EOG Resources, Inc. Announces Quarterly Dividend of $0.91 (NYSE:EOG)

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 dividend on an annualized basis and a dividend yield of 2.76%.

EOG Resources has raised its dividend payment by an average of 32.7% per year over the last three years and has raised its dividend every year for the last 7 years. EOG Resources has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect EOG Resources to earn $12.91 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 28.2%.

EOG Resources Price Performance

EOG traded up $1.85 during trading hours on Thursday, hitting $131.80. The company’s stock had a trading volume of 4,180,244 shares, compared to its average volume of 3,363,671. The business’s 50-day moving average price is $126.80 and its 200-day moving average price is $122.53. EOG Resources has a 12 month low of $106.32 and a 12 month high of $139.67. The stock has a market cap of $75.81 billion, a price-to-earnings ratio of 9.99 and a beta of 1.38. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its earnings results on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The firm had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the prior year, the company posted $3.30 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts expect that EOG Resources will post 12.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on EOG. Citigroup raised their price target on shares of EOG Resources from $120.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. StockNews.com raised shares of EOG Resources from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $147.00 to $140.00 in a research note on Friday, January 5th. Piper Sandler raised their price target on shares of EOG Resources from $141.00 to $153.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Truist Financial lowered their target price on shares of EOG Resources from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $142.27.

About EOG Resources

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.