Skip to Content

EOG Resources Inc EOG

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

EOG Enjoys Solid Fourth-Quarter Earnings Beat, but Cash Tax Concerns Wallop Shares Anyway

Analyst Note

| Dave Meats, CFA |

EOG delivered production of 802 mboe/d in the fourth quarter, which was 12% higher sequentially and 6% lower year over year (due to COVID-19 disruption during 2020). This was slightly above the midpoint of the previously guided range (781.5-817.2 mboe/d). But while volumes were as expected, operating expenses were substantially better--on a per barrel basis, cash operating costs were 11% below guidance. As a result, the firm’s financial results were well above Street estimates. Adjusted EBITDA and adjusted earnings per share were $1.5 billion and $0.71, respectively (Factset consensus forecasts were $1.3 billion and $0.36).

Read Full Analysis

Company Profile

Business Description

EOG Resources is an oil and gas producer with acreage in several U.S. shale plays, including the Permian Basin, the Eagle Ford, and the Bakken. At the end of 2019, it reported net proved reserves of 3.3 billion barrels of oil equivalent. Net production averaged 818 thousand barrels of oil equivalent per day in 2019 at a ratio of 72% oil and natural gas liquids and 28% natural gas.

Contact
1111 Bagby, Sky Lobby 2
Houston, TX, 77002
T +1 713 651-7000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 2,900

Related