EOG beats by 6 cents. Link here.
Yahoo!Finance is reporting:
EOG Resources Inc reported a
better-than-expected fourth-quarter profit on Monday as the U.S. oil and
natural gas company pumped more crude oil from fields such as the Eagle
Ford in Texas.
EOG, which
said it expects higher spending of $8.1 billion to $8.3 billion this
year, has invested heavily in North American shales that produce
higher-return oil, a strategy that helped push the company's crude and
condensate output up 50 percent in the fourth quarter.
Shares
of EOG rose to $184 per share in post-market trading on Monday, up 2
percent from the New York Stock Exchange close of $180.40.
The
Houston-based company had a profit of $580 million, or $2.12 per share,
compared with a loss of $505 million, or $1.88 per share when EOG wrote
down the value of some Canadian assets.
Excluding one-time items, EOG had a fourth-quarter profit of $2.00 per
share. Analysts polled by Thomson Reuters I/B/E/S had expected a profit
of $1.94 per share.
Its board of directors approved a two-for-one stock split in the form of
a stock dividend that is payable to shareholders of record as of March
17.
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