EOG Resources, Inc. (NYSE:EOG) to Issue Dividend Increase - $1.02 Per Share

EOG Resources, Inc. (NYSE:EOG - Get Free Report) declared a quarterly dividend on Monday, June 2nd, Wall Street Journal reports. Investors of record on Friday, October 17th will be paid a dividend of 1.02 per share by the energy exploration company on Friday, October 31st. This represents a $4.08 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, October 17th. This is a 4.6% increase from EOG Resources's previous quarterly dividend of $0.98.

EOG Resources has increased its dividend payment by an average of 23.1% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. EOG Resources has a payout ratio of 37.0% meaning 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 traded up $0.04 during trading on Thursday, hitting $110.81. 153,212 shares of the stock were exchanged, compared to its average volume of 3,267,075. EOG Resources has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a current ratio of 2.31, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $112.16 and a two-hundred day moving average price of $122.74. The company has a market cap of $60.48 billion, a PE ratio of 8.94, a P/E/G ratio of 3.58 and a beta of 0.78.

EOG Resources (NYSE:EOG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy exploration company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.75 by $0.12. EOG Resources had a return on equity of 23.77% and a net margin of 29.18%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.82 earnings per share. The firm's revenue was down 7.4% compared to the same quarter last year. On average, analysts forecast that EOG Resources will post 11.47 EPS for the current year.

Insider Buying and Selling at EOG Resources

In other EOG Resources news, COO Jeffrey R. Leitzell sold 4,037 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $127.76, for a total transaction of $515,767.12. Following the sale, the chief operating officer now directly owns 47,732 shares of the company's stock, valued at $6,098,240.32. The trade was a 7.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EOG shares. Bank of America cut their price target on EOG Resources from $125.00 to $124.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. KeyCorp cut their target price on shares of EOG Resources from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Susquehanna lowered their target price on shares of EOG Resources from $161.00 to $156.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Raymond James upped their price target on shares of EOG Resources from $148.00 to $158.00 and gave the company a "strong-buy" rating in a report on Monday. Finally, Barclays increased their target price on shares of EOG Resources from $137.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $139.58.

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.