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

Key Points

• EOG announced a quarterly dividend of $1.02 per share (record date July 17, payable July 31), implying a ~3.0% yield and $4.08 annualized; the company has raised its dividend 8 consecutive years and carries a payout ratio around 38.7%, indicating coverage by earnings.
• Q1 results beat expectations: EOG reported $3.41 EPS versus $3.23 expected and revenue of $6.92B (vs. $6.18B), a 22.1% year‑over‑year increase, and analysts project roughly $14.75 EPS for the fiscal year.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and an average target price of $153.68, following several recent price-target upgrades from brokerages.

EOG Resources, Inc. (NYSE:EOG - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, July 17th will be given a dividend of 1.02 per share by the energy exploration company on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, July 17th.

EOG Resources has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. EOG Resources has a dividend payout ratio of 38.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect EOG Resources to earn $13.07 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 31.2%.

EOG Resources Stock Down 2.7%

Shares of NYSE EOG opened at $137.04 on Wednesday. The stock has a market cap of $73.41 billion, a P/E ratio of 15.01, a PEG ratio of 1.76 and a beta of 0.27. The business's fifty day simple moving average is $135.28 and its 200-day simple moving average is $117.95. EOG Resources has a 12-month low of $101.59 and a 12-month high of $151.87. The company has a current ratio of 1.63, a quick ratio of 1.42 and a debt-to-equity ratio of 0.27.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy exploration company reported $3.41 EPS for the quarter, topping the consensus estimate of $3.23 by $0.18. EOG Resources had a return on equity of 18.67% and a net margin of 22.00%.The firm had revenue of $6.92 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period in the previous year, the firm posted $2.87 EPS. EOG Resources's revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts predict that EOG Resources will post 14.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on EOG. Scotiabank boosted their price objective on EOG Resources from $123.00 to $139.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Piper Sandler raised their target price on shares of EOG Resources from $144.00 to $147.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Raymond James Financial boosted their price target on shares of EOG Resources from $157.00 to $185.00 and gave the stock a "strong-buy" rating in a report on Friday, March 27th. Zacks Research raised shares of EOG Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Finally, Sanford C. Bernstein raised their price objective on shares of EOG Resources from $126.00 to $167.00 and gave the company a "market perform" rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat.com, EOG Resources currently has an average rating of "Moderate Buy" and an average target price of $153.68.

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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