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

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Thursday, October 17th.

EOG Resources has increased its dividend payment 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. 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 Performance

EOG stock traded down $0.19 during trading on Friday, reaching $122.92. 6,668,943 shares of the company’s stock were exchanged, compared to its average volume of 2,636,904. The firm has a market cap of $70.64 billion, a PE ratio of 9.70, a P/E/G ratio of 2.15 and a beta of 1.30. 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 has a 1-year low of $108.94 and a 1-year high of $139.67. The company’s fifty day moving average price is $124.57 and its 200-day moving average price is $123.61.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 1st. The energy exploration company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.18. The business had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.07 billion. EOG Resources had a net margin of 30.33% and a return on equity of 25.65%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.49 earnings per share. On average, research analysts expect that EOG Resources will post 12.13 EPS for the current fiscal year.

Insider Buying and Selling

In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $129.31, for a total value of $611,506.99. Following the completion of the transaction, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other EOG Resources news, CEO Ezra Y. Yacob sold 4,729 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $129.31, for a total value of $611,506.99. Following the sale, the chief executive officer now owns 150,474 shares of the company’s stock, valued at approximately $19,457,792.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Lloyd W. Helms, Jr. sold 1,296 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $130.27, for a total transaction of $168,829.92. Following the transaction, the president now directly owns 161,109 shares of the company’s stock, valued at $20,987,669.43. The disclosure for this sale can be found here. Insiders have sold a total of 16,512 shares of company stock valued at $2,144,972 over the last three months. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EOG has been the subject of several research reports. Barclays started coverage on EOG Resources in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $144.00 target price for the company. Piper Sandler boosted their target price on shares of EOG Resources from $153.00 to $154.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. TD Cowen raised their target price on shares of EOG Resources from $130.00 to $144.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Wolfe Research began coverage on EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho raised their price objective on EOG Resources from $140.00 to $156.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Fifteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $143.20.

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.