Fintel reports that on April 11, 2023, Truist Securities maintained coverage of EOG Resources (NYSE:EOG) with a Buy recommendation.

Analyst Price Forecast Suggests 23.57% Upside

As of April 6, 2023, the average one-year price target for EOG Resources is $148.74. The forecasts range from a low of $109.08 to a high of $179.55. The average price target represents an increase of 23.57% from its latest reported closing price of $120.37.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for EOG Resources is $28,425MM, a decrease of 4.00%. The projected annual non-GAAP EPS is $15.36.

EOG Resources Declares $0.82 Dividend

On February 23, 2023 the company declared a regular quarterly dividend of $0.82 per share ($3.30 annualized). Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023. Previously, the company paid $0.82 per share.

At the current share price of $120.37 / share, the stock’s dividend yield is 2.74%. Looking back five years and taking a sample every week, the average dividend yield has been 2.03%, the lowest has been 0.57%, and the highest has been 4.82%. The standard deviation of yields is 0.96 (n=237).

The current dividend yield is 0.74 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.25. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 1.20%, demonstrating that it has increased its dividend over time.

What are Other Shareholders Doing?

DYNF – BlackRock U.S. Equity Factor Rotation ETF holds 1K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 51.90%. The firm increased its portfolio allocation in EOG by 170.97% over the last quarter.

Legacy Financial Advisors holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing an increase of 2.79%. The firm decreased its portfolio allocation in EOG by 99.89% over the last quarter.

United Services Automobile Association holds 65K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 27K shares, representing an increase of 58.87%. The firm increased its portfolio allocation in EOG by 131.55% over the last quarter.

Norway Savings Bank holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 3K shares, representing an increase of 7.57%. The firm decreased its portfolio allocation in EOG by 99.89% over the last quarter.

Oliver Luxxe Assets holds 31K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 30K shares, representing an increase of 0.97%. The firm decreased its portfolio allocation in EOG by 99.90% over the last quarter.

What is the Fund Sentiment?

There are 2530 funds or institutions reporting positions in EOG Resources. This is an increase of 151 owner(s) or 6.35% in the last quarter. Average portfolio weight of all funds dedicated to EOG is 0.53%, an increase of 2.14%. Total shares owned by institutions increased in the last three months by 1.15% to 662,981K shares. The put/call ratio of EOG is 0.87, indicating a bullish outlook.

EOG Resources Background Information
(This description is provided by the company.)

EOG Resources, Inc. is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the United States, Trinidad, and China.

See all EOG Resources regulatory filings.

This article originally appeared on Fintel

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