EOG Resources beats Q1 estimates on higher prices, ups FY output forecast

EOG Resources

05/05/2026 21:29

Overview

U.S. oil and gas producer's Q1 revenue beat analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company returned nearly $950 mln to shareholders via dividends and share repurchases

Outlook

EOG raises full-year 2026 oil and NGL production guidance due to capital reallocation

Company maintains full-year 2026 capital expenditures guidance at $6.3 bln to $6.7 bln

EOG expects full-year 2026 crude oil equivalent volumes of 1,373.7-1,418.7 MBoed

Result Drivers

HIGHER PRODUCTION VOLUMES - Oil, natural gas, and NGL volumes exceeded guidance midpoints, supporting results

STRONG PRICE REALIZATIONS - Realized oil and natural gas prices were better than guidance midpoints

COST DISCIPLINE - Total per-unit cash operating costs and DD&A both came in better than guidance midpoints

Company press release: ID:nPn3YYp6da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.92 bln
$5.99 bln (11 Analysts)
Q1 Adjusted EPS
Beat
$3.41
$3.19 (27 Analysts)
Q1 EPS
$3.70
Q1 Adjusted Net Income
Beat
$1.83 bln
$1.60 bln (19 Analysts)
Q1 Net Income
$1.98 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 18 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for EOG Resources Inc is $150.00, about 5.9% above its May 4 closing price of $141.61

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)