EOG Resources, Inc. (NYSE:EOG) Announces Quarterly Dividend of $1.02

Key Points

• EOG Resources declared a quarterly dividend of $1.02 per share, payable October 30 to shareholders of record October 16. The dividend implies $4.08 in annual payments and a 2.8% yield.
• The dividend appears well covered, with a 38.7% payout ratio and a projected future payout ratio of 29.7%; EOG has increased its dividend for eight consecutive years.
• EOG reported quarterly EPS of $5.07, exceeding estimates of $4.97, while revenue rose 57.4% year over year to $8.62 billion. Analysts give the stock a consensus “Moderate Buy” rating with an average price target of $155.57.

EOG Resources, Inc. (NYSE:EOG - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, October 16th will be given a dividend of 1.02 per share by the energy exploration company on Friday, October 30th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 16th.

EOG Resources has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 8 years. EOG Resources has a dividend payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect EOG Resources to earn $13.75 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 29.7%.

EOG Resources Stock Down 1.5%

EOG Resources stock opened at $143.49 on Wednesday. The firm has a market capitalization of $76.43 billion, a price-to-earnings ratio of 14.12 and a beta of 0.25. The firm's fifty day moving average price is $137.17 and its two-hundred day moving average price is $131.95. EOG Resources has a 1-year low of $101.59 and a 1-year high of $151.87. The company has a current ratio of 1.72, a quick ratio of 1.53 and a debt-to-equity ratio of 0.26.

EOG Resources (NYSE:EOG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.10. EOG Resources had a net margin of 23.01% and a return on equity of 19.25%. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter in the prior year, the business posted $2.32 EPS. The firm's revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts predict that EOG Resources will post 16.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EOG. Truist Financial decreased their price objective on EOG Resources from $149.00 to $134.00 and set a "hold" rating for the company in a report on Wednesday, July 1st. Roth Capital reiterated a "neutral" rating and set a $136.00 price target on shares of EOG Resources in a report on Wednesday, May 6th. Wells Fargo & Company set a $196.00 price target on EOG Resources and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Barclays raised their price target on shares of EOG Resources from $140.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Finally, Williams Trading set a $177.00 price objective on EOG Resources in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and sixteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.57.

EOG Resources Company Profile

EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

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