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EOG Resources, Inc. (EOG) - free report >>
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EOG Resources, Inc. (EOG) - free report >>
Murphy USA Inc. (MUSA) - free report >>
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Here's Why EOG Resources (EOG) is a Solid Investment Bet
EOG Resources, Inc. (EOG - Free Report) has witnessed upward earnings estimate revisions for 2023 and 2024 over the past 60 days.
Factors Working in Favor
The price of West Texas Intermediate crude is at more than the $70 per barrel mark again, which is highly favorable for upstream operations. EOG Resources, currently carrying a Zacks Rank #2 (Buy), is well-placed to capitalize on the promising business scenario. It has significant undrilled premium locations, resulting in a brightened production outlook.
EOG Resources is strongly committed to returning capital to shareholders. Since transitioning to premium drilling, the company has returned significant cash to its stockholders. Notably, from 1999 through 2024, the company has committed to raising its regular dividend at a compound annual growth rate of 21%. It has never suspended or lowered its dividend, even during business turmoil, reflecting solid underlying business.
With the employment of premium drilling, EOG will be able to reduce its cash operating costs per barrel of oil equivalent, aiding its bottom line.
Other Stocks to Consider
Other prospective energy companies include Murphy USA Inc. (MUSA - Free Report) , Weatherford International plc (WFRD - Free Report) and Transportadora de Gas del Sur SA (TGS - Free Report) . While Murphy USA sports a Zacks Rank #1 (Strong Buy), Weatherford International and Transportadora de Gas carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is a renowned retailer of gasoline and convenience goods, distinguished by its adaptable business model that effectively enhances profitability during periods of economic expansion and recession. Over the past 30 days, the stock has witnessed upward earnings estimate revisions for this year.
Weatherfordis a key energy player and is engaged in offering exclusive drilling technologies that will maximize clients’ reservoir exposure. Weatherford is also involved in well construction and completion activities in an efficient manner.
Transportadora’s midstream asset portfolio has the most extensive natural gas pipeline network in Latin America. It generates stable fee-based revenues since its pipeline assets transport more than 60% of the gas consumed in Argentina.