EOG Resources (NYSE:EOG) Stock, Quote.Headers.trade-ideas

EOG Resources

EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2023, it reported net proven reserves of 4.5 billion barrels of oil equivalent. Net production averaged roughly 985,000 barrels of oil equivalent per day in 2023 at a ratio of 71% oil and natural gas liquids and 29% natural gas.

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EOG Resources Inc

EMERALD OIL & GAS NL ORD by Emerald Oil & Gas NL

Emerald Resources NL

EOG RESOURCES ORD

UBS analyst Josh Silverstein maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Buy and lowers the price target from $167 to $154.

Price Target

UBS Maintains Buy on EOG Resources, Lowers Price Target to $154

Revealing a significant insider sell on September 16, Ann D Janssen, EVP &amp; Chief Financial Officer at EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), as per the latest SEC filing.
What Happened: Janssen opted to sell 8,337 shares of EOG Resources, according to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000821189/000112760224023978//Archives/edgar/data/821189/000112760224023978/0001127602-24-023978-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The transaction's total worth stands at $991,811.
At Tuesday morning, EOG Resources shares are up by 0.8%, trading at $122.64.
<h3>About EOG Resources</h3>
EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2023, it reported net proven reserves of 4.5 billion barrels of oil equivalent. Net production averaged roughly 985,000 barrels of oil equivalent per day in 2023 at a ratio of 71% oil and natural gas liquids and 29% natural gas.
<h3>EOG Resources: Financial Performance Dissected</h3>
Revenue Growth: EOG Resources's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 10.42%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Insights into Profitability:
<ul>
<li>
Gross Margin: The company sets a benchmark with a high gross margin of 70.19%, reflecting superior cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): EOG Resources's EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 2.97.
</li>
</ul>
Debt Management: EOG Resources's debt-to-equity ratio is below the industry average. With a ratio of 0.14, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: EOG Resources's P/E ratio of 9.4 is below the industry average, suggesting the stock may be undervalued.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 2.93 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With a below-average EV/EBITDA ratio of 4.99, EOG Resources presents an opportunity for value investors. This lower valuation may attract investors seeking undervalued opportunities.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
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<h3>The Relevance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>Navigating the World of Insider Transaction Codes</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000821189">Check Out The Full List Of EOG Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Sell Alert: Ann D Janssen Cashes Out $991K In EOG Resources Stock

Morgan Stanley analyst Devin McDermott maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Equal-Weight and lowers the price target from $134 to $132.

Morgan Stanley Maintains Equal-Weight on EOG Resources, Lowers Price Target to $132

JP Morgan analyst Arun Jayaram maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Neutral and lowers the price target from $143 to $135.

JP Morgan Maintains Neutral on EOG Resources, Lowers Price Target to $135

EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) has outperformed the market over the past 20 years by 2.32% on an annualized basis producing an average annual return of 10.54%. Currently, EOG Resources has a market capitalization of $67.28 billion. 
Buying $1000 In EOG: If an investor had bought $1000 of EOG stock 20 years ago, it would be worth $7,404.84 today based on a price of $118.33 for EOG at the time of writing.
<h3>EOG Resources's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726072213_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In EOG Resources 20 Years Ago Would Be Worth Today

In the preceding three months, 11 analysts have released ratings for EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), presenting a wide array of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $150.64, a high estimate of $167.00, and a low estimate of $125.00. A 1.75% drop is evident in the current average compared to the previous average price target of $153.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1725462025_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of EOG Resources among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$158.00</td>
<td>$159.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$167.00</td>
<td>$166.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$147.00</td>
<td>$154.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$166.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$159.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$130.00</td>
<td>$136.00</td>
</tr>
<tr>
<td>Bob Brackett</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$125.00</td>
<td>$139.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$150.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$147.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Tim Rezvan</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$157.00</td>
<td>-</td>
</tr>
<tr>
<td>Noah Hungness</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$151.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to EOG Resources. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of EOG Resources compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for EOG Resources's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of EOG Resources's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/EOG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EOG Resources analyst ratings.</a>
<h2>All You Need to Know About EOG Resources</h2>
EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2023, it reported net proven reserves of 4.5 billion barrels of oil equivalent. Net production averaged roughly 985,000 barrels of oil equivalent per day in 2023 at a ratio of 71% oil and natural gas liquids and 29% natural gas.
<h3>EOG Resources: A Financial Overview</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: EOG Resources's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.42%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: EOG Resources's net margin is impressive, surpassing industry averages. With a net margin of 28.03%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): EOG Resources's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.85% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): EOG Resources's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 3.75%, the company showcases efficient use of assets and strong financial health.
Debt Management: EOG Resources's debt-to-equity ratio is below the industry average at 0.14, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For EOG Resources

Susquehanna analyst Biju Perincheril maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Positive and lowers the price target from $159 to $158.

