BUZZ-EOG Resources beats Q4 estimates on higher production

Shares of oil and gas company EOG Resources EOG.N down 4% at $125.27

Company on Thursday beat estimates for Q4 results, as higher production helped offset lower oil prices

Reported Q4 adj profit of $2.74/share vs est of $2.57/share - data compiled by LSEG

However, EOG reported Q4 net income falling to $1.25 billion from $1.998 billion a year ago, and revenues of $5.59 billion, compared to $5.97 billion a year earlier

"Q1 2025, FY 2025 production and capex guidance were roughly line with expectations, but the pricing, operating cost and cash tax guidance were worse than we expected, driving a lower 2025 free cash flow guidance" - Gabriele Sorbara at Siebert Williams Shank & Co

"Share buyback in Q4 was strong at ~$980 mln, which was well above the $750 mln average over the last 3 quarters and our $750 mln est. However, we noticed EOG is guiding to $4.7 bln of FCF in 2025 based on a $70/bbl, $4.25 bcfd deck - below our $5.3 bln est, which assumes $70/bbl, $3.50 bcfd" - Phillips Johnston at Capital One Securities

Including session's moves, shares were up 2.16% YTD

Meanwhile, Brent prices LCOc1 down 1.2% at $73.12, weighing on oil and gas companies O/R