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

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be paid 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 dividend yield of 3.59%. 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 33.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:EOG opened at $108.62 on Monday. The company has a market cap of $59.91 billion, a PE ratio of 8.75, a P/E/G ratio of 3.58 and a beta of 0.93. The firm has a 50-day simple moving average of $124.28 and a 200 day simple moving average of $127.02. EOG Resources has a fifty-two week low of $102.52 and a fifty-two week high of $138.18. The company has a quick ratio of 2.07, a current ratio of 2.31 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Friday, February 28th. The energy exploration company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.19. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.96 billion. EOG Resources had a net margin of 29.18% and a return on equity of 23.77%. On average, sell-side analysts anticipate that EOG Resources will post 11.47 EPS for the current year.

Insider Transactions at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the completion of the transaction, the chief operating officer now owns 47,732 shares in the company, valued at $6,098,240.32. This trade represents a 7.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on EOG Resources from $149.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Raymond James raised their price objective on shares of EOG Resources from $167.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Barclays lowered their price objective on shares of EOG Resources from $146.00 to $144.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Scotiabank raised shares of EOG Resources from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $150.00 to $130.00 in a research note on Friday. Finally, Citigroup reduced their price target on EOG Resources from $134.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, EOG Resources currently has an average rating of “Moderate Buy” and a consensus price target of $144.19.

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.