EOG Resources (NYSE:EOG) Issues Quarterly Earnings Results

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

EOG Resources Price Performance

EOG stock traded down $0.19 during midday trading on Friday, reaching $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 52-week low of $108.94 and a 52-week high of $139.67. The company has a market cap of $70.64 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.30. The company’s fifty day simple moving average is $124.57 and its 200 day simple moving average is $123.61. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13.

EOG Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, October 17th. EOG Resources’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of research firms have issued reports on EOG. Citigroup raised their price target on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $147.00 price target on shares of EOG Resources in a research report on Wednesday, July 10th. Mizuho increased their price objective on EOG Resources from $140.00 to $156.00 and gave the company a “buy” rating in a report on Monday, May 13th. Piper Sandler lifted their target price on EOG Resources from $153.00 to $154.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Finally, Bank of America reiterated a “buy” rating and issued a $151.00 price objective on shares of EOG Resources in a research note on Friday, June 14th. Fifteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EOG Resources has a consensus rating of “Hold” and an average target price of $143.20.

Insider Activity

In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the sale, the president now directly owns 161,109 shares of the company’s stock, valued at approximately $20,987,669.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total transaction of $611,506.99. Following the transaction, the chief executive officer now directly owns 150,474 shares in the company, valued at approximately $19,457,792.94. The disclosure for this sale can be found here. Insiders sold 16,512 shares of company stock worth $2,144,972 over the last three months. Insiders own 0.30% 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.