EOG Resources, Inc. (NYSE:EOG) Announces Dividend Increase – $0.98 Per Share

EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Friday, January 17th will be given 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 yield of 3.08%. This is an increase from EOG Resources’s previous quarterly dividend of $0.91.

EOG Resources has raised its dividend by an average of 32.7% per year over the last three years. EOG Resources has a dividend payout ratio of 32.6% meaning 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

EOG stock opened at $126.46 on Friday. The business’s 50-day moving average is $125.15 and its two-hundred day moving average is $126.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 1.89. The firm has a market capitalization of $71.91 billion, a P/E ratio of 9.77, a P/E/G ratio of 3.24 and a beta of 1.28. EOG Resources has a 1 year low of $108.94 and a 1 year high of $139.67.

Insider Buying and Selling

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

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

Analysts Set New Price Targets

Several research firms have commented on EOG. JPMorgan Chase & Co. lowered their price target on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Truist Financial lowered their target price on shares of EOG Resources from $130.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, September 30th. StockNews.com cut EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. KeyCorp lowered their price objective on EOG Resources from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Wolfe Research initiated coverage on EOG Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Fourteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $141.20.

About EOG Resources

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.