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

EOG Resources, Inc. (NYSE:EOG) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 3.08%. This is a boost from EOG Resources’s previous quarterly dividend of $0.91.

EOG Resources has increased its dividend payment by an average of 32.7% annually over the last three years. EOG Resources has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE:EOG opened at $126.46 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.89 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $71.91 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 3.24 and a beta of 1.28. The firm has a 50-day moving average price of $125.15 and a two-hundred day moving average price of $126.08. EOG Resources has a twelve month low of $108.94 and a twelve month high of $139.67.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EOG. Evercore ISI cut their price objective on EOG Resources from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Susquehanna reduced their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. StockNews.com lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their target price on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company decreased their price target on shares of EOG Resources from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.20.

EOG Resources declared that its Board of Directors has authorized a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to purchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at EOG Resources

In other news, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction 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 of the company’s stock, valued at $7,648,035.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s 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 of the company’s stock, valued at approximately $9,615,375. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction 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 $7,648,035.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.