EOG Resources (NYSE:EOG) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

EOG Resources (NYSE:EOG) announced its quarterly earnings data on Thursday. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.12, Briefing.com reports. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.91 billion. EOG Resources had a return on equity of 25.11% and a net margin of 30.33%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $2.69 earnings per share.

EOG Resources Stock Down 1.4 %

Shares of EOG Resources stock traded down $1.78 during midday trading on Friday, reaching $130.02. 5,660,840 shares of the company’s stock traded hands, compared to its average volume of 2,953,117. The company has a market cap of $74.79 billion, a price-to-earnings ratio of 10.27 and a beta of 1.38. EOG Resources has a 52 week low of $106.32 and a 52 week high of $139.67. The company’s 50 day simple moving average is $127.48 and its 200 day simple moving average is $122.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44.

EOG Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.91 per share. The ex-dividend date is Wednesday, July 17th. This represents a $3.64 annualized dividend and a dividend yield of 2.80%. EOG Resources’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EOG. Mizuho increased their target price on shares of EOG Resources from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 target price on shares of EOG Resources in a report on Tuesday, April 9th. Morgan Stanley lifted their target price on EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Raymond James dropped their price target on EOG Resources from $148.00 to $145.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays began coverage on EOG Resources in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 price objective for the company. Thirteen 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, EOG Resources has a consensus rating of “Hold” and an average price target of $142.27.

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.