EOG EOG Resources Inc

   By Stephen Nakrosis 
 

Shares of EOG Resources Inc. (EGO) are rising in Thursday's after-hours market, as the company reported first-quarter earnings that topped estimates and said it would increase its quarterly dividend by 31%.

At 4:52 p.m. ET, the company's shares had risen 2.61% to trade at $91.50. They closed the day's regular trading session with a 2.96% loss, ending the day at $89.17.

The Houston-based crude-oil and natural-gas exploration company posted quarterly net income of $635.4 million, or $1.10 a share. Analysts polled by FactSet expected profit of $564 million, or 96 cents a share.

On an adjusted basis, EOG reported earnings per share of $1.19. Analysts were looking for 99 cents an adjusted share, per FactSet.

Revenue was $4.06 billion, EOG said, beating the $3.76 billion analysts were targeting.

The company also said it would raise its quarterly dividend to 28.75 cents.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

May 02, 2019 17:32 ET (21:32 GMT)

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