EOG Resources, Inc. (EOG) to Issue Quarterly Dividend of $0.91 on April 30th

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, February 22nd, RTT News reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 0.91 per share by the energy exploration company on Tuesday, April 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, April 15th.

EOG Resources has increased its dividend payment by an average of 32.7% per year over the last three years and has raised its dividend every year for the last 7 years. EOG Resources has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect EOG Resources to earn $12.88 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 28.3%.

EOG Resources Stock Performance

Shares of EOG opened at $135.33 on Friday. The company has a market cap of $77.84 billion, a PE ratio of 10.40 and a beta of 1.40. The company has a current ratio of 2.44, a quick ratio of 2.13 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $121.36 and a 200-day moving average price of $121.87. EOG Resources has a 12-month low of $106.32 and a 12-month high of $139.67.

EOG Resources (NYSE:EOG) last announced its quarterly earnings data on Friday, February 23rd. The energy exploration company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.18 billion. EOG Resources had a net margin of 31.40% and a return on equity of 25.38%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 earnings per share. As a group, equities analysts forecast that EOG Resources will post 11.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EOG Resources

Hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. boosted its holdings in EOG Resources by 237.7% in the first quarter. Zions Bancorporation N.A. now owns 1,155 shares of the energy exploration company’s stock worth $138,000 after acquiring an additional 813 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in EOG Resources in the first quarter worth $124,000. Clearstead Advisors LLC boosted its holdings in EOG Resources by 92.1% in the third quarter. Clearstead Advisors LLC now owns 1,039 shares of the energy exploration company’s stock worth $116,000 after acquiring an additional 498 shares in the last quarter. Tejara Capital Ltd bought a new stake in EOG Resources in the fourth quarter worth $106,000. Finally, Westside Investment Management Inc. lifted its holdings in shares of EOG Resources by 316.7% during the first quarter. Westside Investment Management Inc. now owns 921 shares of the energy exploration company’s stock valued at $106,000 after purchasing an additional 700 shares in the last quarter. 89.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EOG has been the topic of a number of research reports. Susquehanna decreased their price objective on EOG Resources from $164.00 to $147.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Barclays initiated coverage on EOG Resources in a report on Wednesday. They set an “equal weight” rating and a $144.00 price objective on the stock. Morgan Stanley raised their price objective on EOG Resources from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on EOG Resources from $134.00 to $141.00 and gave the company a “neutral” rating in a report on Thursday, March 28th. Finally, Citigroup raised their price objective on EOG Resources from $120.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.76.

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.