EOG Resources Inc
S&P 500 Stocks: Analysts Bullish on Diamondback
Diamondback Energy (FANG) has the second-highest percentage of “buy” ratings among the constituents of the S&P 500 Index (SPY). Here’s why.
The US Energy Sector: An Overview
To understand the US energy sector, it’s essential first to understand the country’s energy needs. The US uses various energy sources to meet its energy needs.
Do US Energy Stocks Look Promising?
Crude oil production continues to rise, and oil prices remain at $50. Despite that, US energy stocks aren’t getting investors’ interest.
Oil and Energy Stocks Fall after Trump’s Latest Tariff
President Trump’s new tariff impacted crude oil prices. On Thursday, the WTI near-month crude oil futures price fell approximately 8%.
Could Inventory Data Surprise Oil Traders?
Tomorrow, the EIA (U.S. Energy Information Administration) is set to report inventory data for last week (ended July 26).
EIA Inventory Data Seems to Bring More Trouble for Oil
In the week ending on May 31, US crude oil inventories were 6% higher than their five-year average.
Oil Prices Fell Due Global Growth Concerns, Trade War
Oil prices fell on June 3, which extended last week’s downward momentum due to an escalation in the trade war.
Oil Fell on Global Growth Concerns as US-China Trade War Escalates
Oil prices tumbled on Monday after the Chinese government announced it would impose tariffs on US imported goods worth $60 billion starting June 1.
Why the United States Imports Oil
Several factors contributed to the rising crude oil exports in 2018.
How Will EIA Data Impact Oil This Week?
On May 8, the EIA (U.S. Energy Information Administration) is scheduled to announce last week’s US crude oil inventory data.
OPEC’s Role in World Oil Production
OPEC (the Organisation of the Petroleum Exporting Countries) aims to “coordinate and unify the petroleum policies of its Member Countries.”
Occidental Petroleum: Analysts’ Ratings before Its Q1 Earnings
Among the 26 analysts tracking Occidental Petroleum (OXY), 62% recommended a “buy,” while 38% recommended a “hold.”
Upstream Stocks Outperformed the Energy Space
In the week ending March 22, upstream stock Denbury Resources (DNR) rose the most among the energy stocks under review in this series.
What’s Noble Energy’s Mean Target Price?
Analysts’ mean target price for Noble Energy (NBL) is ~$32.8, which implies an ~31.5% upside based on its last closing price.
UBS Raises Price Target for ConocoPhillips
Yesterday, UBS increased its price target for ConocoPhillips (COP) by $1 to $70.
Will US Crude Oil Maintain the $54 Level on February 5?
On February 4, US crude oil prices fell 1.3% and settled at $54.56 per barrel. US crude oil active futures made an intraday high of $55.75.
ConocoPhillips: Oil Prices Might Hurt the Cash Flow
For 2019, ConocoPhillips’ total planned capital expenditure was $6.1 billion. The capital expenditure is achievable.
ConocoPhillips’ Earnings Might Fall ~28% in Q4 2018
ConocoPhillips’ (COP) adjusted EPS might fall ~28% in the fourth quarter on a sequential basis based on analysts’ consensus estimate.
Key Oil-Weighted Stocks amid Oil’s Up and Down
On January 16, US crude oil February futures rose 0.4% and closed at $52.31 per barrel, despite bearish EIA inventory data.
Did Trade Talks Impact Oil-Weighted Stocks More than Oil?
In the trailing week, US crude oil active futures rose 12.5%. Occidental Petroleum was the third-largest gainer on our list of oil-weighted stocks.
Oil Wasn’t the Only Catalyst for Oil-Weighted Stocks
The high correlation indicates a stronger positive relationship between oil-weighted stocks and US crude oil prices.
Oil: 2018 Might Be the Worst Year since 2016
So far in 2018, US crude oil prices have fallen 25%. Crude oil prices are in the red on a year-to-date basis for the first time since 2016.