Susquehanna Maintains Positive on EOG Resources, Lowers Price Target to $158

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EOG Resources's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) short percent of float has fallen 6.15% since its last report. The company recently reported that it has 9.56 million shares sold short, which is 1.68% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.84 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>EOG Resources Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724953522_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for EOG Resources has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing EOG Resources's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, EOG Resources's peer group average for short interest as a percentage of float is 5.77%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About EOG Resources?

EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) has outperformed the market over the past 20 years by 3.13% on an annualized basis producing an average annual return of 11.42%. Currently, EOG Resources has a market capitalization of $72.89 billion. 
Buying $1000 In EOG: If an investor had bought $1000 of EOG stock 20 years ago, it would be worth $8,738.63 today based on a price of $128.20 for EOG at the time of writing.
<h3>EOG Resources's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724871639_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $8,700 Today

UBS analyst Josh Silverstein maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Buy and raises the price target from $166 to $167.

UBS Maintains Buy on EOG Resources, Raises Price Target to $167

Piper Sandler analyst Mark Lear maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Overweight and lowers the price target from $154 to $147.

Piper Sandler Maintains Overweight on EOG Resources, Lowers Price Target to $147

EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) has outperformed the market over the past 20 years by 3.37% on an annualized basis producing an average annual return of 11.61%. Currently, EOG Resources has a market capitalization of $72.29 billion. 
Buying $100 In EOG: If an investor had bought $100 of EOG stock 20 years ago, it would be worth $911.74 today based on a price of $127.13 for EOG at the time of writing.
<h3>EOG Resources's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723480215_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning EOG Resources Stock In The Last 20 Years

Shares of oil and gas companies are trading higher amid a rebound in the price of oil.

UBS analyst Josh Silverstein maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Buy and lowers the price target from $169 to $166.

