EOG Resources, Inc. (NYSE:EOG) Plans 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 a positive change from EOG Resources’s previous quarterly dividend of $0.91.

EOG Resources has increased its dividend payment 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. 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

Shares of NYSE EOG traded down $0.74 during midday trading on Thursday, hitting $126.46. 2,301,292 shares of the stock traded hands, compared to its average volume of 3,130,993. The firm has a 50-day moving average of $125.15 and a two-hundred day moving average of $126.08. The firm has a market capitalization of $71.91 billion, a P/E ratio of 9.77, a PEG ratio of 3.24 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.89 and a current ratio of 2.12. EOG Resources has a one year low of $108.94 and a one year high of $139.67.

Wall Street Analyst Weigh In

EOG has been the topic of several research analyst reports. Wolfe Research assumed coverage on EOG Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Sanford C. Bernstein cut their price target on EOG Resources from $139.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Barclays cut their price objective on EOG Resources from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Finally, StockNews.com downgraded shares of EOG Resources from a “buy” rating to a “hold” rating in a report on Monday, September 16th. 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 MarketBeat.com, EOG Resources presently has a consensus rating of “Hold” and an average target price of $141.20.

Insiders Place Their Bets

In other EOG Resources news, EVP Michael P. Donaldson sold 11,037 shares of EOG Resources 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Michael P. Donaldson sold 11,037 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the completion of the transaction, the executive vice president now directly owns 74,250 shares in the company, valued at $9,615,375. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey R. Leitzell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $126.48, for a total transaction of $505,920.00. Following the sale, the chief operating officer now directly owns 35,058 shares of the company’s stock, valued at $4,434,135.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,537 shares of company stock valued at $2,751,612. 0.20% of the stock is currently owned by insiders.

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.