EOG Resources, Inc. to Issue 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 increased its dividend every year for the last 7 years. EOG Resources has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of EOG traded up $1.85 during trading hours on Thursday, reaching $131.80. 4,180,244 shares of the stock traded hands, compared to its average volume of 3,363,671. The company has a market cap of $75.81 billion, a P/E ratio of 9.99 and a beta of 1.38. EOG Resources has a 52-week low of $106.32 and a 52-week high of $139.67. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $126.80 and its two-hundred day moving average price is $122.53.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EOG shares. KeyCorp boosted their target price on shares of EOG Resources from $147.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Barclays assumed coverage on shares of EOG Resources in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $144.00 target price for the company. Bank of America cut shares of EOG Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $147.00 to $140.00 in a research note on Friday, January 5th. Citigroup increased their price target on shares of EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Finally, Mizuho lifted their price target on shares of EOG Resources from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Thirteen 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.