UBS Maintains Buy on EOG Resources, Lowers Price Target to $166

Occidental Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) is expected to report an improvement in its top and bottom lines when it reports second-quarter 2024 results on Aug 7, after market close.
The Zacks Consensus Estimate for OXY&#39;s second-quarter revenues is pegged at $7.18 billion, indicating a 6.6% increase from the year-ago reported figure.
The consensus estimate for earnings is pegged at 77 cents per share. The Zacks Consensus Estimate for OXY&#39;s second-quarter earnings has decreased by 18.9% in the past 60 days. The estimate suggests year-over-year growth of 13.24%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/57/73323.jpg?v=1290718397" style="height:275px; width:600px" />
Image Source: Zacks Investment Research
<h3>Solid Earnings Surprise History</h3>
Occidental Petroleum&#39;s earnings beat the Zacks Consensus Estimate in three out of the trailing four quarters while lagging in one quarter, the average surprise being 11.45%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d4/73325.jpg?v=1924528354" style="height:275px; width:600px" />
Image Source: Zacks Investment Research
<h3>What the Zacks Model Unveils</h3>
Our proven model does not conclusively predict an earnings beat for Occidental Petroleum this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.
<div class="chart_embed">
<h3>Occidental Petroleum Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Occidental Petroleum Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/18/1722857367.png" style="height:285px; width:619px" title="" />
Occidental Petroleum Corporation price-consensus-eps-surprise-chart | Occidental Petroleum Corporation Quote
Earnings ESP: Occidental has an Earnings ESP of -3.34%.
Zacks Rank: Occidental Petroleum currently carries a Zacks Rank #3.
</div>
<h3>Factors Likely to Have Shaped OXY&#39;s Q2 Earnings</h3>
Occidental&#39;s second-quarter production volumes are expected in the range of 1.23 million to 1.27 million barrels of oil equivalents per day compared to the first quarter annual low of 1.17 million BOE per day. The sequential improvement in production volume in the second quarter is mainly due to the strong performance of its onshore assets, the completion of annual planned maintenance at Dolphin and the return of production in mid-April from the Gulf of Mexico outage.
Strong output from the Permian and Rockies is expected to have boosted performance in the quarter under discussion. OXY&#39;s performance is also expected to have been positively impacted by its routine flaring reduction initiatives.
Occidental&#39;s Chemical business is expected to have experienced modest price improvement and higher volumes post the usual period of seasonal subdued demand.
Strong cash flow generation allows Occidental to continue share buybacks, which are likely to have a positive impact on earnings. The repayment of outstanding debt might have reduced capital servicing costs. Also, it is expected to have boosted margins.
<h3>Price Performance and Valuation</h3>
OXY&#39;s shares have gained 2% in the past six months against the industry&#39;s decline of 0.6%.
<h3>Price Performance Chart (six months)</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/73331.jpg?v=288180726" style="height:275px; width:600px" />
Image Source: Zacks Investment Research
Occidental&#39;s shares are somewhat expensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) being 5.92 compared with its industry average of 4.8.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/01/73332.jpg?v=1897760999" style="height:275px; width:600px" />
Image Source: Zacks Investment Research
Other operators in the space, like ConocoPhillips (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cop#NYSE">COP</a>) and EOG Resources Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cop#NYSE">COP</a>), are currently trading at a discount compared with Occidental Petroleum. EV/EBITDA TTM multiple of COP and EOG are currently pegged at 5.24 and 5.22, respectively.
<h3>Investment Thesis</h3>
Occidental Petroleum&#39;s strong domestic operation and focus on Permian resources have been beneficial for the company. The company&#39;s core development area in the Permian region has been recording solid results. Production from this region is expected to improve further from the current levels, courtesy of the new wells added in this region.
The company recently completed its large-scale asset divestiture program and utilized the net proceeds from asset sales and free cash flow to repay near and medium-term debt maturities. The company retired more than $10.5 billion in long-term debt and lowered its interest and financial expenses annually by $400 million.
Occidental&#39;s times interest earned ratio currently stands at 6.6, which indicates that the company has enough financial strength to meet its interest obligations. 
However, exposure to commodity price fluctuation and a very competitive oil and gas industry are headwinds for the company.
<h3>Summing Up</h3>
Occidental&#39;s second-quarter earnings are expected to have benefited from strong production volumes coming from domestic operations.
Occidental&#39;s cash flow generation and ongoing initiatives to lower debts, strength in global operations and benefits from acquisition are expected to have boosted its performance.
However, its exposure to commodity price fluctuation and a very competitive oil and gas industry pose challenges.
Despite the headwinds, keeping this Zacks Rank #3 (Hold) stock in your portfolio is advisable, given its strong domestic operations, contribution from the chemical business and exposure to the prolific Permian Basin.
<a href="https://www.zacks.com/stock/news/2315974/should-you-buy-or-hold-occidental-oxy-ahead-of-q2-earnings?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2315974">To read this article on Zacks.com click here.</a>

In the last three months, 11 analysts have published ratings on EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), offering a diverse range of perspectives from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for EOG Resources, presenting an average target of $145.0, a high estimate of $159.00, and a low estimate of $125.00. This current average has decreased by 0.54% from the previous average price target of $145.78. 
<img src="https://www.benzinga.com/files/images/story/2024/1722866452_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive EOG Resources. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$159.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$130.00</td>
<td>$136.00</td>
</tr>
<tr>
<td>Bob Brackett</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$125.00</td>
<td>$139.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$150.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$147.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Tim Rezvan</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$157.00</td>
<td>-</td>
</tr>
<tr>
<td>Noah Hungness</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$151.00</td>
<td>-</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$130.00</td>
<td>$124.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$136.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$154.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$156.00</td>
<td>$140.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to EOG Resources. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of EOG Resources compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of EOG Resources's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of EOG Resources's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/EOG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on EOG Resources analyst ratings.</a>
<h2>All You Need to Know About EOG Resources</h2>
EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2023, it reported net proven reserves of 4.5 billion barrels of oil equivalent. Net production averaged roughly 985,000 barrels of oil equivalent per day in 2023 at a ratio of 71% oil and natural gas liquids and 29% natural gas.
<h3>Understanding the Numbers: EOG Resources's Finances</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: EOG Resources's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 10.42%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Net Margin: EOG Resources's net margin excels beyond industry benchmarks, reaching 28.03%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): EOG Resources's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.85%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): EOG Resources's ROA stands out, surpassing industry averages. With an impressive ROA of 3.75%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: EOG Resources's debt-to-equity ratio is below the industry average. With a ratio of 0.14, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 11 Analyst Recommendations For EOG Resources

Susquehanna analyst Biju Perincheril maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Positive and raises the price target from $155 to $159.

