EOG Resources, Inc. (NYSE:EOG) to Issue $0.91 Quarterly Dividend

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Wednesday, July 17th will be given a dividend of 0.91 per share by the energy exploration company on Wednesday, July 31st. This represents a $3.64 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, July 17th.

EOG Resources has raised its dividend by an average of 32.7% annually over the last three years. EOG Resources has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EOG Resources to earn $12.69 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 28.7%.

EOG Resources Stock Performance

Shares of EOG opened at $132.65 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $124.93 and a 200-day moving average price of $122.85. The company has a market cap of $76.24 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. EOG Resources has a 12-month low of $108.94 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.12. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.91 billion. EOG Resources had a net margin of 30.33% and a return on equity of 24.83%. EOG Resources’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.69 earnings per share. As a group, equities analysts forecast that EOG Resources will post 12.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EOG. Bank of America reissued a “buy” rating and issued a $151.00 target price on shares of EOG Resources in a research note on Friday, June 14th. Stifel Nicolaus cut their target price on EOG Resources from $153.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Citigroup lifted their price target on shares of EOG Resources from $124.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. Truist Financial lowered shares of EOG Resources from a “buy” rating to a “hold” rating and reduced their target price for the company from $163.00 to $136.00 in a report on Thursday, May 16th. Finally, Morgan Stanley upped their price target on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $144.55.

Insiders Place Their Bets

In related news, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $130.27, for a total value of $168,829.92. Following the completion of the transaction, the president now directly owns 161,109 shares in the company, valued at approximately $20,987,669.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $130.27, for a total value of $168,829.92. Following the sale, the president now directly owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ezra Y. Yacob sold 4,729 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the transaction, the chief executive officer now owns 150,474 shares of the company’s stock, valued at $19,457,792.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,512 shares of company stock worth $2,144,972. 0.30% of the stock is owned by corporate insiders.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.