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EOG Resources, Inc.
S&P 500
🏹 Trader: 🎯 Near 52W High | BRS 75 Ready View all →
$83.1B
Market Cap
11.5
P/E
2.59
PEG
16.1%
ROCE
16.8%
ROE
0.27
D/E
28.2%
OPM
-5.4%
% from 52W High
66
α RS
🔍 EOG is showing a high-conviction setup because it matches 15 of 37 tracked screener presets, Sector RRG has Energy in the Leading quadrant with the trail still rolling over, and RS Rating is 68. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 15/37 · Energy in Leading quadrant · RS Rating 68
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🌏 Global Investor Returns
Currency-adjusted total returns for EOG including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the United States, the Republic of Trinidad and Tobago, and internationally.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding EOG
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 83.6K $12.1M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$8.62B
+57% YoY
Operating Income
$3.53B
+102% YoY
Operating Margin
40.9%
+9.0pp YoY
Net Income
$2.72B
+103% YoY
What Went Right
  • Record Q2 free cash flow of $2.8B and adjusted EPS of $5.70.
  • UAE exploration wells exceeded expectations: average over 25,000 bbl/well in first 30 days.
  • Austin Chalk sweet spot added: 60,000 net acres at ~$1,200/acre, <1-year payout at $65 WTI.
  • Delaware efficiency improved: drilling feet/day up 13%, direct well costs below $710/ft.
What to Watch
  • Bahrain operations are intermittent due to the ongoing Middle East conflict.
  • Oil prices remain volatile from Iran conflict-driven supply disruptions.
  • Slight service cost inflation is emerging, partially mitigated by in-house efficiency efforts.
  • UAE exploration-phase well costs are initially higher and artificial-lift response is still unproven.
Management Guidance
  • Full-year 2026 unchanged: 5% oil production growth, 14% total production growth, capex $6.5B.
  • At strip pricing, 2026 plan generates $8B free cash flow; WTI breakeven below $50/bbl.
  • Reaffirmed returning at least 70% of annual free cash flow to shareholders in 2026.
  • UAE targeting laterals in excess of 2 miles for balance of 2026; no next-quarter revenue guidance provided.
Investor Lens
The investment thesis is stronger after this call. Record FCF, better-than-expected UAE well results, and a new high-return Austin Chalk play broaden EOG's optionality. Management reaffirmed 2026 guidance of 5% oil growth and $6.5B capex, with $8B FCF at strip and a below-$50 WTI breakeven. Main overhangs are Middle East conflict impacts on Bahrain and early-stage international execution risk.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2: $2.8B FCF, $5.70 adj EPS; growth intact.
Revenue
Total operating revenues were $8.62B in Q2 2026, up 57% YoY from $5.48B. Crude oil and condensate revenues contributed $4.90B, with NGLs at $770M, natural gas at $812M and gathering/processing/marketing at $2.01B.
Profitability
Net income rose to $2.72B from $1.34B YoY, with diluted EPS of $5.15 and adjusted EPS of $5.70. Adjusted cash flow from operations was $8.29 per share.
Margins
Operating margin improved to 40.9% from 31.9% YoY, up 9.0 percentage points. Management cited lower-than-expected LOE and GP&T, plus efficiency gains such as Delaware direct well costs below $710 per foot.
Balance Sheet
Cash ended at $4.9B, up about $1.1B sequentially; net debt was $3B. Record free cash flow of $2.8B funded $1.8B of shareholder returns, and $11.7B remains under the share repurchase authorization.
Key Risks
Bahrain operations were intermittent due to the Middle East conflict, and oil prices remain volatile. Management noted slight service cost inflation, mitigated by initiatives like the in-house drilling motor program, while UAE well costs are initially higher in the exploration phase.
Outlook
Full-year 2026 guidance is unchanged: 5% oil production growth, 14% total production growth and $6.5B capex. At strip, EOG expects $8B free cash flow and a WTI breakeven below $50 per barrel; no next-quarter revenue guidance was given.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Record Q2 2026 results featured all-time highs in adjusted EPS, cash flow, and free cash flow, with over $1.8B returned to shareholders. Operational efficiencies, robust exploration, and a strong balance sheet support continued growth and resilience.
Q1 2026 Q1 2026 2026-05-06
Q1 2026 saw strong financial and operational outperformance, with $1.8B adjusted net income and $1.5B free cash flow. Oil and NGL production guidance was raised for 2026, capital spending held flat, and at least 70% of free cash flow will be returned to shareholders.
Q4 2025 Q4 2025 2026-02-25
2025 delivered record free cash flow, robust shareholder returns, and operational outperformance, with major progress in cost reductions, asset integration, and international expansion. 2026 guidance targets strong free cash flow, disciplined capital, and continued growth across core and emerging assets.
Q3 2025 Q3 2025 2025-11-07
Q3 2025 saw strong financial and operational results, highlighted by the Encino acquisition, $1.4B in free cash flow, and nearly 90% of estimated 2025 free cash flow returned to shareholders. The company remains bullish on long-term oil and gas demand and continues to prioritize capital discipline and technology-driven efficiency.
Q2 2025 Q2 2025 2025-08-08
Q2 2025 saw volumes and financials exceed guidance, with nearly $1B in free cash flow and over $1.1B returned to shareholders. The Encino acquisition closed, expanding Utica resources, and a 5% dividend increase was announced. Operational and technological advances continue to drive efficiency.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
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