Tearsheet

EOG Resources (EOG)

Market Price (12/18/2025): $104.8 | Market Cap: $56.7 Bil
Sector: Energy | Industry: Oil & Gas Exploration & Production

EOG Resources (EOG)

Market Price (12/18/2025): $104.8
Market Cap: $56.7 Bil
Sector: Energy
Industry: Oil & Gas Exploration & Production

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.5%, FCF Yield is 6.4%	Weak multi-year price returns 2Y Excs Rtn is -47%, 3Y Excs Rtn is -73%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.6%, Rev Chg QQuarterly Revenue Change % is -2.3%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 10 Bil, FCF LTM is 3.9 Bil		Key risks EOG key risks include [1] commodity price volatility, Show more.
2	Low stock price volatility Vol 12M is 29%
3	Megatrend and thematic drivers Megatrends include US Energy Independence, and Energy Transition & Decarbonization. Themes include US LNG, US Oilfield Technologies, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.5%, FCF Yield is 6.4%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 10 Bil, FCF LTM is 3.9 Bil
2	Low stock price volatility Vol 12M is 29%
3	Megatrend and thematic drivers Megatrends include US Energy Independence, and Energy Transition & Decarbonization. Themes include US LNG, US Oilfield Technologies, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -47%, 3Y Excs Rtn is -73%
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.0%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.6%, Rev Chg QQuarterly Revenue Change % is -2.3%
6	Key risks EOG key risks include [1] commodity price volatility, Show more.

Valuation, Metrics & Events

	12/18/25	2024	2023	2022	2021
Share Price CYE	$104.80	$118.48	$113.60	$115.94	$73.90
Market Cap CYE ($ Bil)	56.7	66.0	66.0	67.6	43.2
Total Debt ($ Bil)	8.1	5.1	4.1	5.4	5.3
Total Cash ($ Bil)	3.5	7.1	5.3	6.0	5.2
Enterprise Value ($ Bil)	61.3	71.1	70.1	73.0	48.5
Valuation Ratios
P/S TTM	2.7	2.97	3.03	2.56	2.62
P/EBIT TTM	8.3	8.30	7.14	7.49	8.45
P/E TTM	11.0	10.84	9.25	9.73	11.07
Sector Ratios
P/S TTM (Sector)	1.34	1.50	1.51	1.24	1.28
P/EBIT TTM (Sector)	7.59	6.73	5.34	4.04	4.74
P/E TTM (Sector)	10.97	10.14	8.30	5.44	5.10

	12/18/25	2024	2023
Share Price CYE	$104.80	$118.48	$113.60
Market Cap CYE ($ Bil)	56.7	66.0	66.0
Total Debt ($ Bil)	8.1	5.1	4.1
Total Cash ($ Bil)	3.5	7.1	5.3
Enterprise Value ($ Bil)	61.3	71.1	70.1
Valuation Ratios
P/S TTM	2.7	2.97	3.03
P/EBIT TTM	8.3	8.30	7.14
P/E TTM	11.0	10.84	9.25
Sector Ratios
P/S TTM (Sector)	1.34	1.50	1.51
P/EBIT TTM (Sector)	7.59	6.73	5.34
P/E TTM (Sector)	10.97	10.14	8.30

	EOG	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	22.6
Rev Chg Q	-2.3%	7.3%
Rev Chg LTM	-5.0%	6.0%
Rev Chg 3Y Avg	-7.6%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	7.5
CFO LTM ($ Bil)	10.2
Net Inc LTM ($ Bil)	5.5
Op Mgn LTM	33.4%	18.8%
CFO/Rev LTM	45.2%	20.4%
Net Inc Mgn	24.5%	13.1%
VALUATION	MODERATE
P/S	2.7	3.2
P/CFO	6.0	16.0
P/FCF	15.6	20.7
P/E	11.0	23.5
STABILITY	GOOD
Debt/Equity	0.13	0.21
Cash/Assets	0.07	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Total Proved Reserves	4.7 billion barrels of oil equivalent	12312024	Link
Average Daily Crude Oil and Condensate Production	504.2 thousand barrels per day	6302025	Link
Average Daily Natural Gas Liquids (NGLs) Production	258.4 thousand barrels per day	6302025	Link
Average Daily Natural Gas Production	2,229 million cubic feet per day	6302025	Link
Average Daily Total Crude Oil Equivalent Production	1,134.1 thousand barrels of oil equivalent per day	6302025	Link
Finding and Development Cost (excluding price revisions)	$6.68 per barrel of oil equivalent	12312024	Link
Proved Developed Finding Cost (excluding price revisions, Non-GAAP)	$8.04 per barrel of oil equivalent	12312024	Link

Upcoming
1/16/2026	Dividend	Amount: $1.02 Payment On: 1/30/2026
2/26/2026	Earnings Release	Rev: - EPS: -

EOG Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points explaining the approximate -15.3% stock movement for EOG Resources (EOG) from August 31, 2025, to December 18, 2025:

1. Mixed Third Quarter 2025 Earnings Report: EOG Resources reported adjusted earnings per share (EPS) of $2.71 for the third quarter of 2025, which surpassed analyst estimates. However, the company's total quarterly revenues of $5.85 billion missed consensus estimates of $5.95 billion and also declined from the previous year's quarter. This mixed performance, particularly the revenue miss and increased operating expenses, led to a cautious market reaction.

2. Declining Crude Oil Prices: During this period, global crude oil prices experienced significant downward pressure. Brent crude futures slipped, and further declines were observed in mid-December 2025 due to ongoing concerns about market oversupply and weakening global demand. Forecasts also indicated a continued downward trend for oil prices into the first quarter of 2026.

3. Weakening Natural Gas Prices: Natural gas spot and futures prices also saw considerable declines in the latter half of 2025. The Henry Hub natural gas spot price fell significantly, retreating from a 10-month high average in early December, and European natural gas prices also experienced substantial drops. The U.S. Energy Information Administration (EIA) revised its forecast for 2025 Henry Hub natural gas spot prices downward.