Did Oil-Tracking ETFs Outperform Oil Last Week?
On November 30–December 7, the United States Oil ETF (USO) and the United States 12-Month Oil ETF (USL) rose 3.5% and 4.6%, respectively.
Why Devon Energy Fell in November
In November, Devon Energy (DVN) fell 16.6%—the biggest decline on our list of upstream stocks.
Goldman Sachs: Trump’s Love for Cheap Oil Could Cost Oil Drillers
Jeff Currie, Goldman Sachs’ (GS) commodities’ head, told CNBC that oil’s fall to $50 will hurt US oil producers.
ConocoPhillips: Jim Ratcliffe Eyes Assets in the United Kingdom
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe.
Top Upstream Gainers in the Trailing Week
On November 12–19, upstream stock Concho Resources (CXO) gained the most on our list of upstream energy stocks.
XOP Is Underperforming Other Energy ETFs
On November 12–19, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.6%—the largest decline among major energy ETFs.
ConocoPhillips’ Free Cash Flow Has Strengthened in 2018
ConocoPhillips (COP) has strengthened its FCF (free cash flow) in the past one year.
Will ConocoPhillips Continue to Deliver amid Oil’s Turbulence?
As of November 12, Brent crude oil active futures had fallen 18.3% from their almost four-year high of $86.29 per barrel on October 3.
Upstream Space Might See Upside This Week
On November 2–9, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 0.6%—the least among major energy ETFs.
Upstream Stocks Might Continue to Build on Last Week’s Gains
In the week ending September 28, upstream energy stocks continued their winning streak for the third consecutive week.
What Devon Energy’s Technical Indicators Tell Us
Devon Energy (DVN) continues to trade below its short-term (50-day) moving average.
Devon Energy Fell 8% in September: Can It Regain Upward Momentum?
Devon Energy (DVN) has been sluggish over the past month despite the gains in crude oil and natural gas prices.
Marathon Oil Has Risen ~27% in 2018
Marathon Oil (MRO) has seen a strong rally in the past month. The company has risen ~15% from its lows of $19 in August.
Upstream Stocks Saw Strong Buying Last Week
Upstream energy stocks saw strong buying in the week ending September 14 amid sharp gains in crude oil prices. US crude oil went above $70 per barrel.
Analysts’ Ratings: APC Wins the Most ‘Buy’ Recommendations
Among the four upstream companies we’re looking at in this series, Anadarko Petroleum (APC) has received the most “buy” (82.9%) recommendations from analysts covering the stock.
EOG Sees the Most Institutional Investment among Peers
Capital World Investors added a major position in ConocoPhillips (COP) during the second quarter, buying 19.6 million COP shares for $1.4 billion.
What COP’s, EOG’s, OXY’s, and APC’s Current Valuation Indicates
Anadarko Petroleum (APC) has the lowest forward price-to-CFFO multiple among the selected peers, of 4.9x, which is below its historical average of 7.6x.
Why ConocoPhillips Is Outperforming Peers This Year
US independent upstream companies have been volatile recently.
A Look at the Four Biggest Upstream Companies’ Capex Plans
This year, ConocoPhillips (COP) expects its capital expenditure to rise 30.7% YoY (year-over-year), to $6.0 billion from $4.6 billion.
COP, EOG, OXY, APC: Which Generated the Highest Free Cash Flow?
In the second quarter, ConocoPhillips’s adjusted EBITDAX grew 108.4% YoY (year-over-year), the most among peers.
EOG Sees the Largest Increase in Proven Reserves among Peers
Between 2016 and 2017, ConocoPhillips’ (COP) total proven reserves, including equity affiliates, fell 21.6% to 5,038 MMBoe (million barrels of oil equivalent), of which 47.7% were oil and 39.3% were natural gas.
COP, EOG, OXY, APC: The Largest Independent Upstream Companies
In this series, we’ll compare the four largest independent E&P (exploration and production) players by market capitalization.
