EOG Resources Shares Fall After Earnings Miss, Capex Cut

EOG Resources Inc. shares fell after the oil and gas exploration and production company posted earnings that fell short of the Wall Street view and cut its capital spending plan. EOG shares dropped 7.4% to $88.30 on moderate volume. The company reported adjusted fourth-quarter earnings of 79 cents a share on revenue of $4.65 billion. Analysts surveyed by FactSet expected $1 a share on revenue of $4.31 billion. EOG also reduced its capital spending plan for 2015 and sees expenditures of $4.9 billion to $5.1 billion.