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In a recent 8K filing, EOG Resources, Inc. (NYSE:EOG), a $60.67 billion energy company with a "GOOD" financial health rating according to InvestingPro, reported the outcomes of their 2025 Annual Meeting of Stockholders held on Tuesday, May 21, 2025. The meeting, conducted via live webcast, covered several key items, including the election of directors, ratification of auditors, and an advisory vote on executive compensation.
All eight director nominees were elected to serve until the 2026 annual meeting, with an overwhelming majority of shareholder votes in favor. The elected directors, including Janet F. Clark and Ezra Y. Yacob, received between 94.99% and 97.15% of the votes cast, indicating strong shareholder support.
Shareholders also ratified the appointment of Deloitte & Touche LLP as EOG’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This decision was met with approval from 97.22% of the votes cast.
Additionally, the non-binding advisory vote on the compensation of EOG’s named executive officers, a "say-on-pay" vote, was approved with 96.65% of the votes in favor. This reflects shareholder satisfaction with the company’s executive compensation policies. The strong approval aligns with EOG’s track record of maintaining dividend payments for 36 consecutive years, currently offering a 3.54% yield.
The meeting had a significant turnout, with 551,544,404 shares of EOG common stock entitled to vote. The filing indicated that proxies for the meeting were solicited pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended.
The report, filed on May 27, 2025, underscores EOG’s compliance with the Securities Exchange Act of 1934 and showcases the company’s commitment to transparency and shareholder engagement. Trading at a P/E ratio of 10.24, EOG appears undervalued according to InvestingPro analysis, which offers comprehensive insights through its Pro Research Report, available along with 7 additional ProTips and extensive financial metrics for subscribers. The filing was signed on behalf of the registrant by Ann D. Janssen, Executive Vice President and Chief Financial Officer of EOG Resources, Inc.
In other recent news, EOG Resources reported a mixed financial performance for the first quarter of 2025. The company exceeded earnings per share (EPS) expectations with $2.87, surpassing the projected $2.71, but fell short on revenue, reporting $5.67 billion against an anticipated $5.91 billion. EOG Resources has also announced a reduction in its 2025 capital investment by $200 million, aiming to optimize future cash flow. In a strategic move, EOG Resources secured an oil exploration concession for Unconventional Onshore Block 3 in Abu Dhabi, expanding its international footprint. The company plans to begin drilling activities in the latter half of 2025. Additionally, Raymond (NSE:RYMD) James raised the price target for EOG Resources to $148, maintaining a Strong Buy rating, citing improved commodity price trends. EOG Resources has adjusted its drilling plans, reducing net well completions in key areas like the Delaware Basin and Eagle Ford. These developments reflect the company’s ongoing efforts to align its operations with market conditions and strategic goals.
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