Track market-moving stories before they get noisy

CWA Asset Management Group LLC grew its position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) by 665.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,668 shares of the energy exploration company’s stock after acquiring an additional 25,790 shares during the quarter. CWA Asset Management Group LLC’s holdings in EOG Resources were worth $4,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in shares of EOG Resources in the second quarter valued at $138,987,000. Punch & Associates Investment Management Inc. purchased a new stake in EOG Resources in the 2nd quarter worth about $11,746,000. Parvin Asset Management LLC purchased a new stake in EOG Resources in the 2nd quarter worth about $1,743,000. Transamerica Financial Advisors LLC purchased a new position in shares of EOG Resources during the second quarter valued at approximately $1,051,000. Finally, Rakuten Investment Management Inc. purchased a new position in shares of EOG Resources during the second quarter valued at approximately $11,517,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

EOG Resources Price Performance Shares of NYSE EOG opened at $157.83 on Wednesday. The firm’s 50 day simple moving average is $146.59 and its 200-day simple moving average is $140.44. The stock has a market capitalization of $82.79 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.56 and a beta of 0.36. EOG Resources, Inc. has a 12 month low of $101.59 and a 12 month high of $159.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68.

EOG Resources (NYSE:EOG – Get Free Report) last posted its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.04 billion. EOG Resources had a net margin of 25.44% and a return on equity of 23.44%. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.32 EPS. Analysts expect that EOG Resources, Inc. will post 17.48 EPS for the current year. EOG Resources Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio (DPR) is presently 31.75%.

EOG Resources News Summary Here are the key news stories impacting EOG Resources this week:

Positive Sentiment: Higher analyst price target: Susquehanna raised its target on EOG from $170 to $187 and upgraded the stock to “positive,” implying approximately 18.5% upside from the referenced price. This signals increased confidence in EOG’s production outlook and profitability. Susquehanna raises EOG Resources price target Positive Sentiment: Strong earnings momentum: EOG recently reported adjusted earnings of $5.07 per share, exceeding the $4.97 consensus estimate, while revenue of $8.62 billion also topped expectations. Earnings growth, production gains in key basins and efficient asset utilization have contributed to repeated earnings-estimate increases. EOG posts $5.07 adjusted earnings per share Positive Sentiment: Support from energy prices and ratings: Crude oil prices have risen sharply in 2026 amid Middle East tensions, potentially boosting EOG’s cash flow. EOG was also added to multiple Zacks Rank #1 “Strong Buy” lists covering value, growth and momentum. Oil explorers positioned for rising crude prices Neutral Sentiment: Valuation debate: Some analysis views EOG as undervalued based on its cash-generation potential and improving forecasts, while other commentary questions whether the stock remains below fair value after a roughly 113% five-year advance and a recent 52-week high. EOG may trade below fair value after its run Negative Sentiment: Profit-taking risk: With EOG shares near record levels and recent returns already strong, investors may question how much upside remains, increasing the risk of short-term consolidation or profit-taking even as long-term fundamentals remain favorable. EOG reaches a 52-week high Insider Activity at EOG Resources In other news, EVP Michael P. Donaldson sold 7,336 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total value of $1,085,728.00. Following the completion of the sale, the executive vice president directly owned 100,558 shares in the company, valued at $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ezra Y. Yacob sold 35,942 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the sale, the chief executive officer directly owned 242,451 shares of the company’s stock, valued at approximately $36,876,797.10. This represents a 12.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 52,317 shares of company stock valued at $7,823,480. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades A number of brokerages have recently issued reports on EOG. Freedom Capital lowered shares of EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Truist Financial lifted their price target on EOG Resources from $153.00 to $160.00 and gave the company a “hold” rating in a report on Friday, October 2nd. Weiss Ratings raised shares of EOG Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 8th. Mizuho set a $165.00 price target on EOG Resources in a report on Thursday, October 15th. Finally, Stifel Nicolaus began coverage on shares of EOG Resources in a research note on Thursday, September 10th. They set a “hold” rating and a $158.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, EOG Resources currently has an average rating of “Hold” and an average price target of $161.24.