4. Analyst Downgrades and Price Target Reductions: Several financial analysts downgraded EOG Resources' stock or reduced their price targets during this timeframe. Notably, BMO Capital Markets cut its price target from $130 to $126, and JPMorgan Chase & Co. reduced its price objective from $131 to $121, changing its rating to "neutral" in December 2025. Argus also downgraded EOG from a "buy" to a "hold" rating in August 2025. These revisions contributed to a more cautious outlook for the stock, with EOG reaching a new 52-week low on December 16, 2025.

5. Increased Operating Costs and Debt from Encino Acquisition: While the acquisition of Encino Acquisition Partners for $5.7 billion was considered a strategic move to enhance EOG's asset portfolio, it contributed to higher operating expenses. The company reported increased lease and well expenses, gathering, processing, and transportation costs, and exploration costs in the third quarter of 2025. Furthermore, EOG issued $3.5 billion in senior notes to finance this acquisition, leading to an increase in its long-term debt.

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Stock Movement Drivers

Fundamental Drivers

The -11.8% change in EOG stock from 9/17/2025 to 12/17/2025 was primarily driven by a -8.9% change in the company's P/E Multiple.

	9172025	12172025	Change
Stock Price ($)	118.70	104.74	-11.76%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	22712.00	22579.00	-0.59%
Net Income Margin (%)	25.24%	24.49%	-2.96%
P/E Multiple	11.24	10.25	-8.87%
Shares Outstanding (Mil)	543.00	541.00	0.37%
Cumulative Contribution			-11.76%

LTM = Last Twelve Months as of date shown

Market Drivers

9/17/2025 to 12/17/2025

	Return	Correlation
EOG	-11.8%
Market (SPY)	1.9%	21.8%
Sector (XLE)	0.4%	82.4%

Fundamental Drivers

The -13.9% change in EOG stock from 6/18/2025 to 12/17/2025 was primarily driven by a -6.9% change in the company's P/E Multiple.

	6182025	12172025	Change
Stock Price ($)	121.60	104.74	-13.86%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	23386.00	22579.00	-3.45%
Net Income Margin (%)	25.99%	24.49%	-5.75%
P/E Multiple	11.01	10.25	-6.89%
Shares Outstanding (Mil)	550.00	541.00	1.64%
Cumulative Contribution			-13.89%

LTM = Last Twelve Months as of date shown

Market Drivers

6/18/2025 to 12/17/2025

	Return	Correlation
EOG	-13.9%
Market (SPY)	12.7%	18.2%
Sector (XLE)	3.4%	85.9%

Fundamental Drivers

The -12.0% change in EOG stock from 12/17/2024 to 12/17/2025 was primarily driven by a -18.5% change in the company's Net Income Margin (%).

	12172024	12172025	Change
Stock Price ($)	119.03	104.74	-12.01%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	23758.00	22579.00	-4.96%
Net Income Margin (%)	30.05%	24.49%	-18.50%
P/E Multiple	9.40	10.25	8.98%
Shares Outstanding (Mil)	564.00	541.00	4.08%
Cumulative Contribution			-12.15%

LTM = Last Twelve Months as of date shown

Market Drivers

12/17/2024 to 12/17/2025

	Return	Correlation
EOG	-12.0%
Market (SPY)	12.1%	53.7%
Sector (XLE)	6.8%	89.2%

Fundamental Drivers

The -7.0% change in EOG stock from 12/18/2022 to 12/17/2025 was primarily driven by a -21.9% change in the company's Total Revenues ($ Mil).

	12182022	12172025	Change
Stock Price ($)	112.59	104.74	-6.97%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	28906.00	22579.00	-21.89%
Net Income Margin (%)	25.83%	24.49%	-5.19%
P/E Multiple	8.79	10.25	16.57%
Shares Outstanding (Mil)	583.00	541.00	7.20%
Cumulative Contribution			-7.45%

LTM = Last Twelve Months as of date shown

Market Drivers

12/18/2023 to 12/17/2025

	Return	Correlation
EOG	-8.3%
Market (SPY)	44.9%	41.1%
Sector (XLE)	12.6%	87.2%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
EOG Return	-39%	89%	57%	-2%	4%	-14%	59%
Peers Return	�	�	71%	-5%	-15%	-2%	�
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
EOG Win Rate	33%	75%	67%	50%	58%	58%
Peers Win Rate	�	76%	58%	50%	38%	60%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
EOG Max Drawdown	-64%	-0%	0%	-20%	-9%	-14%
Peers Max Drawdown	�	�	0%	-20%	-23%	-25%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: COP, FANG, DVN, OXY, APA. See EOG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	EOG	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.8%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	53.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	116 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-66.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	200.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	569 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-51.3%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	105.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	950 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-68.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	214.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,592 days	1,480 days

Compare to COP, CNQ, OKE, EPM, BSM

In The Past

EOG Resources's stock fell -34.8% during the 2022 Inflation Shock from a high on 6/7/2022. A -34.8% loss requires a 53.4% gain to breakeven.

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About EOG Resources (EOG)

EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.

AI Generated Analysis | Feedback

Here are 1-2 brief analogies for EOG Resources:

EOG is like ExxonMobil or Chevron for U.S. oil and natural gas extraction, but focused purely on the drilling and production.
Think of EOG as the upstream (drilling and production) division of a supermajor like ExxonMobil or Chevron, operating as its own large, independent company.

AI Generated Analysis | Feedback

Crude Oil: EOG produces crude oil, a fossil fuel extracted from the earth, which is refined into various petroleum products.
Natural Gas: The company extracts natural gas, a gaseous fossil fuel primarily used for heating, electricity generation, and industrial purposes.
Natural Gas Liquids (NGLs): EOG also produces NGLs, which are components of natural gas that are separated and used as petrochemical feedstocks or blended into gasoline.

