EOG Resources, Inc. (EOG) to Issue Quarterly Dividend of $0.98 on April 30th

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders 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 yield of 3.07%. The ex-dividend date is Wednesday, April 16th.

EOG Resources has increased its dividend payment 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. Equities 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 opened at $126.99 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $129.30 and its two-hundred day moving average is $127.89. EOG Resources has a 12-month low of $113.83 and a 12-month high of $139.67. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 3.58 and a beta of 1.27.

EOG Resources (NYSE:EOG) last released its earnings results on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.19. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. Research analysts expect that EOG Resources will post 11.47 EPS for the current year.

EOG Resources announced that its board has authorized a share repurchase program 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Raymond James raised their price target on EOG Resources from $167.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Barclays dropped their price target on EOG Resources from $148.00 to $146.00 and set an “equal weight” rating for the company in a research report on Friday. Wells Fargo & Company raised EOG Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $147.00 to $150.00 in a research report on Tuesday, December 17th. StockNews.com downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Piper Sandler raised their price target on EOG Resources from $140.00 to $141.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.30.

Insider Activity at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,162,365.67. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by 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.