| EOG Resources Posts Q3 Earnings, Revenues Top Estimates | |
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EOG Resources Inc. EOG reported third-quarter 2015 adjusted earnings of 2 cents per share. The Zacks Consensus Estimate was of a loss of 30 cents. Notably, the bottom line witnessed a massive decline from the year-ago quarter adjusted earnings of $1.31 per share amid weak commodity prices and lower production volumes. EOG Resources Inc. (EOG) - Earnings Surprise | FindTheCompany Total revenue in the quarter plunged over 57% year over year to $2,172.4 million. Nonetheless, the top line beat the Zacks Consensus Estimate of $2,141 million.
Operational Performance
During the quarter, EOG’s total volume decreased 7.3% from the year-earlier level to 52.4 million barrels of oil equivalent (MMBoe) or 569.6 thousand barrels of oil equivalent per day (MBoe/d).
Crude oil and condensate production in the quarter totaled 279.5 thousand barrels per day (MBbl/d), down 6.7% from the prior-year level. Natural gas liquids (NGL) volumes decreased 10% from the year-ago quarter level to 77.8 MBbl/d. Natural gas volumes were 1,274 million cubic feet per day (MMcf/d), lower than the year-earlier level of 1,369 MMcf/d.
Average price realization for crude oil and condensates plummeted nearly 53% year over year to $45.91 per barrel. Quarterly NGL prices fell more than 59% to $13.24 per barrel from $32.67 a year ago. Natural gas was sold at $2.40 per thousand cubic feet (Mcf), thereby reflecting a year-over-year plunge of nearly 32%.
Liquidity Position
At the end of the third quarter, EOG had cash and cash equivalents of $742.7 million and long-term debt of $6,393.9 million. This represents a debt-to-capitalization ratio of 32.5%.
During the quarter, the company generated approximately $868.7 million in discretionary cash flow compared with $2,211.8 million in the year-ago quarter.
Guidance
EOG’s fourth-quarter total production is expected between 549.1 MBoe/d and 577.4 MBoe/d, which includes 72–78 MBbls/d of NGL and 1,214–1,280 MMcf/d of gas. For the full year, EOG expects total volume between 566.8 MBoe/d and 574.4 MBoe/d, comprising NGL in the 75.2–76.4 MBbl/d range and natural gas in the 1,254–1,270 MMcf/d band.
For the fourth quarter as well as full year, the company expects crude oil and condensate volumes in the range of 274.8–286.0 MBbls/d and 282.7–285.0 MBbls/d, respectively.
The company maintained its total capital expenditure budget in the range of $4.7–$4.9 billion for 2015.
Zacks Rank and Stocks to Consider
EOG currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are Natural Gas Services Group Inc. NGS, Sprague Resources, L.P. SRLP and Seadrill Partners L.P SDLP. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EOG RES INC (EOG): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report NATURAL GAS SVC (NGS): Free Stock Analysis Report SPRAGUE RESRCS (SRLP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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EOG Resources
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CODE : EOG |
ISIN : US26875P1012 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
EOG Res. est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. EOG Res. est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 78,5 milliards US$ (73,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 11 juillet 2003 à 10,00 US$, et son plus haut niveau récent le 26 avril 2024 à 135,70 US$. EOG Res. possède 578 636 343 actions en circulation. |