AI Generated Analysis | Feedback

EOG Resources (EOG) is an independent exploration and production (E&P) company that primarily sells crude oil, natural gas, and natural gas liquids (NGLs). As such, EOG sells primarily to other companies rather than directly to individuals. EOG's customer base is diversified, consisting of various purchasers in the midstream and downstream sectors of the energy industry. No single customer typically accounts for 10% or more of EOG's total revenues. Based on the types of products EOG sells and the industry structure, its major customers fall into the following categories. Below are examples of public companies that operate in these sectors and are likely to be customers of EOG or similar E&P companies:

Crude Oil, Condensate, and NGLs Purchasers: These are primarily refiners, crude oil and NGL marketers, gatherers, and processors.
- Marathon Petroleum Corporation (NYSE: MPC)
- Valero Energy Corporation (NYSE: VLO)
- Phillips 66 (NYSE: PSX)
- Enterprise Products Partners L.P. (NYSE: EPD)
- Energy Transfer LP (NYSE: ET)
Natural Gas Purchasers: These include natural gas pipeline companies, utilities (local distribution companies), and large industrial users.
- Kinder Morgan, Inc. (NYSE: KMI)
- The Williams Companies, Inc. (NYSE: WMB)
- Vistra Corp. (NYSE: VST) (as a major power generator, may purchase natural gas)

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Baker Hughes (NASDAQ: BKR)
Halliburton (NYSE: HAL)
Helmerich & Payne (NYSE: HP)
NOV Inc. (NYSE: NOV)
Patterson-UTI Energy (NASDAQ: PTEN)
Schlumberger (NYSE: SLB)

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Ezra Y. Yacob, Chairman and Chief Executive Officer

Mr. Yacob has been the Chairman and Chief Executive Officer of EOG Resources since October 2022. He joined the company in August 2005 and has held various geoscience and leadership positions, including President from January 2021 to September 2021, Executive Vice President for the Exploration and Production business from 2017 to 2021, and Vice President and General Manager in Midland from 2014 to 2017. He also served as Division Exploration Manager in Midland from 2013 to 2014 and for the Fort Worth business from 2012 to 2013.

Ann D. Janssen, Executive Vice President and Chief Financial Officer

Ms. Janssen became the Chief Financial Officer and Executive Vice President of EOG Resources in January 2024. She joined a predecessor of EOG in 1995. Prior to her current role, she served as Senior Vice President and Chief Accounting Officer since February 2018, Vice President, Accounting from 2007 to 2018, Controller of Financial Reporting and Planning from 2002 to 2007, and Treasurer from 1999 to 2002. Ms. Janssen holds a Bachelor of Business Administration degree in Accounting from Texas A&M University and is a Certified Public Accountant.

Jeffrey R. Leitzell, Executive Vice President and Chief Operating Officer

Mr. Leitzell has been the Executive Vice President and Chief Operating Officer of EOG Resources since December 2023. He joined EOG as a Completions Engineer in 2008 and previously held roles such as Operations Manager of the Midland office from 2015 to 2017, and Executive Vice President of Exploration and Production and Vice President and General Manager of the Midland office.

Michael P. Donaldson, Executive Vice President, General Counsel and Corporate Secretary

Mr. Donaldson serves as Executive Vice President, General Counsel and Corporate Secretary for EOG Resources. He has held the position of Corporate Secretary since May 2012.

Sandeep Bhakhri, Senior Vice President and Chief Information and Technology Officer

Mr. Bhakhri has been the Senior Vice President and Chief Information and Technology Officer of EOG Resources since April 2017. He joined a predecessor of EOG in 1992 and served as Vice President and Chief Information Officer from 1995 to 2017. Prior to joining EOG, Mr. Bhakhri managed development teams for McDermott Marine Construction Company.

AI Generated Analysis | Feedback

EOG Resources faces several key risks inherent to the oil and natural gas exploration and production industry. The most significant risk to EOG Resources' business is **commodity price volatility**. Fluctuations in the prices of crude oil, natural gas, and natural gas liquids (NGLs) directly and significantly impact the company's revenue and profitability. A sustained drop in these commodity prices can severely affect the company's top line, despite its position as a low-cost producer. This volatility is considered the single greatest factor influencing EOG's revenue predictability. Another substantial risk is **regulatory and environmental changes**. The oil and gas industry is subject to stringent regulatory and environmental standards. Changes in legislation, such as new emissions-related laws and regulations or evolving climate change policies, can lead to increased compliance costs, operational constraints, and may limit growth opportunities for EOG Resources. Finally, **geopolitical factors and potential supply chain disruptions** pose a risk to the business. Geopolitical instability and political conditions in regions where EOG operates can disrupt its operations and supply chains. Additionally, delays in obtaining necessary equipment, materials, or services can impact the company's ability to execute projects on time and within budget.

AI Generated Analysis | Feedback

The rapidly accelerating adoption of electric vehicles (EVs) and increasingly cost-competitive renewable energy sources (such as solar and wind power) directly threaten EOG Resources by reducing global demand for crude oil in transportation and natural gas in power generation.

AI Generated Analysis | Feedback

EOG Resources (symbol: EOG) is an independent upstream oil and gas company primarily focused on the exploration, development, and production of crude oil, natural gas liquids (NGLs), and natural gas. The company's main operations are concentrated in the United States, with some international presence in areas such as Trinidad and Tobago.