Susquehanna Maintains Positive on EOG Resources, Raises Price Target to $159

Wall Street is experiencing a sharp decline on the last trading day of the week, with all indices in the red at noon in New York, as a cooler-than-expected July jobs report rattled risk sentiment and sparked concerns that the Federal Reserve may have erred in delaying a <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40129796/job-creation-tumbles-in-july-higher-unemployment-strengthens-case-for-interest-ra">rate cut until September.</a>
Nonfarm payrolls slowed to 114,000 in July, a decline of 65,000 from June and well below the expected 150,000. More alarmingly, the unemployment rate increased <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40129796/job-creation-tumbles-in-july-higher-unemployment-strengthens-case-for-interest-ra">from 4.1% to 4.3%.</a>
As a result, market-implied probabilities over a 50-basis-point cut in September have spiked to 73%, according to CME Group FedWatch tool. 
The tech-heavy Nasdaq 100 has <a href="https://www.benzinga.com/markets/equities/24/08/40135090/old-school-summer-risk-off-vix-up-over-50-nasdaq-100-enters-correction-chipmakers-officially-in-">entered a correction phase</a> after surpassing a 10% drawdown since its July peak. Mega-cap, high-quality tech stocks offered no refuge to investors, as the Magnificent Seven giants all suffered losses except for Apple Inc., buoyed by an upbeat earnings report. Collectively, the Magnificent Seven lost over $300 billion in market value on Friday alone.
The CBOE Volatility Index (VIX), popularly known as the market&#8217;s fear gauge, surged over 30% to reach the high-20 levels.
Small caps were again the weakest segment of the market, given their heightened sensitivity to economic fundamentals. The Russell 2000 tumbled over 3%, extending declines after a 3.4% loss on Thursday.
Consumer discretionary and technology were the worst-performing sectors, while semiconductors led the selloff among industries. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) plummeted over 5%, marking a double-digit loss in the last two sessions, its worst performance since March 2020.
Nvidia Corp. fell an additional 3.4% following a 6.7% decline on Thursday, as the chipmaker came under investigation by the U.S. Department of Justice for potential antitrust violations.
Treasuries were the biggest gainers among major assets, reflecting a broad-based flight-to-quality sentiment. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 2.9%, its strongest performance since the U.S. regional bank crisis in March 2023.
The Japanese yen also gained significantly, with the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>) up 1.8%.
Gold edged down slightly by 0.6%, while oil prices fell more than 4% for the day, with West Texas Intermediate (WTI) light crude retreating to $72 a barrel.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 3%.
<h3 class="wp-block-heading">Friday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,492.36</td>
<td>-2.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,321.21</td>
<td>-2.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,355.31</td>
<td>-2.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,110.14</td>
<td>-3.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 2.2% lower to $531.13.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 1.9% to $395.39.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.6% to $447.80.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 3.5% to $208.99.</li>
<li>Sector-wise, the Consumer Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)&nbsp;outperformed, up 0.1%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) tumbled by 3.4%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports were: 
<ul>
<li>Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) <a href="https://www.benzinga.com/analyst-ratings/price-target/24/08/40135676/10-amazon-analysts-assess-q2-earnings-strong-aws-growth-retail-challenges">down nearly 10%.</a> </li>
<li>Apple, Inc. up by 2.9%</li>
<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) up 0.5%, </li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) down about 8%, </li>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) down 3.2%,</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) up over 7%, </li>
<li>Coinbase Global Inc. down 2.8%,</li>
<li>DraftKings Inc. down over 9%,</li>
<li>EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) down 1.9%,</li>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), down 0.6%,</li>
<li>Intel Corporation, down nearly 28%,</li>
<li>MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) up 11%,</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) down over 8%, </li>
<li>Opendoor Technologies Inc. (NASDAQ: OPEN down about 10%, </li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) up over 10%.</li>
<li>Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) down 2%. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40135938/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">Benzinga's ‘Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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5 Relatively Secure And Cheap Dividend Stocks To Invest In -- September 2024