EOG Resources Is the Second Least Volatile E&P Stock
EOG Resources (EOG) ranks second among E&P stocks in terms of volatility.
Here Are the Five Least Volatile Exploration & Production Stocks
The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) had a 200-day volatility of 27.6% as of August 29.
Capital World Investors Sold a Major Position in NBL in Q2
So far in this series, we’ve looked at institutional investments in five major oil-weighted E&P (exploration and production) stocks: ConocoPhillips (COP), EOG Resources (EOG), Occidental Petroleum (OXY), Anadarko Petroleum (APC), and Pioneer Natural Resources (PXD).
Capital World Investors Added a Major Position in COP in Q2
Capital World Investors added a major position in ConocoPhillips (COP) during the second quarter, buying 19.6 million COP shares for $1.37 billion.
Crude Oil: Analyzing the Futures Spread
On August 20, US crude oil October futures closed ~$3.1 above the October 2019 futures contract.
Factors Keeping US Crude Oil below the $70 Mark
US crude oil September futures closed at $68.69 per barrel on July 27—the fifth straight closing below $70.00 per barrel.
US Crude Oil Inventories Hit the Low from February 20, 2015
The EIA reported that US crude oil inventories decreased by 6.2 MMbbls (million barrels) to 404.9 MMbbls on July 13–20.
EOG Resources: Pre-Earnings Wall Street Ratings
On July 24, Reuters reported that 26 analysts had given recommendations on EOG Resources (EOG).
Where EOG Stock Could Settle prior to Its Q2 2018 Results
On July 24, EOG Resources had an implied volatility of ~26.4%, lower than its implied volatility of ~27.5% at the end of the second quarter.
Understanding EOG Resources’ Q2 2018 Production Guidance
For the second quarter, EOG Resources expects total production in the range of 670.3–706.2 Mboepd (thousand barrels of oil equivalent per day).
Analyzing EOG Resources’ Q2 2018 Revenue Expectations
For the second quarter, Wall Street analysts expect EOG Resources (EOG) to report revenue of ~$3.91 billion.
Will EOG Resources Report Higher Profits in Q2 2018?
EOG Resources (EOG) is expected to report its second-quarter earnings results after the market closes on August 2.
Which Catalysts Could Push Crude Oil Prices Higher?
The API reported that US crude oil inventories fell by 3.2 MMbbls (million barrels) to 407.6 MMbbls on July 13–20.
Analyzing Marathon Oil’s Dividend and Dividend Yield
MRO paid its last dividend on June 11. The dividend, which was its dividend payment for Q2 2018, was $0.05 per share on its common stock.
What Has Been Driving Apache Stock Lately?
Apache (APA) stock hasn’t risen as much as its peers this year. On a YoY (year-over-year) basis, Apache stock has declined 6.85%.
What Has Deteriorated Oil’s Prospects?
On July 16, US crude oil August futures fell 4.2% and settled at $68.06 per barrel—their lowest closing level since June 21.
Analyzing ConocoPhillips’s Dividend and Dividend Yield
On July 11, ConocoPhillips (COP) announced a dividend of $0.285 per share on its common stock.
The Price of WTI Oil Hits $70 per Barrel: Are the Bulls Back?
US crude oil inventories fell 9.2 MMbbls (million barrels) to 421.4 MMbbls from June 15–22.
Anadarko Petroleum’s Production Forecast for 2018
For 2018, Anadarko Petroleum (APC) provided a production forecast of 658 Mboed–685 Mboed or 671.5 at the mid-point. APC’s production volumes in 2017 were 672 Mboed.
What Could Be Holding Back Apache Stock?
Apache stock (APA) has fallen 6.6% year-over-year driven by lackluster first-quarter earnings and increasing price differentials in the Permian.