The addressable markets for EOG Resources' main products are substantial, primarily within North America and the United States:

Crude Oil: The United States is a leading global producer of crude oil. U.S. crude oil production reached approximately 13.651 million barrels per day (bpd) by the end of October 2025. In 2024, the U.S. crude oil production was 13.4 million barrels per day, projected to expand to an average of 13.5 million bpd in 2025. Globally, the crude oil market was valued at USD 755.3 billion in 2024 and is expected to reach approximately USD 929.8 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 2.1%. North America holds a strong market presence within this global market.
Natural Gas: The North American natural gas market was valued at USD 435.26 billion in 2024 and is projected to grow to USD 622.63 billion by 2030, at a CAGR of 6.15%. Specifically for the U.S., the natural gas market was valued at USD 454.5 billion in 2024 and is anticipated to increase to USD 577.9 billion by 2032, advancing at a CAGR of 3.2%. U.S. dry natural gas production is forecast to reach a record annual average of 105.2 billion cubic feet per day in 2025.
Natural Gas Liquids (NGLs): NGLs are extracted during the processing of natural gas. While specific market values for NGLs are often integrated into broader oil and gas market reports, U.S. production of NGLs significantly increased from 1.74 million barrels per day in 2005 to 2.96 million barrels per day in 2014. The market size for NGLs is generally encompassed within the overall crude oil and natural gas markets, particularly in the upstream sector where EOG operates.

AI Generated Analysis | Feedback

EOG Resources (NYSE: EOG) is expected to drive future revenue growth over the next 2-3 years through a combination of increased production volumes, enhanced operational efficiency, strategic acquisitions, and international market expansion. Here are the key drivers: * Increased Production Volumes: EOG Resources has demonstrated a consistent focus on growing its production of crude oil, natural gas, and natural gas liquids (NGLs). The company's Q3 2025 results showed that oil, gas, and NGL volumes all exceeded the midpoint of their forecast ranges, contributing significantly to revenue surpassing expectations. Crude oil and condensate sales volumes increased by 8.4% year-over-year in Q3 2025, NGLs sales volume rose 22%, and natural gas sales volumes saw a significant increase of 39% year-over-year. EOG's capital program is designed to support continued modest production gains from its extensive multi-basin portfolio, which includes significant acreage in the Permian Basin and Eagle Ford. * Operational Efficiency and Cost Management: EOG's commitment to being a low-cost producer and its robust operational achievements are expected to enhance profitability and, by extension, support revenue growth. The company's operational efficiency, combined with lower-than-anticipated per-unit cash operating costs and depreciation, depletion, and amortization (DD&A) expenses, has been a key driver of financial success. EOG aims for a low single-digit percentage reduction in costs, which supports stronger financial performance even amidst fluctuating commodity prices. * Strategic Acquisitions: The company's strategic acquisition of Encino for $5.6 billion in cash significantly bolsters its presence in the Utica shale region, adding 675,000 acres to EOG's portfolio and increasing its production. This acquisition is anticipated to be financially accretive, with estimates suggesting a 10% increase to 2025 pro-forma EBITDA and a 9% boost to cash flow and free cash flow, thereby contributing to future revenue. * International Market Expansion: EOG Resources has ventured into international markets with new operations in Bahrain and the United Arab Emirates. These strategic moves signal the company's commitment to diversification and growth on a global scale, opening new avenues for revenue generation beyond its established U.S. shale plays.

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Share Repurchases

EOG Resources repurchased $3.2 billion of shares in 2024.
In 2023, the company repurchased $971 million in shares.
As of the third quarter of 2025, EOG had $4.0 billion remaining on its share buyback authorization.

Outbound Investments

In May 2025, EOG acquired Encino Acquisition Partners for $5.6 billion, including debt, expanding its presence in the Utica shale by 675,000 net core acres. This acquisition was funded through $3.5 billion of debt and $2.1 billion of cash on hand.
EOG made a $275 million bolt-on acquisition in the Eagle Ford, adding 30,000 acres to its portfolio.
The company entered a strategic participation agreement with Bapco Energies in Bahrain to evaluate a natural gas exploration prospect with planned drilling in 2025, and is expanding its international presence with a 900,000-acre concession in the UAE.

Capital Expenditures

Capital expenditures were $3.465 billion in 2020, $3.85 billion in 2021, $5.0 billion in 2022, $6.185 billion in 2023, and peaked at $6.372 billion in 2024.
For 2025, total capital expenditures are expected to range from $6.2 billion to $6.4 billion, a revised outlook after the Encino acquisition.
The primary focus of capital expenditures includes maintaining activity in the Delaware Basin, increasing activity in the Utica and Dorado plays, and funding strategic infrastructure projects and international exploration in Trinidad and Bahrain.

Interactive Breakdown

EOG Resources Interactive Breakdown Analysis

Better Bets than EOG Resources (EOG)

	EOG	Better Performance than EOG
Metric	Value	INDUSTRY: Oil & Gas Exploration & Production
Rev Chg LTM	-5.0%	EQT (64.8%), FANG (60.1%), CNQ (8.3%), COP (8.2%), OXY (-2.0%)
Rev Chg 3Y Avg	-7.6%	FANG (20.8%), DVN (-2.1%), CNQ (-2.4%), EQT (-2.8%), COP (-6.6%)
Op Mgn LTM	33.4%	TPL (75.8%), PR (39.1%), EQT (37.0%), FANG (36.5%), MTDR (35.3%)
CFO/Rev LTM	45.2%	TPL (72.3%), PR (68.9%), EQT (60.3%), FANG (57.3%), CTRA (51.9%)
FCF/Rev LTM	17.2%	EQT (31.6%), TPL (30.5%), AR (24.2%), CTRA (20.4%), CNQ (18.2%)
Total Yield	12.6%	CNQ (17.1%), DVN (15.1%), PR (13.6%), FANG (12.9%), CTRA (12.8%)
P/S	2.7	DVN (1.3), CNQ (1.5), OXY (1.8), COP (2.0), EXE (2.3)
P/Op Inc	8.0	PR (4.5), OVV (5.0), DVN (5.6), CNQ (7.4), FANG (7.4)

