EOG Resources (NYSE:EOG) Issues Earnings Results

EOG Resources (NYSE:EOG) released its quarterly earnings results on Thursday. The energy exploration company reported $4.87 EPS for the quarter, topping the consensus estimate 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 business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same period last year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 46.2% on a year-over-year basis.

EOG Resources Stock Performance

NYSE EOG traded up $2.90 on Friday, reaching $147.79. The stock had a trading volume of 4,564,319 shares, compared to its average volume of 2,619,296. The stock has a market cap of $77.52 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.27. EOG Resources has a 12-month low of $101.59 and a 12-month high of $165.93. The business’s 50-day moving average price is $149.32 and its 200 day moving average price is $137.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85.

EOG Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Friday, January 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, January 15th. This is an increase from EOG Resources’s previous quarterly dividend of $1.02. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial set a $166.00 target price on EOG Resources in a research note on Friday. Roth Capital reissued a “neutral” rating and set a $138.00 price target on shares of EOG Resources in a research report on Wednesday, August 5th. Weiss Ratings raised shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective on shares of EOG Resources in a research note on Saturday, October 3rd. Finally, Freedom Capital cut shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Two 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $161.80.

Insider Buying and Selling

In other news, EVP Michael P. Donaldson sold 7,336 shares of EOG Resources stock in a transaction dated 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 sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ezra Y. Yacob sold 35,942 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $152.10, for a total value of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,317 shares of company stock worth $7,823,480 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Key Stories Impacting EOG Resources

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

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.