EOG Resources, Inc. (NYSE:EOG) to Issue $0.91 Quarterly Dividend

EOG Resources, Inc. (NYSE:EOG - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Wednesday, July 17th will be paid a dividend of 0.91 per share by the energy exploration company on Wednesday, July 31st. This represents a $3.64 annualized dividend and a yield of 2.76%.

EOG Resources has raised its dividend by an average of 32.7% annually over the last three years and has increased its dividend every year for the last 7 years. EOG Resources has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect EOG Resources to earn $12.91 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 28.2%.

EOG Resources Stock Up 1.4 %

NYSE:EOG traded up $1.85 during trading hours on Thursday, hitting $131.80. 4,179,375 shares of the company traded hands, compared to its average volume of 3,363,686. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The company has a market cap of $75.81 billion, a PE ratio of 10.13 and a beta of 1.38. The firm's 50-day simple moving average is $127.11 and its 200-day simple moving average is $122.60. The company has a quick ratio of 2.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.13.

EOG Resources (NYSE:EOG - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.07). EOG Resources had a return on equity of 25.38% and a net margin of 31.40%. The firm had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $6.18 billion. During the same period last year, the business posted $3.30 EPS. The company's revenue was down 5.4% compared to the same quarter last year. Equities analysts predict that EOG Resources will post 12.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

EOG has been the subject of a number of recent analyst reports. StockNews.com raised EOG Resources from a "hold" rating to a "buy" rating in a report on Wednesday. Scotiabank downgraded EOG Resources from a "sector outperform" rating to a "sector perform" rating and lifted their price target for the company from $135.00 to $155.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on EOG Resources from $134.00 to $141.00 and gave the company a "neutral" rating in a research report on Thursday, March 28th. Piper Sandler lifted their price target on EOG Resources from $141.00 to $153.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, TD Securities dropped their price target on EOG Resources from $135.00 to $130.00 and set a "hold" rating for the company in a research report on Friday, February 23rd. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $142.27.

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.