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

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Tuesday, February 24th. Investors of record on Thursday, April 16th will be paid a dividend of 1.02 per share by the energy exploration company on Thursday, April 30th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, April 16th.

EOG Resources has increased its dividend by an average of 0.3%annually over the last three years and has raised 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. Research analysts expect EOG Resources to earn $11.54 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 35.4%.

EOG Resources Stock Down 0.3%

NYSE:EOG traded down $0.36 on Wednesday, hitting $123.34. 4,414,927 shares of the company’s stock traded hands, compared to its average volume of 4,935,604. The company has a market cap of $66.92 billion, a PE ratio of 12.29 and a beta of 0.49. EOG Resources has a 1 year low of $101.59 and a 1 year high of $132.09. The company has a current ratio of 1.62, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $110.04 and a 200-day moving average price of $111.60.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Tuesday, February 24th. The energy exploration company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.36 billion. EOG Resources had a net margin of 24.49% and a return on equity of 19.80%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 earnings per share. Equities analysts anticipate that EOG Resources will post 11.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EOG. Johnson Rice dropped their price target on shares of EOG Resources from $145.00 to $135.00 and set a “hold” rating on the stock in a research note on Friday, December 5th. Citigroup reaffirmed a “neutral” rating and issued a $115.00 target price (down from $125.00) on shares of EOG Resources in a research report on Wednesday, December 17th. Piper Sandler set a $123.00 price objective on EOG Resources and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Jefferies Financial Group set a $140.00 target price on shares of EOG Resources in a research report on Wednesday, January 14th. Finally, Capital One Financial reduced their price objective on shares of EOG Resources from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.37.

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.