EOG Resources, Inc. (NYSE:EOG – Get Free Report) declared a quarterly dividend on Tuesday, November 7th, Wall Street Journal reports. Shareholders of record on Wednesday, January 17th will be paid a dividend of 0.91 per share by the energy exploration company on Wednesday, January 31st. This represents a $3.64 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Tuesday, January 16th. This is an increase from EOG Resources’s previous quarterly dividend of $0.83.
EOG Resources has raised its dividend payment by an average of 43.5% annually over the last three years and has raised its dividend every year for the last 6 years. EOG Resources has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect EOG Resources to earn $13.38 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 24.7%.
EOG Resources Stock Performance
NYSE:EOG opened at $124.59 on Tuesday. The stock’s 50-day moving average is $128.80 and its 200-day moving average is $122.03. EOG Resources has a 1-year low of $98.52 and a 1-year high of $150.05. The company has a current ratio of 2.43, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $72.54 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 0.39 and a beta of 1.51.
Insider Transactions at EOG Resources
Institutional Investors Weigh In On EOG Resources
Hedge funds and other institutional investors have recently modified their holdings of the company. Fortis Capital Advisors LLC bought a new position in shares of EOG Resources in the 4th quarter worth $28,000. Lumature Wealth Partners LLC acquired a new position in shares of EOG Resources during the first quarter valued at about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of EOG Resources by 1,436.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 292 shares of the energy exploration company’s stock worth $34,000 after acquiring an additional 273 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of EOG Resources in the 2nd quarter worth about $33,000. Finally, Highlander Capital Management LLC bought a new position in EOG Resources in the 4th quarter valued at about $65,000. Institutional investors own 89.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on EOG shares. Susquehanna decreased their price target on shares of EOG Resources from $165.00 to $164.00 and set a “positive” rating for the company in a research report on Wednesday, October 18th. JPMorgan Chase & Co. increased their price objective on EOG Resources from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Wednesday, September 27th. Citigroup downgraded EOG Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $144.00 to $135.00 in a report on Monday, October 23rd. Mizuho upped their price target on EOG Resources from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Tudor, Pickering, Holt & Co. downgraded EOG Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $149.54.
EOG Resources Company Profile
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. The company was formerly known as Enron Oil & Gas Company.
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