EOG Resources Inc (EOG) Releases Earnings Results, Beats Expectations By $0.01 EPS

EOG Resources Inc (EOG) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $-0.83 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.84. The company posted revenue of $1354.30 million in the period, compared to analysts expectations of $1447.60 million. The company’s revenue was down -41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on EOG Resources Inc. Shares were Downgraded by Deutsche Bank on Apr 21, 2016 to ” Hold” and Lowered the Price Target to $ 83 from a previous price target of $85 .EOG Resources Inc was Downgraded by Stifel to ” Hold” on Apr 6, 2016. Company shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $83 .

EOG Resources Inc closed down -1.29 points or -1.60% at $79.34 with 37,57,590 shares getting traded on Wednesday. Post opening the session at $80.61, the shares hit an intraday low of $78.81 and an intraday high of $82 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 11, 2016, Frank G Wisner (director) sold 4,914 shares at $73.27 per share price. According to the SEC, on Mar 8, 2016, H Leighton Steward (director) sold 28,000 shares at $74.70 per share price. On Mar 8, 2016, Charles R Crisp (director) sold 14,000 shares at $75.11 per share price, according to the Form-4 filing with the securities and exchange commission.

EOG Resources Inc. (EOG) is engaged in the exploration development production and marketing of crude oil and natural gas. The Company operates in producing basins in the United States Canada The Republic of Trinidad and Tobago (Trinidad) the United Kingdom The People’s Republic of China (China) and the Argentine Republic (Argentina) among others. As of December 31 2014 EOG’s total estimated net proved reserves were 2497 million barrels of oil equivalent (MMBoe) of which 1140 million barrels (MMBbl) are crude oil and condensate reserves 467 MMBbl are natural gas liquids (NGLs) reserves and 5343 billion cubic feet or 890 MMBoe are natural gas reserves. As of December 31 2014 approximately 97% of the Company’s net proved reserves on a crude oil equivalent basis are located in the United States and 3% in Trinidad. Its operations are focused in the basins in the United States with a focus on crude oil.

EOG Resources Inc

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