EOG Resources Inc. (NYSE:EOG) shares shot up 2.9% on Wednesday after the company announced a dividend. The stock traded as high as $91.23 and last traded at $91.11, with a volume of 1,475,168 shares trading hands. 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 paid a $0.1675 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.67 annualized dividend and a yield of 0.70%. EOG Resources’s dividend payout ratio is presently -7.14%.
A number of equities research analysts have recently commented on EOG shares. Citigroup Inc. reduced their target price on shares of EOG Resources from $104.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, September 22nd. FBR & Co set a $108.00 target price on shares of EOG Resources and gave the company a “buy” rating in a report on Monday, September 19th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $90.00 target price on shares of EOG Resources in a report on Monday, September 12th. Simmons reaffirmed an “overweight” rating and issued a $109.00 target price (up from $103.00) on shares of EOG Resources in a report on Friday, September 9th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $108.00 target price (up from $105.00) on shares of EOG Resources in a report on Wednesday, September 7th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. EOG Resources presently has an average rating of “Hold” and an average target price of $91.96.
The stock has a 50 day moving average of $91.17 and a 200-day moving average of $83.01. The stock’s market cap is $52.34 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, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.10. EOG Resources had a negative net margin of 72.18% and a negative return on equity of 6.32%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 28.1% compared to the same quarter last year. On average, analysts expect that EOG Resources Inc. will post ($1.67) earnings per share for the current fiscal year.
In other EOG Resources news, CFO Timothy K. Driggers sold 8,763 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $93.44, for a total transaction of $818,814.72. Following the transaction, the chief financial officer now directly owns 184,402 shares in the company, valued at approximately $17,230,522.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Ann D. Janssen sold 1,310 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $94.13, for a total transaction of $123,310.30. Following the transaction, the vice president now owns 54,073 shares in the company, valued at $5,089,891.49. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOG. Tortoise Investment Management LLC acquired a new position in EOG Resources during the second quarter worth about $100,000. Lenox Wealth Management Inc. increased its position in EOG Resources by 53.6% in the second quarter. Lenox Wealth Management Inc. now owns 1,465 shares of the energy exploration company’s stock worth $122,000 after buying an additional 511 shares during the last quarter. Pinkerton Retirement Specialists LLC increased its position in EOG Resources by 819.1% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,489 shares of the energy exploration company’s stock worth $124,000 after buying an additional 1,327 shares during the last quarter. Citizens Financial Group Inc RI increased its position in EOG Resources by 2.3% in the second quarter. Citizens Financial Group Inc RI now owns 1,680 shares of the energy exploration company’s stock worth $140,000 after buying an additional 38 shares during the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in EOG Resources during the second quarter worth about $160,000. 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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