Whiting Petroleum’s Improving Cost and Efficiencies in the Bakken
Whiting Petroleum’s well completion costs are expected to fall 25% from $9.1 billion in 2014 to $6.8 billion at the midpoint in 2018.
Rising Permian Production Has Been Straining Price Differentials
The Midland-WTI crude oil price differential and the Waha–Henry Hub natural gas price basis differential have widened since the beginning of 2018.
Analyzing XEC, PXD, FANG, PVAC, and EOG’s Stock Prices
Penn Virginia has risen ~48.2% YoY. EOG Resources and Diamondback Energy have increased ~37% and 33.8%, respectively, during the same period.
Comparing Stocks: COP, OXY, DVN, EOG, and APC
ConocoPhillips (COP) was the outlier among its peers. ConocoPhillips has risen ~50.6% YoY, while Occidental Petroleum has risen ~42% YoY.
Magnolia Oil & Gas to Buy EnerVest’s Eagle Ford Assets
In March, TPG Pace Energy Holdings agreed to acquire oil and gas assets from EnerVest within its South Texas division for ~$2.7 billion.
Why Drilled but Uncompleted Wells Are on the Rise in the Permian
The US Energy Information Administration’s (EIA) March 2018 DPR (“Drilling Productivity Report”) showed that DUC (drilled but uncompleted) wells for the seven major shale regions grew by 110 to 7,601 in February 2018.
EOG Resources’ Stock Movement Trends
We’ll now turn to EOG Resources (EOG)—our third-largest oil and gas producer, based on the fiscal 2017 data.
Stock Comparison: How Have COP, DVN, OXY, APC, and EOG Fared?
Stock performance In this article, we’ll discuss the year-to-date (YTD) stock performance of ConocoPhillips (COP), Devon Energy (DVN), Occidental Petroleum (OXY), Anadarko Petroleum (APC), and EOG Resources (EOG), which reported the highest revenue among upstream companies in fiscal 2017. Outliers and underperformers The above image shows that ConocoPhillips (COP) is the outlier among peers. YoY […]
These Upstream Companies Reported the Highest Revenue in 2017
With the earnings season behind us, let’s look at the top performers in the upstream energy sector across key variables.
Did Institutional Investors Sell EOG Resources in 4Q17?
In 4Q17, 470 funds were “buyers” of EOG Resources (EOG) stock, and 450 funds were “sellers” of EOG stock.
EOG Resources: Post-Earnings Wall Street Ratings
As of March 1, 2018, a total of 34 analysts have made recommendations on EOG Resources (EOG) stock, according to Reuters.
Did EOG Resources Generate Positive Free Cash Flow in 4Q17?
In 4Q17, EOG Resources (EOG) reported operating cash flow of ~$1.3 billion, marginally higher than Wall Street analysts’ expectation.
Why EOG Resources Reported Higher Net Income in 4Q17
EOG Resources (EOG) announced its 4Q17 earnings after the market closed on February 27, 2018.
What Caused Devon Energy’s Revenue Growth in 4Q17?
Devon Energy (DVN) reported 4Q17 revenues of ~$4.0 billion, higher than the Wall Street analyst consensus of ~$3.5 billion.
Understanding EOG Resources’ Production Guidance for 4Q17
For 4Q17, EOG Resources (EOG) expects total production in the range of 628.1 Mboepd–662.2 Mboepd.
Analyzing EOG Resources’ 4Q17 Revenues Expectations
For 4Q17, Wall Street analysts expect EOG Resources (EOG) to report revenues of ~$3 billion.
EOG Resources’ 4Q17 Earnings: Highest Profits in 3 Years?
EOG Resources (EOG) is set to report its 4Q17 and 2017 earnings on February 27, 2018, after the market closes.
Current Mix of Companies Operating in the Eagle Ford
Pioneer Resources has been focusing its efforts in the Permian region while Devon Energy is focusing its attention on its STACK and Delaware Basin acreage.
