EOG Resources (NYSE:EOG) Releases Quarterly Earnings Results, Beats Estimates By $0.19 EPS

EOG Resources (NYSE:EOG) released its earnings results on Friday. The energy exploration company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.19, Zacks reports. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%.

EOG Resources Stock Down 2.8 %

Shares of EOG stock opened at $126.99 on Friday. The stock’s 50-day simple moving average is $129.30 and its 200-day simple moving average is $127.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The firm has a market capitalization of $71.43 billion, a PE ratio of 10.22, a P/E/G ratio of 3.58 and a beta of 1.27. EOG Resources has a fifty-two week low of $113.83 and a fifty-two week high of $139.67.

EOG Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s payout ratio is 31.40%.

EOG Resources declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EOG. Royal Bank of Canada raised EOG Resources from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Wolfe Research upgraded EOG Resources from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Raymond James boosted their price objective on EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EOG Resources has a consensus rating of “Moderate Buy” and a consensus target price of $145.30.

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.