EOG Resources, Inc. (NYSE:EOG) to Issue Dividend Increase – $0.98 Per Share

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.975 per share by the energy exploration company on Friday, January 31st. This represents a $3.90 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from EOG Resources’s previous quarterly dividend of $0.91.

EOG Resources has raised its dividend by an average of 31.2% annually over the last three years. EOG Resources has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EOG Resources to earn $11.20 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 34.8%.

EOG Resources Stock Performance

Shares of NYSE EOG opened at $135.91 on Wednesday. The stock has a market cap of $76.44 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.29. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67. The firm has a fifty day moving average price of $128.48 and a 200-day moving average price of $126.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.07.

EOG Resources declared that its board has authorized a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of EOG Resources from $149.00 to $140.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. StockNews.com raised EOG Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 price objective on shares of EOG Resources in a research report on Monday, January 6th. Raymond James increased their price target on EOG Resources from $156.00 to $167.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $147.00 to $150.00 in a report on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $143.48.

Insider Activity

In other news, Director Janet F. Clark sold 568 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the completion of the transaction, the director now directly owns 43,532 shares in the company, valued at $5,891,185.56. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $120.89, for a total value of $483,560.00. Following the completion of the sale, the chief operating officer now owns 42,703 shares in the company, valued at $5,162,365.67. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

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.