View Our Latest Research Report on EOG

About EOG Resources (Free Report)

EOG Resources, Inc is an independent exploration and production company engaged in finding, developing, producing and marketing crude oil, natural gas liquids and natural gas. Its operations focus on large, high-quality onshore and international assets, supported by technical expertise in horizontal drilling and hydraulic fracturing.

The company’s principal U.S. activities are concentrated in major shale and onshore plays, including the Delaware Basin, Eagle Ford and other producing regions in Texas and the Rocky Mountains.

Recommended Stories Five stocks we like better than EOG Resources Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling? Halliburton Gains Traction: Multiyear Upcycle Ahead Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at EOG Resources (EOG - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. EOG Resources currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if EOG is a promising momentum pick, let's examine some Momentum Style elements to see if this oil and gas company holds up.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For EOG, shares are up 6.65% over the past week while the Zacks Oil and Gas - Exploration and Production - United States industry is up 1.98% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 9.55% compares favorably with the industry's 1.25% performance as well.

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of EOG Resources have risen 7.94%, and are up 48.76% in the last year. In comparison, the S&P 500 has only moved 1.92% and 16.73%, respectively.

Investors should also pay attention to EOG's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. EOG is currently averaging 2,902,964 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with EOG.

Over the past two months, 7 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost EOG's consensus estimate, increasing from $16.22 to $17.48 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineGiven these factors, it shouldn't be surprising that EOG is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep EOG Resources on your short list.

A strong stock as of late has been EOG Resources (EOG - Free Report) . Shares have been marching higher, with the stock up 9.6% over the past month. The stock hit a new 52-week high of $158.37 in the previous session. EOG Resources has gained 50.5% since the start of the year compared to the 38.5% move for the Zacks Oils-Energy sector and the 35.3% return for the Zacks Oil and Gas - Exploration and Production - United States industry.

What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 4, 2026, EOG Resources reported EPS of $5.07 versus consensus estimate of $5.01 while it beat the consensus revenue estimate by 9.56%.

For the current fiscal year, EOG Resources is expected to post earnings of $17.48 per share on $30.64 in revenues. This represents a 72.05% change in EPS on a 35.38% change in revenues. For the next fiscal year, the company is expected to earn $15.34 per share on $28.63 in revenues. This represents a year-over-year change of -12.25% and -6.57%, respectively.

Valuation MetricsWhile EOG Resources has moved to its 52-week high over the past few weeks, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.

On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.

EOG Resources has a Value Score of B. The stock's Growth and Momentum Scores are B and B, respectively, giving the company a VGM Score of A.

In terms of its value breakdown, the stock currently trades at 9X current fiscal year EPS estimates, which is not in-line with the peer industry average of 9.4X. On a trailing cash flow basis, the stock currently trades at 8.6X versus its peer group's average of 5.2X. Additionally, the stock has a PEG ratio of 0.57. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.

Zacks RankWe also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, EOG Resources currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if EOG Resources passes the test. Thus, it seems as though EOG Resources shares could have a bit more room to run in the near term.

How Does EOG Stack Up to the Competition?Shares of EOG have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Devon Energy Corporation (DVN - Free Report) . DVN has a Zacks Rank of #2 (Buy) and a Value Score of B, a Growth Score of A, and a Momentum Score of A.

Earnings were strong last quarter. Devon Energy Corporation beat our consensus estimate by 20.77%, and for the current fiscal year, DVN is expected to post earnings of $5.40 per share on revenue of $26.02 billion.

Shares of Devon Energy Corporation have gained 4.4% over the past month, and currently trade at a forward P/E of 9.4X and a P/CF of 5.24X.

The Oil and Gas - Exploration and Production - United States industry is in the top 15% of all the industries we have in our universe, so it looks like there are some nice tailwinds for EOG and DVN, even beyond their own solid fundamental situation.

Here are three stocks with buy rank and strong value characteristics for investors to consider today, October 19th:  

Versant Media Group, Inc. (VSNT - Free Report) : This company, which is in media and entertainment business and home to brands, carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.5% over the last 60 days.

Versant Media has a price-to-earnings ratio (P/E) of 7.76 compared with 15 for the industry. The company possesses a Value Score of A.

