EOG Resources (NYSE:EOG) announced a quarterly dividend on Wednesday, April 25th, RTT News reports. Investors of record on Saturday, July 7th will be given a dividend of 0.185 per share by the energy exploration company on Tuesday, July 31st. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.64%.
EOG Resources has raised its dividend payment by an average of 9.4% per year over the last three years. EOG Resources has a payout ratio of 75.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect EOG Resources to earn $5.25 per share next year, which means the company should continue to be able to cover its $0.67 annual dividend with an expected future payout ratio of 12.8%.
Shares of EOG Resources stock traded up $0.81 during trading on Wednesday, reaching $115.40. The company’s stock had a trading volume of 2,792,799 shares, compared to its average volume of 3,674,583. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 1.03. EOG Resources has a 12-month low of $81.99 and a 12-month high of $119.00. The company has a market cap of $66,450.60, a PE ratio of 102.87, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05.
Several equities analysts recently issued reports on EOG shares. Zacks Investment Research raised EOG Resources from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Monday, January 15th. Credit Suisse Group set a $126.00 price objective on EOG Resources and gave the stock a “hold” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Citigroup raised EOG Resources from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, January 3rd. Robert W. Baird set a $122.00 price objective on EOG Resources and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, Argus lifted their price objective on EOG Resources to $133.00 and gave the stock a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $119.67.
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About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.
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