EOG Resources Expected to Report Higher Q3 Earnings Thanks to Higher Oil Prices

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Eog Resources Stock Intrinsic Value – EOG ($NYSE:EOG) Resources is one of the leading oil and gas companies in the United States. Oil prices have been on the rise in recent months, and this is likely to have helped EOG Resources‘ earnings. Higher oil prices mean that the company can sell its oil at a higher price, and so its profits are likely to have increased.

This is good news for investors in EOG Resources, as the company is performing well despite some challenges in the oil industry. The company is likely to continue to perform well in the future, thanks to its strong position in the market and its ability to adapt to changes in the oil market.

Earnings

In its most recent earning report for the second quarter of the fiscal year, EOG Resources earned a total of 26.5 billion dollars in revenue and 5.7 billion dollars in net income. This represents a 34.5% increase in total revenue and a 21.3% increase in net income compared to the previous year. These results are thanks in part to the higher oil prices that have been seen in recent months. EOG Resources has seen its total revenue increase from 9.9 billion dollars to 26.5 billion dollars over the last three years thanks to higher oil prices and its efficient operations.

Market Price

On Tuesday, EOG Resources opened at $138.6 and closed at $136.3, down by 0.2% from its last closing price of 136.5. EOG Resources is one of the largest independent oil and gas companies in the United States. The company is engaged in the exploration, development, production, and marketing of crude oil and natural gas. EOG Resources has operations in the United States, Canada, Trinidad and Tobago, the United Kingdom, and China.

The company’s stock has been on a roll in recent months, thanks to higher oil prices. The company’s stock is a good bet for investors looking to profit from the rising oil prices.

VI Analysis – Eog Resources Stock Intrinsic Value

EOG Resources, Inc. is an American petroleum and natural gas exploration and production company headquartered in Houston, Texas. The company is ranked #1 in crude oil and condensate reserves and production growth in the United States. The company’s operations are focused in the United States, Canada, the United Kingdom, Trinidad and Tobago, and China. The company’s fundamentals reflect its long term potential.

The fair value of EOG Resources, Inc. shares is around $115.8, calculated by VI Line. Now EOG Resources, Inc. stock is traded at $136.3, a fair price overvalued by 18%.

VI 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

Investing in EOG Resources could be a good idea for investors who are looking to profit from higher oil prices. The company is one of the largest producers of oil and natural gas in the United States, and it has a large presence in some of the most prolific oil-producing regions in the country, including the Bakken Shale and the Eagle Ford Shale. EOG Resources is also one of the few publicly traded companies that is majority-owned by a single individual, CEO and Chairman William R. Given Greehey’s experience in the oil and gas industry and his significant ownership stake in the company, investors can be reasonably confident that he is focused on creating shareholder value.