EOG Resources (NYSE:EOG) Posts Earnings Results, Beats Expectations By $0.19 EPS

EOG Resources (NYSE:EOG - Get Free Report) announced its quarterly earnings data on Friday. The energy exploration company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.19, Zacks reports. The firm had revenue of $5.59 billion during the quarter, compared to analysts' expectations 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 5.2 %

Shares of EOG stock traded down $6.66 during trading on Monday, reaching $120.28. The company's stock had a trading volume of 7,431,360 shares, compared to its average volume of 3,039,013. The company has a market cap of $67.65 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. EOG Resources has a one year low of $115.40 and a one year high of $139.67. The business has a fifty day moving average price of $129.30 and a 200-day moving average price of $127.90. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $0.975 per share. The ex-dividend date is Wednesday, April 16th. This represents a $3.90 annualized dividend and a dividend yield of 3.24%. EOG Resources's dividend payout ratio is currently 31.40%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EOG. Mizuho dropped their price target on shares of EOG Resources from $156.00 to $148.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Barclays dropped their target price on shares of EOG Resources from $148.00 to $146.00 and set an "equal weight" rating for the company in a research report on Friday. Morgan Stanley reduced their price target on EOG Resources from $143.00 to $142.00 and set an "equal weight" rating on the stock in a research report on Monday. 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. Finally, Royal Bank of Canada upgraded EOG Resources from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $150.00 to $155.00 in a report on Wednesday, February 12th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $145.80.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the transaction, the chief operating officer now directly owns 42,703 shares in the company, valued at $5,162,365.67. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company's stock.

EOG Resources announced that its Board of Directors has approved a share buyback program on Thursday, November 7th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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.