Eog Resources Stock Intrinsic Value – EOG RESOURCES Reports Earnings Results for FY2023 Q2 Ending June 30 2023

🌥️Earnings Overview

On August 3 2023, EOG RESOURCES ($NYSE:EOG) reported their financial results for the quarter ending June 30 2023 for FY2023. Total revenue had decreased by 36.8%, to USD 5.5 billion, while net income had decreased by 30.8%, to USD 1.6 billion, compared to the same quarter in the previous year.

Market Price

On Thursday, EOG RESOURCES reported their earnings results for the second quarter of fiscal year 2023, ending June 30, 2023. The company’s stock opened at $130.4, and closed at $131.7, up 1.3% from the prior closing price of $130.0. The positive quarterly report from EOG RESOURCES also drove their stock price up due to strong growth in its oil and gas production. Analysts attributed this growth to their strong portfolio of assets located in North America.

In addition, increased capital spending and a disciplined approach to cost control have contributed to their success. Overall, EOG RESOURCES reported promising results in the second quarter of FY2023, which has investors optimistic about the future of the company. With their strong portfolio of assets and disciplined approach to cost control, they are well positioned to continue to grow in the coming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Eog Resources. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Eog Resources. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Eog Resources. More…

Key Ratios Snapshot

Some of the financial key ratios for Eog Resources are shown below. More…

Analysis – Eog Resources Stock Intrinsic Value

We at GoodWhale have completed an analysis of EOG Resources‘ financials. Our proprietary Valuation Line has calculated the intrinsic value of EOG RESOURCES share to be around $111.1. Currently, EOG RESOURCES stock is traded at $131.7, a price that is overvalued by 18.6%. This means that the stock may be a good buy at its current price, as it is trading at a price that is higher than its intrinsic value. More…

Peers

EOG Resources Inc is an American petroleum and natural gas exploration and production company with operations in the United States, Trinidad, the United Kingdom, and China. One of the largest American independents, its principal business is exploring for, developing, and producing crude oil and natural gas. EOG Resources is organized as a Delaware corporation and is headquartered in Houston, Texas.

The company’s competitors include Ovintiv Inc, Continental Resources Inc, Hess Corp.

– Ovintiv Inc ($TSX:OVV)

Ovintiv Inc is an oil and gas exploration and production company with a market cap of 18.04B as of 2022. The company has a Return on Equity of 33.39%. Ovintiv Inc is engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. The company has operations in the United States, Canada, Europe and South America.

– Continental Resources Inc ($NYSE:CLR)

Continental Resources, Inc. explores, develops, and produces crude oil and natural gas. It operates through the following segments: Bakken, SCOOP Woodford, and Other. The company was founded by Harold Hamm in 1967 and is headquartered in Oklahoma City, OK.

– Hess Corp ($NYSE:HES)

Hess Corporation is an American oil and gas company with operations in the United States, Canada, Equatorial Guinea, the United Kingdom, Indonesia, and Denmark. The company is headquartered in New York City.

Hess has a market cap of $39.94 billion as of 2022 and a return on equity of 29.47%. The company is engaged in the exploration, production, marketing, and refining of crude oil and natural gas. Hess also owns and operates a refinery in St. Croix, U.S. Virgin Islands.

Summary

EOG Resources reported its earnings results for the fiscal year 2023’s second quarter, ending on June 30, 2023, on August 3, 2023. Despite a decrease in total revenue of 36.8%, net income decreased by even more at 30.8%. This is concerning for investors as it is an indication of decreasing profits.

However, investors must take into account the current market conditions as the pandemic has affected many industries. It will be important to pay attention to EOG Resources’ future results and performance to gauge whether the decrease in profits is a short-term trend or a long-term issue. Analysts should also consider the company’s competitive position in order to evaluate whether EOG Resources can sustain its current level of profitability.