

EOG Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, January 15th. This represents a $4.40 annualized dividend and a dividend yield of 3.0%. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s payout ratio is currently 31.75%.

EOG Resources News Summary

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Q3 results beat expectations: EOG reported earnings of $4.87 per share, versus the $4.45 consensus, and revenue of $8.55 billion, above estimates of $7.26 billion and up 46.2% year over year. Earnings per share rose from $2.71 a year earlier. Reuters article
• Positive Sentiment: Production and pricing supported performance: The company’s record production and stronger commodity prices helped drive profit growth and robust cash flow, reinforcing the quarter’s positive results. Zacks article
• Positive Sentiment: Dividend raised: EOG increased its quarterly dividend from $1.02 to $1.10 per share, about 7.8%, equivalent to $4.40 annually and a roughly 3% yield. The increase signals confidence in cash generation and adds to shareholder returns. EOG press release
• Neutral Sentiment: Barclays lifted its price target from $147 to $155, but maintained an “equal weight” rating, suggesting limited conviction that EOG will outperform despite the higher target. Barclays rating information

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EOG shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $186.00 target price (up from $183.00) on shares of EOG Resources in a research note on Thursday, September 17th. Freedom Capital cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Citigroup reissued a “neutral” rating and issued a $150.00 price target (up from $141.00) on shares of EOG Resources in a research report on Thursday, August 27th. Capital One Financial downgraded shares of EOG Resources from an “overweight” rating to an “equal weight” rating and set a $153.00 price target for the company. in a research note on Wednesday, August 26th. Finally, Scotiabank began coverage on EOG Resources in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $144.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.80.

Insider Transactions at EOG Resources

In related news, COO Jeffrey R. Leitzell sold 9,039 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $140.61, for a total transaction of $1,270,973.79. Following the completion of the sale, the chief operating officer owned 90,790 shares in the company, valued at $12,765,981.90. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael P. Donaldson sold 7,336 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the transaction, the executive vice president directly owned 100,558 shares of the company’s stock, valued at $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 52,317 shares of company stock valued at $7,823,480. Corporate 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.