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

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, October 17th will be paid a dividend of 0.91 per share by the energy exploration company on Thursday, October 31st. This represents a $3.64 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, October 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 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect EOG Resources to earn $12.84 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 28.3%.

EOG Resources Stock Down 0.2 %

NYSE:EOG traded down $0.19 during trading hours on Friday, hitting $122.92. 6,668,943 shares of the company traded hands, compared to its average volume of 2,636,904. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a market cap of $70.64 billion, a PE ratio of 9.70, a PEG ratio of 2.15 and a beta of 1.30. The firm’s 50-day simple moving average is $124.57 and its 200-day simple moving average is $123.61. The company has a quick ratio of 2.05, a current ratio of 2.32 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last announced its earnings results on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.18. EOG Resources had a return on equity of 25.65% and a net margin of 30.33%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period last year, the firm posted $2.49 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that EOG Resources will post 12.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EOG shares. Truist Financial decreased their target price on EOG Resources from $136.00 to $130.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Scotiabank lowered their price objective on EOG Resources from $155.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Citigroup boosted their price objective on EOG Resources from $124.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Benchmark restated a “hold” rating on shares of EOG Resources in a research note on Tuesday, May 7th. Finally, StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Fifteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and an average target price of $143.20.

Insiders Place Their Bets

In other EOG Resources news, President Lloyd W. Helms, Jr. sold 1,296 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Jeffrey R. Leitzell sold 7,802 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $130.07, for a total transaction of $1,014,806.14. Following the completion of the sale, the chief operating officer now owns 39,054 shares of the company’s stock, valued at $5,079,753.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were 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 approximately $20,987,669.43. The disclosure for this sale can be found here. Insiders sold a total of 16,512 shares of company stock valued at $2,144,972 over the last quarter. 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.