	EOG	Better Performance than EOG
Metric	Value	SECTOR: Energy
Rev Chg LTM	-5.0%	ENB (32.3%), WMB (9.0%), COP (8.2%), CVX (-3.6%), XOM (-4.4%)
Rev Chg 3Y Avg	-7.6%	ENB (8.6%), WMB (0.8%), XOM (-5.6%), CVX (-6.2%), COP (-6.6%)
Op Mgn LTM	33.4%	TRP (43.1%), VG (37.2%), LNG (37.2%), FANG (36.5%), WMB (34.3%)
CFO/Rev LTM	45.2%	EQT (60.3%), FANG (57.3%), TRP (51.4%), WMB (48.2%), VG (47.3%)
FCF/Rev LTM	17.2%	PBA (31.7%), EQT (31.6%), TPL (30.5%), CCJ (28.1%), CNQ (18.2%)
Total Yield	12.6%	CNQ (17.1%), SU (15.9%), DVN (15.1%), FANG (12.9%), ENB (12.9%)
P/S	2.7	XOM (1.5), CNQ (1.5), CVX (1.6), ENB (1.7), COP (2.0)
P/Op Inc	8.0	SU (6.4), LNG (7.3), CNQ (7.4), FANG (7.4), OKE (7.8)

	EOG	Better Performance than EOG
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-5.0%	NVDA (65.2%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	-7.6%	NVDA (91.6%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	33.4%	NVDA (58.8%), MSFT (46.3%), META (43.2%), LLY (43.0%), AVGO (39.0%)
CFO/Rev LTM	45.2%	V (57.6%), META (56.8%), MA (56.1%), MSFT (50.0%), PLTR (46.6%)
FCF/Rev LTM	17.2%	NVDA (41.3%), MSFT (26.6%), META (23.7%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	12.6%	CMCSA (23.8%), VZ (16.8%), TD (15.1%), PFE (13.5%), MRK (13.0%)
P/S	2.7	UNH (0.7), WMT (1.2), COST (1.5), HD (2.1), RTX (2.6)
P/Op Inc	8.0	CMCSA (5.2), VZ (5.9), GM (7.1), BUD (7.7), BMY (8.0)

		Best Bets In Energy Sector
	EOG	TPL	AM	MGY	INSW	DTM	CTRA	WHD	EQT	CRC	LNG
What You Pay
P/E	11.0	45.0	19.7	12.9	10.5	28.5	11.0	15.7	19.1	11.6	12.9
P/EBIT	8.3	36.7	11.1	9.6	8.9	16.0	8.1	10.6	10.9	7.1	7.2
What You Get
Rev Chg Q	-2.3%	17.0%	8.7%	-2.5%	-12.8%	26.6%	33.7%	-10.0%	49.8%	-11.9%	18.0%
Rev Chg LTM	-5.0%	12.5%	8.7%	0.7%	-23.6%	20.4%	25.1%	-3.8%	64.8%	33.9%	17.8%
Rev Chg 3Y Avg	-7.6%	5.7%	9.0%	-6.6%	16.7%	9.6%	-5.3%	22.9%	-2.8%	5.3%	-12.4%
FCF/Rev 3Y Avg	22.1%	47.9%	46.6%	33.7%	29.6%	25.8%	24.8%	23.5%	23.5%	22.0%	20.8%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	EOG Resources Earnings Notes
2	Would You Still Hold EOG Resources Stock If It Fell Another 30%?	Return
3	EOG Resources vs Cheniere Energy: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	EOG Resources vs Diamondback Energy: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	How Does EOG Resources Stock Stack Up Against Its Peers?	Peer Comparison
6	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From UNH, SLB
7	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From SLB, FANG
8	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From FANG, PR
9	EOG Dip Buy Analysis
10	EOG Resources Total Shareholder Return (TSR): 7.8% in 2024 and 22.1% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	S&P 500 Stocks Trading At 52-Week Low		December 17th, 2025
13	S&P 500 Stocks Trading At 52-Week Low		December 17th, 2025
14	EOG Fell 8.4% In A Month. What To Do Now?		October 3rd, 2025
15	Time To Buy EOG Resources Stock?		June 25th, 2025
16	What’s Next For EOG’s Stock?		December 20th, 2024

	Title
0	DASHBOARDS
1	EOG Resources Earnings Notes
2	Would You Still Hold EOG Resources Stock If It Fell Another 30%?
3	EOG Resources vs Cheniere Energy: Which Is A Better Investment?
4	EOG Resources vs Diamondback Energy: Which Is A Better Investment?
5	How Does EOG Resources Stock Stack Up Against Its Peers?
6	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From UNH, SLB
7	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From SLB, FANG
8	Better Bet Than EOG Stock: Pay Less Than EOG Resources To Get More From FANG, PR
9	EOG Dip Buy Analysis
10	EOG Resources Total Shareholder Return (TSR): 7.8% in 2024 and 22.1% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	S&P 500 Stocks Trading At 52-Week Low
13	S&P 500 Stocks Trading At 52-Week Low
14	EOG Fell 8.4% In A Month. What To Do Now?
15	Time To Buy EOG Resources Stock?
16	What’s Next For EOG’s Stock?

Trade Ideas

Select past ideas related to EOG. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.8%	6.8%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.4%	4.4%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.5%	4.5%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	24.5%	24.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-7.1%	-7.1%	-7.1%
EOG_1312020_Dip_Buyer_FCFYield	01312020	EOG	EOG Resources	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-34.7%	-27.8%	-59.2%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.8%	6.8%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.4%	4.4%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.5%	4.5%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	24.5%	24.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-7.1%	-7.1%	-7.1%
EOG_1312020_Dip_Buyer_FCFYield	01312020	EOG	EOG Resources	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-34.7%	-27.8%	-59.2%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	282.6%	459.2%
WVE	WAVE Life Sciences	2.7	128.5%	32.1%
ALMS	Alumis	0.8	89.8%	34.6%
NUVB	Nuvation Bio	2.9	82.4%	220.3%
SEMR	SEMrush	1.8	75.7%	-0.2%
TE	T1 Energy	0.8	70.4%
ANF	Abercrombie & Fitch	5.6	68.4%	-21.6%
CBLL	CeriBell	0.8	67.5%	-16.6%
FTRE	Fortrea	1.5	65.4%	-13.2%
VERA	Vera Therapeutics	3.1	64.7%	14.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.3%	-85.2%
RZLT	Rezolute	0.2	-80.3%	-59.0%
JANX	Janux Therapeutics	0.9	-50.9%	-73.7%
FRMI	Fermi	6.3	-50.6%
AGIO	Agios Pharmaceuticals	1.5	-43.6%	-22.6%
IMSR	Terrestrial Energy	0.7	-38.9%
LENZ	LENZ Therapeutics	0.5	-36.3%	-43.3%
LWLG	Lightwave Logic	0.4	-36.3%	41.4%
UAMY	United States Antimony	0.5	-33.7%	156.5%
BETR	Better Home & Finance	0.5	-33.6%	292.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

