EOG Resources, Inc. (NYSE:EOG) Plans Quarterly Dividend of $0.98

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be given a dividend of 0.975 per share by the energy exploration company on Wednesday, April 30th. This represents a $3.90 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 16th.

EOG Resources has raised its dividend by an average of 23.1% annually over the last three years. EOG Resources has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Analysts expect EOG Resources to earn $11.54 per share next year, which means the company should continue to be able to cover its $3.90 annual dividend with an expected future payout ratio of 33.8%.

EOG Resources Stock Performance

NYSE EOG traded down $3.62 during trading hours on Friday, hitting $126.99. The company’s stock had a trading volume of 6,868,101 shares, compared to its average volume of 2,925,432. EOG Resources has a 12 month low of $113.83 and a 12 month high of $139.67. The company’s 50 day simple moving average is $129.14 and its two-hundred day simple moving average is $127.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07. The company has a market cap of $71.43 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Friday, February 28th. The energy exploration company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.19. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. As a group, sell-side analysts expect that EOG Resources will post 11.47 EPS for the current fiscal year.

Insider Activity

In other news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $120.89, for a total transaction of $483,560.00. Following the transaction, the chief operating officer now owns 42,703 shares of the company’s stock, valued at approximately $5,162,365.67. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

EOG Resources declared that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on EOG. Royal Bank of Canada raised shares of EOG Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $150.00 to $155.00 in a research report on Wednesday, February 12th. Piper Sandler upped their target price on shares of EOG Resources from $140.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Citigroup lifted their price target on shares of EOG Resources from $127.00 to $134.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark reiterated a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.85.

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.