Analyzing Wall Street’s Targets for COP, EOG, OXY, PXD, and APC
As of December 12, 2017, Reuters reported 21 analysts giving recommendations for ConocoPhillips (COP). Six of them have rated COP a “strong buy.”
Can Investors Relax as Debt Decreases for ConocoPhillips?
As of 3Q17, ConocoPhillips’s (COP) net debt-to-EBITDA ratio is the lowest it has been for the last four quarters.
Are Coal Miners Impacted by Volatility in Crude Oil Prices?
On December 1, 2017, the price of WTI crude oil was $58.36 per barrel. That was 1% below $58.95 per barrel when the market closed on November 24, 2017.
How Lower Crude Oil Prices Could Affect Coal Miners
Crude oil prices On November 17, 2017, WTI (West Texas Intermediate) was at $56.55 per barrel, 0.3% lower than the $56.74 per barrel reported when the market closed on November 10, 2017. On November 17, 2017, Brent crude oil was down 1.3% week-over-week, settling at $62.72 per barrel. Prices fell partially due to doubts on whether […]
Marathon Oil Continued to Fall: What Can Investors Expect?
For the week ending November 17, 2017, Marathon Oil’s (MRO) stock price fell 3.34% or from $15.62 to $15.05.
EOG Resources’ Wall Street Ratings after Its 3Q17 Results
As of November 6, 2017, ~60% of the analysts covering EOG Resources (EOG) stock recommend a “strong buy” or a “buy.”
What’s Causing EOG Resources’ Revenues to Trend Upward?
For 3Q17, EOG Resources (EOG) reported revenues of ~$2.65 billion, which was higher than the Wall Street analyst consensus of ~$2.59 billion.
How EOG Resources Turned a Loss into a Profit
EOG reported better-than-expected profits of ~$111 million in 3Q17. Wall Street analysts were expecting profits of ~$63 million.
Will Pioneer Natural Resources Report Higher Profits in 3Q17?
Pioneer Natural Resources (PXD) is set to report its 3Q17 earnings on November 1, 2017, after the market closes.
How Has EOG’s Drilling Strategy Helped Its Production Volumes?
In 2Q17, EOG Resources (EOG) reported production of ~604 Mboed (thousand barrels of oil equivalent per day).
Are Institutional Investors Bailing on Encana Stock?
In 2Q17, 151 funds were “buyers” of Encana stock, while 144 funds were “sellers.” The total buying funds outnumbered the total selling funds by seven.
Why oil rig counts continue to rise—Granite Wash and Eagle Ford
When the worst of the recession hit, U.S. oil rig counts fell from over 400 to nearly 175.
Why WTI crude oil prices are down over 15% in 3 months
WTI crude oil prices continued to slide as U.S. crude inventories continued to grow, with domestic production surging.
The Short Interest Trends in the Top 5 Upstream Stocks
Compared to its peers, ConocoPhillips (COP) had the highest short interest as a percentage of float, or short interest. As of October 4, 2017, short interest in COP stock was 2.8%.
Implied Volatility of Top 5 Upstream Stocks: What Can We Gauge?
Devon Energy (DVN) has the highest implied volatility among its peers, while Occidental Petroleum (OXY) has the lowest.
Why Crude Oil Prices Drive Marathon Oil Stock
The majority of Marathon Oil’s revenues comes from crude oil and NGL sales. The price of crude oil is thus the key driving factor for MRO stock.
Is EOG Resources’ Crude Oil and Natural Gas Production Rising?
For 2Q17, EOG Resources (EOG) reported production of 603.9 Mboepd (thousand barrels of oil equivalent per day), which is significantly above its 2Q17 production guidance range of 562.2–592.7 Mboepd.
Factors Causing EOG Resources’ Revenues to Trend Upward
For 2Q17, EOG Resources (EOG) reported revenues of ~$2.61 billion, higher than the Wall Street analyst consensus of ~$2.57 billion.