EOG Resources posted earnings of 3 cents per share on revenue of $2.32 billion for the period.
The company was expected to report a break even quarter with revenue of $2.71 billion, according to analysts polled by Thomson Reuters.
In the same quarter of last year, the company raked in earnings of $1.40 per share on revenue of $4.08 billion.
About 7.3 million shares of EOG Resources exchanged hands as of 4:41 p.m. ET today, compared to its average trading volume of about 3.66 million shares a day.
Houston-based EOG Resources explores for, develops, produces and markets crude oil and natural gas. The company operates in producing basins in regions worldwide including the U.S., Canada, Trinidad, the U.K., China, and Argentina.
Insight from TheStreet's Research Team:
EOG Resources is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager and Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:
EOG Resources (EOG:NYSE; $98.90; 900 shares; 3.41%; Sector: Energy): Few companies, if any, have benefited more from the U.S. shale revolution than EOG, which has been a leader in discovering and exploiting unconventional oil plays. Being at the leading edge in exploration expertise has enabled the company to build large-scale, core acreage positions at attractive costs in the two largest unconventional oil plays in the U.S. (Eagle Ford and Bakken).
Capturing the core, maximizing recoveries with innovative completion techniques, and proactively managing cost and marketing logistics has allowed EOG to deliver leading oil production growth and returns on capital employed among exploration and production companies (E&Ps). Our target is $110.
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Separately, TheStreet Ratings team rates EOG RESOURCES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate EOG RESOURCES INC (EOG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, notable return on equity and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
You can view the full analysis from the report here: EOG Ratings Report