Peer Comparisons for EOG Resources

Peers to compare with:

Financials

	EOG	COP	FANG	DVN	OXY	APA	Median
Name	EOG Reso.	ConocoPh.	Diamondb.	Devon En.	Occident.	APA
Mkt Price	104.74	94.96	154.07	36.95	40.63	24.63	67.80
Mkt Cap	56.7	118.2	44.5	23.2	46.6	8.8	45.6
Rev LTM	22,579	59,788	15,284	17,470	26,601	9,641	20,024
Op Inc LTM	7,539	12,549	5,584	3,958	4,802	2,947	5,193
FCF LTM	3,891	7,088	-1,094	2,818	3,799	1,903	3,308
FCF 3Y Avg	5,167	8,910	-1,966	1,677	5,046	1,273	3,361
CFO LTM	10,195	19,935	8,756	6,841	11,254	4,773	9,476
CFO 3Y Avg	11,453	20,720	6,730	6,744	11,873	3,966	9,098

Growth & Margins

	EOG	COP	FANG	DVN	OXY	APA	Median
Name	EOG Reso.	ConocoPh.	Diamondb.	Devon En.	Occident.	APA
Rev Chg LTM	-5.0%	8.2%	60.1%	11.4%	-2.0%	4.9%	6.6%
Rev Chg 3Y Avg	-7.6%	-6.6%	20.8%	-2.1%	-9.6%	-3.1%	-4.8%
Rev Chg Q	-2.3%	15.3%	48.2%	7.6%	-7.7%	-16.4%	2.7%
QoQ Delta Rev Chg LTM	-0.6%	3.4%	9.1%	1.8%	-2.0%	-4.1%	0.6%
Op Mgn LTM	33.4%	21.0%	36.5%	22.7%	18.1%	30.6%	26.6%
Op Mgn 3Y Avg	36.4%	24.1%	46.8%	28.3%	21.5%	35.3%	31.8%
QoQ Delta Op Mgn LTM	-0.8%	-1.0%	-1.3%	-1.7%	-2.0%	-0.8%	-1.1%
CFO/Rev LTM	45.2%	33.3%	57.3%	39.2%	42.3%	49.5%	43.7%
CFO/Rev 3Y Avg	49.0%	35.6%	62.5%	41.8%	42.8%	43.2%	43.0%
FCF/Rev LTM	17.2%	11.9%	-7.2%	16.1%	14.3%	19.7%	15.2%
FCF/Rev 3Y Avg	22.1%	15.3%	-18.6%	10.2%	18.1%	13.8%	14.6%

Valuation

	EOG	COP	FANG	DVN	OXY	APA	Median
Name	EOG Reso.	ConocoPh.	Diamondb.	Devon En.	Occident.	APA
Mkt Cap	56.7	118.2	44.5	23.2	46.6	8.8	45.6
P/S	2.7	2.0	2.7	1.3	1.8	0.9	1.9
P/EBIT	8.3	8.1	6.9	5.4	-	2.8	6.9
P/E	11.0	13.3	9.9	8.1	22.2	5.7	10.4
P/CFO	5.9	5.9	4.7	3.2	4.1	1.8	4.4
Total Yield	12.6%	10.8%	12.9%	15.1%	4.5%	21.6%	12.8%
Dividend Yield	3.5%	3.3%	2.7%	2.8%	0.0%	4.2%	3.0%
FCF Yield 3Y Avg	7.6%	6.9%	-5.2%	6.5%	-	13.2%	6.9%
D/E	0.1	0.2	0.4	0.4	-	0.5	0.4
Net D/E	0.1	0.1	0.4	0.3	-	0.5	0.3

Returns

	EOG	COP	FANG	DVN	OXY	APA	Median
Name	EOG Reso.	ConocoPh.	Diamondb.	Devon En.	Occident.	APA
1M Rtn	-4.3%	7.0%	5.3%	6.0%	-2.0%	1.0%	3.1%
3M Rtn	-11.8%	2.2%	10.4%	5.0%	-13.4%	3.1%	2.6%
6M Rtn	-13.9%	3.0%	5.0%	10.0%	-9.4%	24.3%	4.0%
12M Rtn	-12.0%	-0.0%	-1.1%	18.1%	-10.8%	23.2%	-0.5%
3Y Rtn	-7.0%	-4.4%	30.0%	-30.6%	-31.7%	-37.2%	-18.8%
1M Excs Rtn	-5.1%	6.3%	4.5%	5.3%	-2.7%	0.3%	2.4%
3M Excs Rtn	-12.0%	1.2%	9.0%	4.9%	-15.1%	2.9%	2.0%
6M Excs Rtn	-26.2%	-9.4%	-7.4%	-2.4%	-21.8%	11.9%	-8.4%
12M Excs Rtn	-25.6%	-13.8%	-14.1%	1.0%	-23.9%	2.4%	-14.0%
3Y Excs Rtn	-73.0%	-74.0%	-38.3%	-100.1%	-101.7%	-105.8%	-87.1%