Harris Associates U.S. Concentrated Strategy Q2 2024 Commentary

Although global oil demand is projected to grow, it's happening more slowly. In this climate, investing in fundamentally sound companies such as EOG Resources, Inc. (EOG), Energy Transfer LP (ET), and Sabine Royalty Trust (SBR) could be wise. These firms offer not just reliable dividend income but also strong potential for long-term growth. Continue reading… Oil prices have recently <a href="https://www.reuters.com/markets/commodities/oil-steady-supply-disruptions-storm-francine-offset-weak-demand-2024-09-10/">hit their lowest levels</a> in years, with Brent crude falling to $69.19 per barrel and U.S. West Texas Intermediate (WTI) settling at $65.75, driven by concerns over weakening global demand. In this environment, income-seeking investors are turning to high-yield oil stocks that can provide a buffer against volatility.
Below, I have highlighted three such quality dividend-paying stocks: EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>), Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), and Sabine Royalty Trust (<a href="https://stocknews.com/stock/SBR/">SBR</a>), which could provide stable returns to your portfolio.
The downward pressure follows a revision by the Organization of the Petroleum Exporting Countries (OPEC), which lowered its demand forecasts for 2024 and 2025, stoking fears of an oversupplied market. On Tuesday, OPEC adjusted its global oil demand forecast, projecting a rise of 2.03 million barrels per day (bpd) in 2024, down from last month's forecast for growth of 2.11 million bpd. It also lowered its 2025 demand growth outlook, reducing it <a href="https://www.reuters.com/business/energy/opec-again-lowers-2024-2025-global-oil-demand-growth-view-2024-09-10/#:~:text=On%20Tuesday%2C%20OPEC%20in%20a,first%20made%20in%20July%202023.">from 1.78 million bpd to 1.74 million bpd</a>.
Meanwhile, the U.S. Energy Information Administration (EIA) provided a more optimistic outlook for 2024. The EIA expects global oil demand to hit a new record, averaging <a href="https://www.reuters.com/business/energy/us-eia-lifts-oil-demand-forecast-says-prices-will-recover-above-80bbl-2024-09-10/">103.1 million barrels per day</a>, 200,000 barrels higher than its prior forecast. Despite this, oil prices remained under pressure, largely due to lingering concerns about China's economic slowdown, which casts a shadow over the global market.
Given this backdrop, let's analyze the fundamental aspects of the featured <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> stocks, starting with the third choice.
Stock #3: Sabine Royalty Trust (<a href="https://stocknews.com/stock/SBR/">SBR</a>)
SBR holds royalty and mineral interests in various oil and gas production properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interests in certain producing and proved undeveloped oil and gas properties.
On September 6, the company declared a cash distribution to the holders of its units of beneficial interest of $0.421310 per unit, payable on September 30, 2024, to unit holders of record on September 16, 2024.
SBR pays an annual <a href="https://www.investopedia.com/terms/d/dividend.asp">dividend</a> of $5.06 per unit, which translates to a yield of 8.42% on the current share price. Its four-year average dividend yield is 8.90%. The company's dividend payouts have grown at a CAGR of 34.4% over the past three years.
SBR's trailing-12-month gross profit margin of 100% is 122.1% higher than the 45.03% industry average. Similarly, the stock's trailing-12-month EBIT and net income margins of 97.16% and 96.48% favorably compare to their respective industry averages of 20.68% and 11.70%.
For the fiscal second quarter that ended June 30, 2024, SBR's royalty income increased 29.7% year-over-year to $22.61 million, while its distributable income increased 32.2% year-over-year to $22.08 million. In addition, its distributable income per unit increased 31.3% year-over-year to $1.51.
Moreover, its revenue and EBIT have grown at impressive CAGRs of 34.8% and 36.9%, respectively, over the past three years. Also, its EPS has increased at a 36.9% CAGR over the same period.
However, the stock has lost 2.2% over the past six months to close the last trading session at $60.03.
SBR's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has a B grade for Growth, Sentiment, and Quality. SBR is ranked #11 out of 80 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry. <a href="https://stocknews.com/stock/SBR/">Click here</a> to access all SBR ratings (Value, Momentum, and Stability).
Stock #2: EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>)
EOG is a crude oil and natural gas exploration and production company. It explores, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas, primarily in major producing basins in the United States, the Republic of Trinidad and Tobago, and internationally.
On August 1, the company's Board of Directors declared a dividend of $0.91 per share on EOG's common stock. The dividend will be payable on October 31, 2024, to stockholders of record as of October 17, 2024.
