EOG Resources, Inc. (EOG) to Issue Quarterly Dividend of $0.98 on January 31st

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders of record on Friday, January 17th will be paid a dividend of 0.975 per share by the energy exploration company on Friday, January 31st. This represents a $3.90 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from EOG Resources’s previous quarterly dividend of $0.91.

EOG Resources has raised its dividend payment by an average of 32.7% annually over the last three years. EOG Resources has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect EOG Resources to earn $11.40 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 31.9%.

EOG Resources Price Performance

Shares of EOG Resources stock opened at $134.19 on Friday. The stock has a market cap of $76.30 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. The stock has a 50 day moving average price of $125.19 and a 200-day moving average price of $126.08. EOG Resources has a one year low of $108.94 and a one year high of $139.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12.

Insider Transactions at EOG Resources

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $129.50, for a total value of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EOG Resources news, Director Charles R. Crisp sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $125.60, for a total transaction of $816,400.00. Following the transaction, the director now owns 60,892 shares in the company, valued at approximately $7,648,035.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

EOG Resources declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on EOG. JPMorgan Chase & Co. decreased their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Scotiabank dropped their price target on shares of EOG Resources from $150.00 to $140.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Truist Financial lowered their target price on EOG Resources from $130.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Piper Sandler decreased their target price on shares of EOG Resources from $154.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Wolfe Research started coverage on shares of EOG Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average target price of $141.20.

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.