EOG Resources Inc. (EOG) Hits New 52-Week High Following Dividend Announcement
Shares of EOG Resources Inc. (NYSE:EOG) hit a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as $95.94 and last traded at $94.72, with a volume of 2,436,373 shares. The stock had previously closed at $93.96.
The newly announced dividend which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be paid a $0.1675 dividend. The ex-dividend date is Thursday, October 13th. This represents a $0.67 annualized dividend and a dividend yield of 0.69%. EOG Resources’s dividend payout ratio (DPR) is currently -7.14%.
EOG has been the topic of several analyst reports. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of EOG Resources in a research note on Wednesday, June 8th. Credit Agricole SA initiated coverage on EOG Resources in a research note on Wednesday, June 22nd. They issued an “underperform” rating on the stock. Barclays PLC lifted their target price on EOG Resources from $83.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Tudor Pickering downgraded EOG Resources from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Finally, Zacks Investment Research upgraded EOG Resources from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, July 18th. 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 assigned a strong buy rating to the company’s stock. EOG Resources presently has an average rating of “Hold” and a consensus price target of $91.96.
The firm has a 50 day moving average of $91.35 and a 200 day moving average of $83.17. The company’s market capitalization is $53.25 billion.
EOG Resources (NYSE:EOG) last posted its earnings results on Friday, August 5th. The energy exploration company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. EOG Resources had a negative return on equity of 6.32% and a negative net margin of 72.18%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue was down 28.1% compared to the same quarter last year. On average, analysts expect that EOG Resources Inc. will post ($1.67) EPS for the current fiscal year.
In other news, VP Ann D. Janssen sold 1,310 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $94.13, for a total value of $123,310.30. Following the sale, the vice president now directly owns 54,073 shares of the company’s stock, valued at $5,089,891.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William R. Thomas sold 16,581 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $92.86, for a total value of $1,539,711.66. Following the completion of the sale, the chief executive officer now directly owns 502,766 shares in the company, valued at $46,686,850.76. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Capital World Investors increased its stake in shares of EOG Resources by 17.0% in the second quarter. Capital World Investors now owns 15,441,504 shares of the energy exploration company’s stock valued at $1,288,130,000 after buying an additional 2,246,141 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of EOG Resources by 25.1% in the first quarter. JPMorgan Chase & Co. now owns 10,518,779 shares of the energy exploration company’s stock valued at $763,452,000 after buying an additional 2,107,452 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of EOG Resources by 23.5% in the second quarter. TIAA CREF Investment Management LLC now owns 8,283,932 shares of the energy exploration company’s stock valued at $691,046,000 after buying an additional 1,578,007 shares in the last quarter. Capital Research Global Investors increased its stake in shares of EOG Resources by 3.4% in the second quarter. Capital Research Global Investors now owns 43,151,080 shares of the energy exploration company’s stock valued at $3,599,663,000 after buying an additional 1,423,493 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of EOG Resources by 7.7% in the first quarter. Wellington Management Group LLP now owns 19,754,733 shares of the energy exploration company’s stock valued at $1,433,799,000 after buying an additional 1,419,018 shares in the last quarter. 89.44% of the stock is currently owned by institutional investors.
About EOG Resources
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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