EOG Resources Inc (NYSE:EOG) announced a quarterly dividend on Thursday, May 7th, RTT News reports. Shareholders of record on Friday, July 17th will be paid a dividend of 0.375 per share by the energy exploration company on Friday, July 31st. This represents a $1.50 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, July 16th.
EOG Resources has increased its dividend payment by an average of 3,283.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. EOG Resources has a dividend payout ratio of 454.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect EOG Resources to earn $0.79 per share next year, which means the company may not be able to cover its $1.50 annual dividend with an expected future payout ratio of 189.9%.
NYSE:EOG opened at $44.95 on Tuesday. The company has a market cap of $26.42 billion, a P/E ratio of 12.35, a P/E/G ratio of 21.81 and a beta of 1.98. EOG Resources has a twelve month low of $27.00 and a twelve month high of $91.36. The company’s 50-day moving average price is $51.89 and its 200-day moving average price is $57.82. The company has a current ratio of 1.51, a quick ratio of 1.35 and a debt-to-equity ratio of 0.22.
EOG Resources (NYSE:EOG) last released its quarterly earnings data on Thursday, May 7th. The energy exploration company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.11). The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $3.83 billion. EOG Resources had a net margin of 11.69% and a return on equity of 11.89%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. On average, analysts expect that EOG Resources will post 0.22 earnings per share for the current year.
A number of equities analysts recently commented on EOG shares. Piper Sandler downgraded EOG Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $113.00 to $39.00 in a research report on Tuesday, March 24th. Morgan Stanley lifted their price target on EOG Resources from $41.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Raymond James lowered their price target on shares of EOG Resources from $78.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Bank of America cut shares of EOG Resources from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus lifted their target price on shares of EOG Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Twelve investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $70.46.
About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the People's Republic of China, and Canada.
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