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EOG Resources Inc EOG

Morningstar Rating
$119.75 −2.20 (1.80%)
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Company Report

EOG Earnings: Firm Exceeds Production Guidance and Raises Full-Year Outlook; Raising FVE to $132

Narrow-moat EOG delivered production of 998 thousand barrels of oil equivalent per day in its third quarter, up 8.5% year over year and 3% sequentially. The firm exceeded the high end of its guidance (issued last quarter) by 1% and raised its outlook for fiscal 2023 to 982 mboe/d at the midpoint (versus 978 mboe/d previously). This places EOG firmly on track to conclude fiscal 2023 on solid footing, and we expect further improvements in 2024 as declining producer activity, rising domestic demand, and incremental LNG export capacity facilitate more favorable natural gas pricing. We’re raising our fair value estimate to $132 from $121 following the results, implying shares trade at a slight discount at the time of writing.

Price vs Fair Value

EOG is trading within a range we consider fairly valued.
Price
$119.75
Fair Value
$774.00
Uncertainty
Medium
1-Star Price
$712.70
5-Star Price
$69.70
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

EOG is among the most technically proficient operators in the business. Initial production rates from its shale wells consistently exceed industry averages.

Bears

The premium portion of EOG's inventory could run out after 10-15 years if the company fails to replace the locations it drills with new opportunities.

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News

Trading Information

Previous Close Price
$121.95
Day Range
$118.68122.09
52-Week Range
$98.52137.95
Bid/Ask
$118.37 / $121.02
Market Cap
$69.83 Bil
Volume/Avg
4.6 Mil / 3.0 Mil

Key Statistics

Price/Earnings (Normalized)
10.05
Price/Sales
2.96
Dividend Yield
2.76%
Dividend Yield (Forward)
3.04%
Total Yield
3.83%

Company Profile

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 2022, it reported net proved reserves of 4.2 billion barrels of oil equivalent. Net production averaged 908 thousand barrels of oil equivalent per day in 2022 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Sector
Energy
Industry
Oil & Gas E&P
Stock Style Box
Large Value
Total Number of Employees
2,850

Competitors

Valuation

Metric
EOG
OXY
FANG
Price/Earnings (Normalized)
10.0512.397.89
Price/Book Value
2.522.361.61
Price/Sales
2.961.873.24
Price/Cash Flow
6.224.144.59
Price/Earnings
EOG
OXY
FANG

Financial Strength

Metric
EOG
OXY
FANG
Quick Ratio
1.950.450.85
Current Ratio
2.431.000.89
Interest Coverage
65.6010.2526.98
Quick Ratio
EOG
OXY
FANG

Profitability

Metric
EOG
OXY
FANG
Return on Assets (Normalized)
18.20%6.21%13.23%
Return on Equity (Normalized)
29.55%22.05%23.16%
Return on Invested Capital (Normalized)
25.33%10.09%16.46%
Return on Assets
EOG
OXY
FANG

Oil & Gas E&P Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
COP
ConocoPhillipsSthnz$131.2 Bil
PXD
Pioneer Natural Resources CoCldgzm$51.8 Bil
OXY
Occidental Petroleum CorpGhbq$49.7 Bil
HES
Hess CorpChjjwv$41.9 Bil
DVN
Devon Energy CorpSpldcr$27.7 Bil
FANG
Diamondback Energy IncDsxzgg$26.2 Bil
CTRA
Coterra Energy Inc Ordinary SharesKcdbhj$18.6 Bil
MRO
Marathon Oil CorpHrcg$13.8 Bil
APA
APA CorpZln$10.4 Bil