EOG Resources, Inc. (EOG) to Issue Quarterly Dividend of $0.17
EOG Resources, Inc. (NYSE:EOG) declared a quarterly dividend on Wednesday, December 13th, RTT News reports. Investors of record on Wednesday, January 17th will be paid a dividend of 0.1675 per share by the energy exploration company on Wednesday, January 31st. This represents a $0.67 annualized dividend and a dividend yield of 0.67%.
EOG Resources has increased its dividend payment by an average of 22.3% per year over the last three years. EOG Resources has a payout ratio of 79.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect EOG Resources to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.67 annual dividend with an expected future payout ratio of 30.9%.
Shares of EOG Resources (NYSE:EOG) traded down $0.34 during trading on Wednesday, hitting $99.94. The company had a trading volume of 1,426,884 shares, compared to its average volume of 3,069,892. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.27 and a quick ratio of 1.11. EOG Resources has a 1 year low of $81.99 and a 1 year high of $107.95. The firm has a market cap of $58,521.56, a P/E ratio of 246.85, a P/E/G ratio of 13.35 and a beta of 0.98.
Several brokerages recently issued reports on EOG. Imperial Capital began coverage on EOG Resources in a research report on Thursday, September 28th. They set an “outperform” rating and a $115.00 price objective for the company. Morgan Stanley raised shares of EOG Resources from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $97.00 to $106.00 in a research note on Tuesday, September 12th. Barclays lifted their target price on shares of EOG Resources from $117.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. Robert W. Baird set a $114.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, BMO Capital Markets set a $105.00 target price on shares of EOG Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company. EOG Resources presently has an average rating of “Buy” and an average target price of $109.83.
In other news, Director Charles R. Crisp sold 3,411 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $97.03, for a total transaction of $330,969.33. Following the completion of the sale, the director now directly owns 53,196 shares of the company’s stock, valued at approximately $5,161,607.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David W. Trice sold 3,114 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $106.65, for a total transaction of $332,108.10. Following the sale, the executive vice president now directly owns 80,415 shares of the company’s stock, valued at $8,576,259.75. The disclosure for this sale can be found here. Insiders have sold a total of 153,692 shares of company stock valued at $3,717,390 over the last three months. Corporate insiders own 0.53% of the company’s stock.
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About EOG Resources
EOG Resources, Inc explores for, develops, produces and markets crude oil and natural gas in major producing basins in the United States, The Republic of Trinidad and Tobago, the United Kingdom, The People’s Republic of China, Canada and, from time to time, select other international areas. Its operations are all crude oil and natural gas exploration and production related.
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