Will EOG Resources (EOG) Stock Gain on Earnings Beat? Jim Cramer Weighs In

EOG Resources (EOG) reported better than expected earnings for the third quarter of 2015.
By Amanda Gomez ,

NEW YORK (TheStreet) -- After the market close on Thursday, EOG Resources (EOG) - Get Report reported earnings that exceeded expectations for the 2015 third quarter. Revenue fell short of estimates.

The oil and gas company posted earnings of 2 cents per share for the latest quarter, beatings estimates of a loss of 30 cents per share.

Revenue fell year-over-year to $2.17 billion from $5.12 billion, missing estimates of $2.35 billion as the company faces lower commodities prices.

The Street's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust portfolio, and Jack Mohr, research director, had this to say about the company in an Action Alerts PLUS post:

"We are impressed by management's ability to remain steady in the shaky macro oil environment. The company's focus on its top plays in the Eagle Ford, Bakken, and Delaware Basin, combined with cost management has allowed for planned flat year over year U.S. production despite lower commodity prices."

EOG Resources produced an average of 52.4 million barrels of oil equivalent a day, but capital expenditures declined 36% year-over-year.

EOG Resources stock closed at $86.47 on Thursday.

Separately, TheStreet Ratings team rates EOG RESOURCES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate EOG RESOURCES INC (EOG) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: EOG

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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