Comparison Analyses

	Title
0	How Does EOG Resources Stock Stack Up Against Its Peers?
1	With 9.4% Gains On The Table, COP May Outshine EOG
2	MRO Could Deliver 0.0% Returns And Outperform EOG
3	OKE Looks Stronger Than EOG With 63% Return Potential
4	EOG or EPM - With 16% Return Forecast, EPM Probably Deserves Your Money
5	EOG Resources vs. Occidental Petroleum: With Return Forecast Of 52%, EOG Resources Is A Better Bet
6	EOG Resources vs. Valero Energy: With Return Forecast Of 51%, EOG Resources Is A Better Bet
7	EOG Resources vs IHS Markit: Similar Market Cap, But EOG Resources Is A Better Bet
8	EOG Resources vs Fortinet: Similar Market Cap, But EOG Resources Is A Better Bet
9	EOG Resources vs Texas Instruments Incorporated: Similar Revenue, But EOG Resources Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/27/2025	2/22/2024	2/23/2023	2/24/2022	2/25/2021	2/27/2020
Key Financials
Total Revenue	22,579	23,378	23,182	29,492	19,669	9,874	16,942
EBITDA	11,537	12,464	13,329	13,622	9,762	2,866	7,480
Operating Income	7,539	8,253	8,892	14,256	7,613	458	3,913
Net Income	5,530	6,403	7,594	7,759	4,664	-605	2,735
EPS	10.11	11.31	13.07	13.31	8.03	-1.04	4.73
Growth Rates
Total Revenue Growth	-5.0%	0.8%	-21.4%	49.9%	99.2%	-41.7%	-1.4%
EBITDA Growth	-13.1%	-6.5%	-2.2%	39.5%	240.6%	-61.7%	-5.6%
Operating Income Growth	-12.2%	-7.2%	-37.6%	87.3%	1562.2%	-88.3%	-18.6%
Net Income Growth	-22.5%	-15.7%	-2.1%	66.4%	870.9%	-122.1%	-20.0%
Margins
EBITDA Margin	51.1%	53.3%	57.5%	46.2%	49.6%	29.0%	44.2%
Operating Income Margin	33.4%	35.3%	38.4%	48.3%	38.7%	4.6%	23.1%
Net Income Margin	24.5%	27.4%	32.8%	26.3%	23.7%	-6.1%	16.1%
Cash & Debt
Total Cash	3,530	7,092	5,278	5,972	5,209	3,329	2,028
Total Debt	8,127	5,067	4,124	5,374	5,349	6,111	5,545
Net Debt / (Cash)	4,597	-2,025	-1,154	-598	140	2,782	3,517
Cash Flows
Net Cash from Operations	10,195	12,143	11,340	11,093	8,791	5,008	8,163
Free Cash from Operations	3,891	5,771	5,155	6,093	4,941	1,543	1,741
Returns to Shareholders
Dividends	2,120	2,087	3,386	5,148	2,684	821	588
Share Repurchases	2,880	3,246	1,038	118	41	16	25

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/1/2025	2/27/2025	11/7/2024	8/1/2024	5/2/2024	2/22/2024	11/2/2023	8/3/2023	5/4/2023	2/23/2023
Key Financials Quarterly
Total Revenue	5,732	5,355	5,842	5,650	5,865	6,029	5,834	6,030	6,113	5,460	5,579	6,494
Ebitda	3,064	2,855	2,937	2,681	3,196	3,180	3,407	3,500	3,507	2,887	3,435	3,779
Operating Income	1,809	1,679	2,095	1,956	2,032	2,238	2,027	2,285	2,533	1,913	2,161	2,789
Net Income	1,471	1,345	1,463	1,251	1,673	1,690	1,789	1,988	2,030	1,553	2,023	2,277
EPS	2.72	2.48	2.66	2.25	2.97	2.97	3.11	3.43	3.51	2.68	3.46	3.90
Key Financials TTM
Total Revenue TTM	22,579	22,712	23,386	23,378	23,758	24,006	23,437	23,182	23,646	25,131	28,316	29,492
Ebitda TTM	11,537	11,669	11,994	12,464	13,283	13,594	13,301	13,329	13,608	14,711	15,665	13,622
Operating Income TTM	7,539	7,762	8,321	8,253	8,582	9,083	8,758	8,892	9,396	10,660	13,021	14,256
Net Income TTM	5,530	5,732	6,077	6,403	7,140	7,497	7,360	7,594	7,883	8,707	9,392	7,759
Growth Rates Quarterly
Total Revenue Growth	-2.3%	-11.2%	0.1%	-6.3%	-4.1%	10.4%	4.6%	-7.1%	-19.5%	-36.8%	-17.4%	9.9%
EBITDA Growth	-4.1%	-10.2%	-13.8%	-23.4%	-8.9%	10.1%	-0.8%	-7.4%	-23.9%	-24.8%	146.8%	9.6%
Operating Income Growth	-11.0%	-25.0%	3.4%	-14.4%	-19.8%	17.0%	-6.2%	-18.1%	-33.3%	-55.2%	-36.4%	6.2%
Net Income Growth	-12.1%	-20.4%	-18.2%	-37.1%	-17.6%	8.8%	-11.6%	-12.7%	-28.9%	-30.6%	418.7%	14.7%
Margins Quarterly
EBITDA Margin	53.5%	53.3%	50.3%	47.5%	54.5%	52.7%	58.4%	58.0%	57.4%	52.9%	61.6%	58.2%
Operating Income Margin	31.6%	31.4%	35.9%	34.6%	34.6%	37.1%	34.7%	37.9%	41.4%	35.0%	38.7%	42.9%
Net Income Margin	25.7%	25.1%	25.0%	22.1%	28.5%	28.0%	30.7%	33.0%	33.2%	28.4%	36.3%	35.1%
Cash & Debt
Total Cash	3,530	5,216	6,599	7,092	6,122	5,431	5,292	5,278	5,326	4,764	5,018	5,972
Total Debt	8,127	4,596	5,062	5,067	4,114	4,087	4,109	4,124	4,143	4,149	4,174	5,374
Net Debt / (Cash)	4,597	-620	-1,537	-2,025	-2,008	-1,344	-1,183	-1,154	-1,183	-615	-844	-598
Cash Flows Quarterly
FCF from Operations	3,111	2,032	2,289	2,763	3,588	2,889	2,903	3,104	2,704	2,277	3,255	3,444
Cash Flows TTM
FCF from Operations TTM	10,195	10,672	11,529	12,143	12,484	11,600	10,988	11,340	11,680	13,749	13,520	11,093
Returns to Shareholders Quarterly
Dividends	545	528	538	509	533	520	525	1,345	494	480	1,067	1,327
Share Repurchases	479	602	806	993	795	699	759	310	109	302	317	23
Return on Invested Capital (ROIC) Quarterly
ROIC	126.9%	-	-	-	-	1687.7%	330.4%	211.1%	204.6%	134.4%	140.8%	157.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	128.2%	-	-	-	-	1714.9%	359.4%	205.3%	189.3%	187.8%	212.9%	198.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	23,182
Crude Oil and Condensate		16,367	11,125	5,786	9,613
Gains (Losses) on Asset Dispositions, Net		74	17	-47	124
Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts		-3,982	-1,152	1,145	180
Gathering, Processing and Marketing		6,696	4,288	2,583	5,360
Natural Gas		3,781	2,444	837	1,184
Natural Gas Liquids		2,648	1,812	668	785
Other, Net		118	108	60	134
Total	23,182	25,702	18,642	11,032	17,380