With six years of consecutive dividend growth, EOG pays an annual dividend of $5.14 per share, which translates to a yield of 4.36% on the current share price. Its four-year average dividend yield is 4.76%. Moreover, the company's dividend payouts have increased at CAGRs of 31.2% and 30.3% over the past three and five years, respectively.
EOG's trailing-12-month gross profit and EBITDA margins of 62.73% and 56% are 39.3% and 58.8% higher than the industry averages of 45.03% and 35.27%, respectively. Likewise, its 27.06% trailing-12-month ROCE compares favorably to the 13.06% industry average.
During the second quarter (ended June 30, 2024), EOG's total revenue increased 8.1% year-over-year to $6.03 billion. Its operating income grew 8.1% from the year-ago value to $2.13 billion. The company's adjusted net income amounted to $1.81 billion and $3.16 per share, reflecting a 24% and 26.9% year-over-year growth, respectively. In addition, its free cash flow stood at $1.37 billion, up 31.9% year-over-year.
Street expects EOG's EPS for the fiscal year ending December 2024 to increase 4% year-over-year to $12.16. Its revenue for the current year is projected to grow by 2.2% from the year-ago value to $24.72 billion.
In addition, the stock's revenue and EBITDA have grown at CAGRs of 20.4% and 28% over the past three years, respectively. Similarly, its EPS has improved at a 58.8% CAGR over the same time frame.
EOG's shares have gained 74.7% over the past year and 44.3% year-to-date to close the last trading session at $117.90.
It's no surprise that EOG has an overall rating of B, which equates to Buy in our proprietary rating system. It has an A grade for Quality and a B for Stability. Out of 80 stocks in the same industry, it is ranked #10.
In addition to the POWR Ratings we've stated above, we also have EOG's ratings for Growth, Value, Momentum, and Sentiment. Get all EOG ratings <a href="https://stocknews.com/stock/EOG/">here</a>.
Stock #1: Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET provides energy-related services. It owns and operates a natural gas transportation pipeline, natural gas storage facilities, and nearly 20,090 miles of interstate natural gas pipeline. The company also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.
On August 9, ET paid its unitholders a dividend of $0.32 per common unit for the second quarter, reflecting an increase of 3.2% year-over-year. The company pays an annual distribution of $1.28 per unit, which translates to a yield of 8.07% on the current share price. Its four-year average dividend yield is 8.86%.
On July 15, the company acquired WTG Midstream Holdings LLC for $2.28 billion in cash and 50.8 million newly issued ET common units. The acquisition expands ET's Midland Basin network with 6,000 miles of gas-gathering pipelines, eight gas processing plants with a capacity of 1.3 Bcf/d, and two additional plants under construction.
Moreover, the deal is expected to boost NGL and natural gas volumes, generating additional revenue from gathering, processing, and transportation fees. ET anticipates that the WTG assets will increase Distributable Cash Flow by $0.04 per unit in 2025, rising to $0.07 by 2027.
The stock's trailing-12-month asset turnover ratio of 0.74x is 48.9% higher than the industry average of 0.50x. Likewise, its 13.59% trailing-12-month ROCE is 4.1% above the industry average of 7.39%.
ET's revenues increased 13.1% year-over-year to $20.73 billion during the second quarter that ended June 30, 2024. Its operating income grew 25.2% from the year-ago value to $2.29 billion. Net income attributable to partners came in at $1.31 billion and $0.35 per common unit, up 44.2% and 40% from the prior year's quarter, respectively.
Furthermore, the company's adjusted EBITDA increased 20.4% year-over-year to $3.76 billion. And its adjusted distributable cash flow rose 31.2% from the year-ago value to $2.04 billion.
Analysts expect ET's revenue for the third quarter (ending September 2024) to increase 13.2% year-over-year to $23.47 billion. Its EPS for the same quarter is expected to improve 120.3% from the prior year to $0.37. For the fiscal year 2024, the company's revenue and EPS are expected to grow 13.3% and 31.6% year-over-year to $89.01 billion and $1.43, respectively.
Over the past three years, its revenue and net income have grown at respective CAGRs of 17.1% and 5.8%. Likewise, its levered FCF has increased at a 5.9% CAGR over the same time frame.
Shares of ET have surged 19.6% over the past nine months to close the last trading session at $15.87.
ET's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Growth and a B for Value, Momentum, and Stability. ET is ranked #2 in the same industry. To see additional POWR Ratings of ET for Sentiment and Quality, <a href="https://stocknews.com/stock/ET/">click here</a>.
What To Do Next?
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<hr />
EOG shares were trading at $118.13 per share on Thursday afternoon, up $0.23 (+0.20%). Year-to-date, EOG has declined -0.20%, versus a 18.21% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/eog-et-sbr-3-oil-stocks-with-high-yields-to-buy-now/>3 Oil Stocks With High Yields to Buy Now</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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EOG Resources

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