EOG Resources Inc. (EOG) Stock Price Up 2.9% Following Dividend Announcement
EOG Resources Inc. (NYSE:EOG) shares rose 2.9% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $91.23 and last traded at $91.11, with a volume of 1,475,168 shares traded. The stock had previously closed at $88.56.
The newly announced dividend which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be issued a dividend of $0.1675 per share. This represents a $0.67 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, October 13th. EOG Resources’s dividend payout ratio is presently -7.14%.
EOG has been the subject of several recent research reports. Bank of America Corp. set a $100.00 price target on EOG Resources and gave the company a “hold” rating in a report on Friday, August 5th. Barclays PLC upped their price objective on EOG Resources from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $90.00 price objective on shares of EOG Resources in a research note on Tuesday, August 9th. Zacks Investment Research raised EOG Resources from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, July 25th. Finally, Deutsche Bank AG raised EOG Resources from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $96.00 in a research note on Friday, August 5th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $91.96.
The stock has a 50-day moving average price of $91.17 and a 200 day moving average price of $83.01. The stock’s market capitalization is $52.34 billion.
EOG Resources (NYSE:EOG) last issued its earnings results on Friday, August 5th. The energy exploration company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.10. The firm earned $1.78 billion during the quarter, compared to the consensus estimate of $1.57 billion. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The company’s revenue was down 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities research analysts forecast that EOG Resources Inc. will post ($1.67) earnings per share for the current fiscal year.
In other EOG Resources news, EVP Lloyd W. Helms, Jr. sold 4,875 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $81.82, for a total value of $398,872.50. Following the completion of the transaction, the executive vice president now owns 59,032 shares in the company, valued at $4,829,998.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ann D. Janssen sold 1,310 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $94.13, for a total transaction of $123,310.30. Following the completion of the transaction, the vice president now owns 54,073 shares of the company’s stock, valued at approximately $5,089,891.49. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in EOG Resources by 6.8% in the second quarter. Macquarie Group Ltd. now owns 247,483 shares of the energy exploration company’s stock valued at $20,646,000 after buying an additional 15,661 shares in the last quarter. Carnick & Kubik Group LLC bought a new position in EOG Resources during the second quarter valued at about $902,000. Williams Jones & Associates LLC increased its position in EOG Resources by 4.3% in the second quarter. Williams Jones & Associates LLC now owns 454,336 shares of the energy exploration company’s stock valued at $37,901,000 after buying an additional 18,876 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in EOG Resources during the second quarter valued at about $1,854,000. Finally, Kentucky Retirement Systems bought a new position in EOG Resources during the second quarter valued at about $3,904,000. Institutional investors own 89.44% of the company’s stock.
EOG Resources Company Profile
EOG Resources, Inc (EOG) explores for, develops, produces and markets crude oil and natural gas primarily in major producing basins in the United States, The Republic of Trinidad and Tobago (Trinidad), the United Kingdom, The People’s Republic of China (China), Canada and, from time to time, select other international areas.
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