EOG Resources (NYSE:EOG) Announces Earnings Results

EOG Resources (NYSE:EOG) announced its earnings results on Friday. The energy exploration company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.19, Zacks reports. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion.

EOG Resources Stock Performance

Shares of EOG stock opened at $126.99 on Friday. The stock has a market capitalization of $71.43 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. EOG Resources has a 52-week low of $113.83 and a 52-week high of $139.67. The stock’s 50-day moving average price is $129.30 and its 200 day moving average price is $127.89. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 16th. EOG Resources’s dividend payout ratio (DPR) is currently 31.40%.

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

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of EOG Resources 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 sale, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on EOG shares. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays cut their target price on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday. Bank of America restated a “neutral” rating and set a $144.00 price target (down from $151.00) on shares of EOG Resources in a research report on Monday, January 13th. Mizuho decreased their target price on EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company upgraded EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Twelve analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, EOG Resources presently has an average rating of “Moderate Buy” and an average price target 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.