Sendas Distribuidora (ASAIY - Free Report) : This company, which engages in the retail and wholesale of food and other products through its stores, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.2% over the last 60 days.

Sendas Distribuidora has a price-to-earnings ratio (P/E) of 9.71 compared with 11.50 for the industry. The company possesses a Value Score of A.

EOG Resources (EOG - Free Report) : This independent exploration and production company, which is focused on crude oil, natural gas liquids and natural gas, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.8% over the last 60 days.

EOG Resources has a price-to-earnings ratio (P/E) of 9.04 compared with 12.40 for the industry. The company possesses a Value Score of B.

See the full list of top ranked stocks here.

Learn more about the Value score and how it is calculated here.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.82% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: EOG Resources (EOG - Free Report) Headquartered in Houston, TX, EOG Resources, Inc. is an independent exploration and production company focused on crude oil, natural gas liquids and natural gas. The company’s operations are mainly in the United States, with additional activity in Trinidad and select other international areas.

EOG is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 9; value investors should take notice.

For fiscal 2026, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.91 to $17.13 per share. EOG boasts an average earnings surprise of +6.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, EOG should be on investors' short list.

What happened EOG Resources, Inc. (NYSE: EOG) said October 8, 2026, that third-quarter 2026 current tax expense guidance moved higher. The company now expects $835 million to $935 million, up from $545 million to $645 million in guidance issued with second-quarter 2026 results on August 4, 2026. EOG said higher crude oil prices in the third quarter and higher expected prices for full-year 2026 drove the change because of the ongoing conflict in the Middle East.

The company also said it received $40 million in net cash from settlements of commodity derivative contracts during the quarter. No cash came from the Brent Linked Gas Sales Contract because deliveries are expected to start in January 2027. U.S. NYMEX West Texas Intermediate crude averaged $85.68 per barrel for the quarter ended September 30, 2026.

Henry Hub natural gas averaged $2.95 per million British thermal units. EOG said its actual realizations for crude oil and natural gas differ from NYMEX prices because of delivery location, quality and revenue adjustments. For NGLs, actual realizations depend on extracted components including ethane, propane, butane and natural gasoline. EOG said it is not updating or confirming any other third-quarter 2026 or full-year 2026 ranges. Key numbers Metric Latest Change Source Third-quarter 2026 current tax expense guidance $835 million to $935 million from $545 million to $645 million, + $290 million SEC 8-K Net cash from settlements of commodity derivative contracts $40 million SEC 8-K U.S. NYMEX West Texas Intermediate crude average $85.68 per barrel SEC 8-K Henry Hub natural gas average $2.95 per million British thermal units SEC 8-K Read more: EOG Resources (EOG) stock analysis and investment case

Why it matters The higher tax guide means more cash goes to current taxes in the quarter. That matters for a producer that relies on cash generation and capital discipline. OptimistFi's calculation shows the updated range is $290 million higher at both ends than the prior guidance. That makes tax expense and derivative cash the main moving parts in this filing.

The $40 million in net cash from derivative settlements is the filing's other quantified cash item. The Brent Linked Gas Sales Contract has not started delivering yet. The filing also shows that EOG links the tax increase to realized crude prices, which can change cash taxes quickly.

Browse: stock research on every company OptimistFi covers

What's next Deliveries under the Brent Linked Gas Sales Contract are expected to start in January 2027. That is the next dated step investors can watch against this quarter's cash and tax update. If deliveries begin on schedule, the contract will add another reported cash source to compare with the $40 million from derivative settlements.

More from OptimistFi EOG stock: the EOG Resources thesis, its status and the next test to watch Dividendology Explains Hess Midstream LP (NYSE: HESM)'s EBITDA Reset Viatris Inc. (NASDAQ: VTRS) Buys Pacira for $1.65 Billion Richardson Electronics, Ltd. (NASDAQ: RELL) Margin Gains Need Context Stock research on every company OptimistFi covers Latest stock research and investment-case updates OptimistFi: evidence-first equity research Sources SEC 8-K — EOG updated third-quarter 2026 current tax expense guidance and reported $40 million in net cash from commodity derivative settlements. Read the full OptimistFi thesis on EOG Resources, Inc.: https://optimistfi.com/stocks/EOG

See what would break the EOG Resources, Inc. thesis and track it live on the OptimistFi Thesis-Break Engine.