Price Behavior

Price Behavior

Market Price	$104.74
Market Cap ($ Bil)	56.7
First Trading Date	10/04/1989
Distance from 52W High	-21.5%
	50 Days	200 Days
DMA Price	$107.59	$113.69
DMA Trend	down	down
Distance from DMA	-2.6%	-7.9%
	3M	1YR
Volatility	21.2%	28.8%
Downside Capture	48.80	61.86
Upside Capture	-19.17	41.99
Correlation (SPY)	28.6%	54.6%

EOG Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.20	0.48	0.32	0.31	0.78	0.70
Up Beta	0.13	0.52	0.74	0.51	0.81	0.70
Down Beta	0.72	1.02	0.86	0.83	1.17	1.00
Up Capture	19%	4%	-41%	1%	22%	17%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	18	26	63	122	383
Down Capture	10%	40%	34%	3%	70%	86%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	22	35	61	125	366

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of EOG With Other Asset Classes (Last 1Y)
	EOG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-14.4%	3.2%	12.1%	61.5%	2.2%	-2.2%	-12.7%
Annualized Volatility	28.7%	24.7%	19.7%	19.3%	15.9%	17.7%	35.4%
Sharpe Ratio	-0.54	0.08	0.46	2.36	-0.05	-0.28	-0.17
Correlation With Other Assets		89.2%	53.5%	5.2%	66.1%	43.2%	26.6%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of EOG With Other Asset Classes (Last 5Y)
	EOG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	20.3%	21.9%	14.4%	18.3%	11.4%	4.8%	36.3%
Annualized Volatility	35.3%	26.8%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.61	0.75	0.68	0.95	0.49	0.17	0.63
Correlation With Other Assets		89.0%	34.9%	15.9%	61.5%	26.9%	16.5%

Based On 10-Year Data

		Comparison of EOG With Other Asset Classes (Last 10Y)
	EOG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	6.1%	8.0%	14.5%	14.6%	6.1%	5.4%	70.7%
Annualized Volatility	39.6%	29.8%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.28	0.32	0.69	0.82	0.27	0.23	0.91
Correlation With Other Assets		87.7%	47.5%	4.1%	60.9%	35.6%	12.6%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	13,866,233
Short Interest: % Change Since 11152025	-1.0%
Average Daily Volume	3,171,580
Days-to-Cover Short Interest	4.37
Basic Shares Quantity	541,000,000
Short % of Basic Shares	2.6%

Returns Analyses

	Title
0	Would You Still Hold EOG Resources Stock If It Fell Another 30%?
1	EOG YTD Stock Return Of -100% Underperforms MRO by 0% and Underperforms MRO by 0%
2	EOG Resources Stock Return Comparison
3	EOG Resources Total Shareholder Return (TSR): 55.7% in 2022 and 21.3% 3-yr returns (above peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	0.4%	4.0%	4.2%
8/7/2025	0.3%	3.3%	1.4%
2/27/2025	-2.8%	-6.4%	-3.1%
11/7/2024	6.1%	6.9%	1.1%
8/1/2024	-0.2%	3.0%	4.6%
5/2/2024	-1.4%	-0.9%	-9.2%
2/22/2024	-3.9%	-1.7%	7.3%
11/2/2023	-0.4%	-5.7%	-4.4%
...
SUMMARY STATS
# Positive	12	13	13
# Negative	11	10	10
Median Positive	5.0%	3.4%	7.3%
Median Negative	-2.8%	-1.7%	-4.0%
Max Positive	8.0%	13.7%	44.9%
Max Negative	-8.5%	-6.8%	-40.0%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5012025	10-Q 3/31/2025
12312024	2272025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8012024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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EOG Resources (EOG)

Market Price (12/18/2025): $104.8 | Market Cap: $56.7 BilSector: Energy | Industry: Oil & Gas Exploration & Production

EOG Resources (EOG)

Market Price (12/18/2025): $104.8Market Cap: $56.7 BilSector: EnergyIndustry: Oil & Gas Exploration & Production

Valuation, Metrics & Events

EOG Stock

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Market Price (12/18/2025): $104.8 | Market Cap: $56.7 Bil
Sector: Energy | Industry: Oil & Gas Exploration & Production

Market Price (12/18/2025): $104.8
Market Cap: $56.7 Bil
Sector: Energy
Industry: Oil & Gas Exploration & Production