EOG Resources, Inc. (NYSE:EOG) Declares $0.98 Quarterly Dividend

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

EOG Resources has raised 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. Research 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 Trading Down 2.8 %

EOG stock traded down $3.62 during midday trading on Friday, reaching $126.99. The company’s stock had a trading volume of 6,868,101 shares, compared to its average volume of 2,925,432. EOG Resources has a 1 year low of $113.83 and a 1 year high of $139.67. The firm 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. The stock has a fifty day simple moving average of $129.14 and a two-hundred day simple moving average of $127.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data 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%. On average, equities research analysts predict that EOG Resources will post 11.47 EPS for the current year.

Wall Street Analyst Weigh In

EOG has been the topic of several recent research reports. Bank of America reiterated a “neutral” rating and set a $144.00 target price (down from $151.00) on shares of EOG Resources in a report on Monday, January 13th. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Monday, January 13th. Mizuho decreased their price target on shares of EOG Resources from $156.00 to $148.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial boosted their price objective on shares of EOG Resources from $135.00 to $137.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.85.

EOG Resources announced that its board has authorized a stock repurchase plan on Thursday, November 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the energy exploration company to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,000 shares of the stock in a transaction that occurred on 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 approximately $5,162,365.67. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

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.