EOG Resources, Inc. (NYSE:EOG) Increases Dividend to $1.10 Per Share

Key Points

• EOG Resources raised its quarterly dividend 7.8% to $1.10 per share, or $4.40 annualized, for a reported 3.0% yield. The dividend is payable January 29 to shareholders of record January 15.
• Third-quarter results topped estimates: earnings were $4.87 per share versus $4.45 expected, while revenue of $8.55 billion beat the $7.26 billion consensus and grew 46.2% year over year.
• EOG has raised its dividend for eight consecutive years, and its reported 38.7% payout ratio indicates the dividend is covered by earnings.

EOG Resources, Inc. (NYSE:EOG - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Friday, January 15th will be paid a dividend of $1.10 per share by the energy exploration company on Friday, January 29th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, January 15th. This is a 7.8% increase from EOG Resources's previous quarterly dividend of $1.02.

EOG Resources has increased its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. EOG Resources has a payout ratio of 38.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect EOG Resources to earn $15.62 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 26.1%.

EOG Resources Price Performance

EOG stock opened at $144.83 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. EOG Resources has a 52 week low of $101.59 and a 52 week high of $165.93. The firm's fifty day moving average is $149.25 and its 200 day moving average is $137.62. The firm has a market cap of $75.97 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.52 and a beta of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last issued its earnings results on Thursday, November 5th. The energy exploration company reported $4.87 EPS for the quarter, topping analysts' consensus estimates of $4.45 by $0.42. The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $7.26 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The firm's revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. Research analysts predict that EOG Resources will post 17.70 earnings per share for the current year.

Key Stories Impacting EOG Resources

Here are the key news stories impacting EOG Resources this week:

• Positive Sentiment: Third-quarter earnings were $4.87 per share, above the $4.45 consensus estimate and up from $2.71 a year earlier. Revenue reached $8.55 billion, beating the $7.26 billion estimate and rising 46.2% year over year. The earnings and revenue beats may support investor sentiment. EOG Resources Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: EOG increased its quarterly dividend 7.8%, from $1.02 to $1.10 per share. That equates to $4.40 annually and a reported 3.0% yield; the dividend is payable January 29 to shareholders of record January 15. The increase adds to shareholder returns. EOG Reports Third Quarter Results and Raises Dividend

About EOG Resources

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company's principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

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