EOG Resources, Inc. (EOG) to Distribute Quarterly Dividend of $0.91 on July 31st

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Wednesday, July 17th will be paid a dividend of 0.91 per share by the energy exploration company on Wednesday, July 31st. This represents a $3.64 dividend on an annualized basis and a yield of 2.80%.

EOG Resources has raised its dividend by an average of 32.7% annually over the last three years and has increased its dividend every year for the last 7 years. EOG Resources has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect EOG Resources to earn $12.77 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 28.5%.

EOG Resources Price Performance

EOG stock opened at $130.02 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.13 and a current ratio of 2.44. The company’s fifty day moving average price is $127.11 and its 200-day moving average price is $122.60. EOG Resources has a one year low of $106.32 and a one year high of $139.67. The company has a market capitalization of $74.79 billion, a PE ratio of 10.27 and a beta of 1.38.

EOG Resources (NYSE:EOG) last announced its quarterly earnings results on Thursday, May 2nd. The energy exploration company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. EOG Resources had a net margin of 30.33% and a return on equity of 25.11%. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm posted $2.69 EPS. EOG Resources’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that EOG Resources will post 12.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on EOG. Stifel Nicolaus dropped their price objective on shares of EOG Resources from $153.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Scotiabank downgraded shares of EOG Resources from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the company from $135.00 to $155.00 in a report on Thursday, April 11th. TD Cowen increased their price objective on shares of EOG Resources from $130.00 to $144.00 and gave the company a “hold” rating in a report on Tuesday. Bank of America downgraded shares of EOG Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $147.00 to $140.00 in a report on Friday, January 5th. Finally, Morgan Stanley increased their price objective on shares of EOG Resources from $132.00 to $133.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.27.

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.