EOG Resources (EOG) = Growth + Income in 2023

[dan_s]

EOG Resources has been in our Sweet 16 since EPG was founded in 2001. I am moving it to our High Yield Income Portfolio this year.
Here is why:

On February 24, 2022, the Board declared a quarterly cash dividend on the common stock of $0.75 per share
paid on April 29, 2022, to stockholders of record as of April 15, 2022. The Board also declared on such date a special dividend
of $1.00 per share paid on March 29, 2022, to stockholders of record as of March 15, 2022.

On May 5, 2022, the Board declared a quarterly cash dividend on the common stock of $0.75 per share paid on July 29, 2022,
to stockholders of record as of July 15, 2022. The Board also declared on such date a special dividend of $1.80 per share paid
on June 30, 2022, to stockholders of record as of June 15, 2022.

On August 4, 2022, the Board declared a special dividend on the common stock of $1.50 per share paid on September 29, 2022,
to stockholders of record as of September 15, 2022.

On September 29, 2022, the Board declared a quarterly cash dividend on the common stock of $0.75 per share payable on
October 31, 2022, to stockholders of record as of October 17, 2022. At September 30, 2022, this quarterly cash dividend was
accrued as Dividends Payable on the Condensed Consolidated Balance Sheets.

On November 3, 2022, the Board (i) increased the quarterly cash dividend on the common stock from the previous $0.75 per
share to $0.825 per share, effective beginning with the dividend payable on January 31, 2023, to stockholders of record as of
January 17, 2023, and (ii) declared a special cash dividend on the common stock of $1.50 per share, payable on December 30,
2022, to stockholders of record as of December 15, 2022.
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In 2022 EOG paid "Base + Special Dividends" of $8.875 per share for annualized yield of 6.85% based on EOG's closing price of $129.52.
Based on my 2023 forecast, EOG should be able to maintain dividends at $2.25/Qtr or more per share going forward.
Plus, EOG has 8% to 10% annual production growth locked in for many years. This is a classic "Growth + Income Stock".

My current valuation of EOG is $167/share.
TipRanks: "In the last 3 months, 20 ranked analysts set 12-month price targets for EOG. The average price target among the analysts is $156.15. The 20 price targets range from $136 to $173."