EOG Resources (NYSE:EOG) Releases Earnings Results

EOG Resources (NYSE:EOG) announced its earnings results on Thursday. The energy exploration company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the business earned $2.89 earnings per share. EOG Resources’s quarterly revenue was down 2.0% on a year-over-year basis.

EOG Resources Stock Up 0.2%

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

EOG Resources Announces Dividend

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

Institutional Investors Weigh In On EOG Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in EOG. Sivia Capital Partners LLC bought a new position in shares of EOG Resources in the second quarter valued at about $258,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of EOG Resources during the 2nd quarter worth about $209,000. MUFG Securities EMEA plc acquired a new position in EOG Resources in the 2nd quarter valued at about $193,000. Chapman Financial Group LLC acquired a new position in EOG Resources in the 2nd quarter valued at about $168,000. Finally, Osterweis Capital Management Inc. raised its holdings in EOG Resources by 3,790.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 389 shares of the energy exploration company’s stock valued at $47,000 after acquiring an additional 379 shares during the period. 89.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EOG has been the topic of several research reports. Royal Bank Of Canada upped their price objective on EOG Resources from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Mizuho dropped their target price on EOG Resources from $140.00 to $133.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. UBS Group upped their price target on EOG Resources from $142.00 to $144.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley lowered their price objective on EOG Resources from $141.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. dropped their price objective on EOG Resources from $132.00 to $131.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, EOG Resources presently has a consensus rating of “Hold” and an average price target of $140.76.

About EOG Resources

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.