Browse every company OptimistFi covers at optimistfi.com/stocks, or read the latest evidence-first research.

The full EOG Resources, Inc. investment case, its status and the next test to watch live on the EOG Resources, Inc. thesis page.

Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider EOG Resources (EOG - Free Report) . This company, which is in the Zacks Oil and Gas - Exploration and Production - United States industry, shows potential for another earnings beat.

When looking at the last two reports, this oil and gas company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.14%, on average, in the last two quarters.

For the last reported quarter, EOG Resources came out with earnings of $5.07 per share versus the Zacks Consensus Estimate of $5.01 per share, representing a surprise of 1.20%. For the previous quarter, the company was expected to post earnings of $3.07 per share and it actually produced earnings of $3.41 per share, delivering a surprise of 11.07%.

Price and EPS Surprise

Thanks in part to this history, there has been a favorable change in earnings estimates for EOG Resources lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

EOG Resources has an Earnings ESP of +0.76% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on November 5, 2026.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

EOG Resources remains a Buy, supported by robust operational execution, record oil volumes, and disciplined capital allocation. EOG's Q2 featured $5.07 adjusted EPS, $2.8B free cash flow, and a strengthened balance sheet with net debt dropping to $3.02B. Forward guidance includes 5% oil volume growth for 2026, $8B FCF, and continued shareholder returns via dividends and buybacks.

, /PRNewswire/ -- EOG Resources, Inc. (EOG) today announced that Ann D. Janssen has elected to retire from EOG. The Board of Directors has appointed Jeffrey W. "Jeff" Hibbard to succeed Janssen as Executive Vice President and Chief Financial Officer, effective January 1, 2027. Janssen will continue serving as an advisor to allow for the transition of her responsibilities prior to retirement in 2027.

"Throughout her career, Ann has led by example, setting the standard for capital discipline, financial integrity, and a rigorous approach to accounting and financial reporting," said Ezra Y. Yacob, Chairman and Chief Executive Officer. "As CFO, Ann championed the flexibility, value, and competitive advantage provided by a pristine balance sheet cementing EOG's financial foundation. I'm grateful for the incredible team Ann has built here at EOG and to retain her counsel as an advisor while she transitions to a well-deserved retirement."

Ann Janssen has worked at EOG for more than 30 years after joining a predecessor company in 1995. She has served as EOG's Executive Vice President and Chief Financial Officer since January 2024. She previously served as Senior Vice President and Chief Accounting Officer following several roles leading the accounting, financial reporting and planning, and treasury functions at EOG.

"Jeff has been an invaluable addition to our finance organization, and I'm excited about EOG's future under his leadership," said Yacob. "Jeff's deep understanding of the business, developed over two decades serving the oil and gas industry, combined with the same commitment to capital discipline that Ann instilled, makes him the right choice to guide EOG's financial strategy."

Jeff Hibbard has served as EOG's Senior Vice President, Finance since joining EOG in August 2025.  Before joining EOG, Hibbard worked for Morgan Stanley for more than 20 years, in various investment banking roles of increasing responsibility, and most recently served as a Managing Director in Morgan Stanley's Global Energy Group. 

About EOG
EOG Resources, Inc. (NYSE: EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the United States and Trinidad. To learn more visit www.eogresources.com. 

Investor Contacts
Pearce Hammond       713-571-4684
Neel Panchal               713-571-4884
Shelby O'Connor         713-571-4560
Cameron Hughes        713-571-3724

Media Contact
Kimberly Ehmer          713-571-4676

SOURCE EOG Resources, Inc.

HOUSTON, Sept. 22, 2026 /PRNewswire/ -- EOG Resources, Inc. (EOG) will host a conference call and webcast to discuss third quarter 2026 results on Friday, November 6, 2026, at 9 a.m.

Engineers Gate Manager LP purchased a new stake in EOG Resources, Inc. (NYSE:EOG – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,023 shares of the energy exploration company’s stock, valued at approximately $1,300,000.

