EOG Resources: 2Q Earnings Snapshot
HOUSTON (AP) _ EOG Resources Inc. (EOG) on Thursday reported second-quarter earnings of $696.7 million.
On a per-share basis, the Houston-based company said it had net income of $1.20. Earnings, adjusted for non-recurring costs, came to $1.37 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The oil and gas company posted revenue of $4.24 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $3.91 billion.
EOG Resources shares have risen 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 6 percent. In the final minutes of trading on Thursday, shares hit $125.93, a climb of 36 percent in the last 12 months.