EOG Resources Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of EOG Resources (NYS: EOG) hit a gusher today and jumped 12% after the company released earnings.
So what: Revenue jumped to $2.9 billion, nearly doubling the quarter from a year ago. But more impressively, earnings per share excluding special items increased to $0.83, higher than the $0.78 analysts were expecting.
Now what: Management has been happy with better-than-expected production in Eagle Ford, and the company is accelerating exploration in the Bakken shale. I see nothing to complain about here and think the future looks bright with expanded exploration. I'm bullish on EOG going forward as shale plays become a bigger and bigger portion of our energy landscape.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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