EOG Resources stock gets dividend lift after record third quarter

EOG Resources reported record oil, natural gas liquids and natural gas production for the third quarter on November 5, alongside stronger earnings and a higher regular dividend. The company's release, carried by PRNewswire, said EOG generated 2.176 billion US dollars in free cash flow during the three months ended September 30.

The real-time quote of EOG Resources stock was 130.23 euros on Lang & Schwarz at 14:05 CET on Monday, November 9, 2026.

Production and cash flow set records

GAAP net income reached 2.781 billion US dollars, or 5.33 US dollars per diluted share, compared with 1.471 billion US dollars, or 2.70 US dollars per share, in the third quarter of 2025. Adjusted net income was 2.540 billion US dollars, or 4.87 US dollars per share, compared with 1.472 billion US dollars, or 2.71 US dollars per share, a year earlier.

Revenue rose to 8.549 billion US dollars from 5.847 billion US dollars in the prior-year quarter. Net cash provided by operating activities totaled 3.813 billion US dollars. EOG also reported 1.597 billion US dollars of capital expenditures and 10.49 US dollars per barrel of oil equivalent in GAAP cash operating costs.

Total crude oil equivalent production reached 1,433.1 thousand barrels of oil equivalent per day, compared with 1,301.2 thousand in the third quarter of 2025. Crude oil and condensate output was 550.4 thousand barrels per day, natural gas liquids production was 357.1 thousand barrels per day, and natural gas production was 3,153 million cubic feet per day. Each production stream exceeded the company's third-quarter guidance midpoint.

Dividend and capital returns expand

EOG's board declared a regular quarterly dividend of 1.10 US dollars per share, an 8 percent increase. The payment is scheduled for January 29, 2027, for shareholders of record on January 15, 2027, implying an annual regular dividend rate of 4.40 US dollars per share.

The company paid 544 million US dollars in regular dividends and repurchased 7.0 million shares for 1.0 billion US dollars during the quarter. EOG said 10.6 billion US dollars remained under its current repurchase authorization at September 30. The company has paid a regular dividend for 28 consecutive years, according to chief executive Ezra Yacob's statement in the release.

Management also highlighted a new long-term gas sales agreement linked to Japan-Korea Marker pricing. The agreement is expected to lift EOG's premium-priced LNG feedgas exposure above 1 billion cubic feet per day by 2030. EOG additionally approved an expansion of its Janus gas processing plant in the Delaware Basin.

Guidance keeps investment focus

For the fourth quarter, EOG projects total crude oil equivalent production between 1,385.5 thousand and 1,432.0 thousand barrels per day, with a midpoint of 1,408.8 thousand. Full-year 2026 guidance spans 1,393.2 thousand to 1,425.0 thousand barrels per day, with a midpoint of 1,409.2 thousand. Capital expenditure guidance remains between 6.3 billion and 6.7 billion US dollars, with a midpoint of 6.5 billion.

The combination of record volumes, lower-than-guidance unit costs and substantial free cash flow supports EOG's increased regular dividend while leaving capital spending discipline central to the investment case. The announced gas infrastructure expansion adds a longer-term growth element, but future cash generation remains sensitive to commodity prices and operating execution.

The broader S&P 500 market environment remains relevant for the valuation of US energy shares.

More news and analyses on EOG Resources stock will track the next production update, capital allocation decisions and the January dividend payment.