A number of other large investors have also recently bought and sold shares of EOG. Cidel Asset Management Inc. boosted its stake in EOG Resources by 3.6% in the second quarter. Cidel Asset Management Inc. now owns 8,089 shares of the energy exploration company’s stock worth $1,049,000 after purchasing an additional 282 shares in the last quarter. Capital Analysts LLC increased its stake in shares of EOG Resources by 0.9% in the second quarter. Capital Analysts LLC now owns 104,396 shares of the energy exploration company’s stock valued at $13,543,000 after buying an additional 892 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of EOG Resources by 47.8% in the second quarter. Integrated Wealth Concepts LLC now owns 19,729 shares of the energy exploration company’s stock worth $2,559,000 after acquiring an additional 6,378 shares during the last quarter. Community Bank N.A. grew its stake in shares of EOG Resources by 1.0% during the second quarter. Community Bank N.A. now owns 17,463 shares of the energy exploration company’s stock valued at $2,265,000 after purchasing an additional 176 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of EOG Resources by 68.0% in the second quarter. NewEdge Advisors LLC now owns 87,430 shares of the energy exploration company’s stock valued at $11,342,000 after purchasing an additional 35,382 shares in the last quarter. 89.91% of the stock is currently owned by institutional investors.

EOG Resources Stock Performance Shares of EOG opened at $145.49 on Friday. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $154.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.68 and a current ratio of 1.85. The firm’s 50 day moving average price is $144.26 and its two-hundred day moving average price is $138.92. The firm has a market cap of $76.32 billion, a P/E ratio of 11.32, a PEG ratio of 0.54 and a beta of 0.26.

EOG Resources (NYSE:EOG – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter in the prior year, the firm posted $2.32 EPS. The business’s revenue was up 57.4% on a year-over-year basis. On average, analysts forecast that EOG Resources, Inc. will post 16.75 EPS for the current fiscal year. EOG Resources Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 16th. EOG Resources’s dividend payout ratio is presently 31.75%.

Analysts Set New Price Targets Several research analysts have issued reports on EOG shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $186.00 price objective (up from $183.00) on shares of EOG Resources in a report on Thursday. UBS Group reaffirmed a “buy” rating and set a $183.00 price target (up from $158.00) on shares of EOG Resources in a research note on Monday. Zacks Research cut EOG Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Roth Capital reiterated a “neutral” rating and issued a $138.00 price objective on shares of EOG Resources in a research report on Wednesday, August 5th. Finally, Morgan Stanley set a $157.00 price objective on shares of EOG Resources and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eighteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.11.

Get Our Latest Stock Report on EOG Resources

Insider Buying and Selling at EOG Resources In other news, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer directly owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Donaldson sold 7,336 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.

EOG Resources Profile (Free Report)

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

Featured Stories Five stocks we like better than EOG Resources Aeluma’s Selloff Could Be Setting Up Its Next Big Move Crypto Bill Stalls, Smart Money Calls: Time to Buy the Dip? The September Scramble: Find Sanctuary in These 3 Defensive Dividend Stocks The Fed’s Rate Hike Could Backfire If Oil Prices Collapse

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Crude prices retreated Wednesday and the pain landed squarely on exploration and production names, skipping refiners and midstream entirely. Here is why that mechanical link turned a commodity move into a sector-wide shakeout for some of the biggest names in…

Oil and gas producers are sliding Wednesday morning as crude oil prices retreat, dragging exploration and production names lower across the board. The move is concentrated in the energy patch rather than the tape. The SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) is down 4% to $192.43, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.4% to $760.45.

ConocoPhillips (NYSE:COP | COP Price Prediction) stock is down 5% to $134.29, giving back part of a recent advance. Meanwhile, EOG Resources (NYSE:EOG) shares are falling 6% to $145.16, leading the three featured names lower. Occidental Petroleum (NYSE:OXY) stock is sliding 5% to $60.16, tracking the same commodity pressure.

Crude Retreat Passes Straight Into Producer P&L ConocoPhillips, EOG Resources, and Occidental Petroleum are exploration and production companies that own the barrels they sell, so a fall in the crude price passes into their realized prices directly. That mechanical link is the whole of today’s story, with no company-specific news bridging the three. Each of the three producers is down by more than XOP, which puts the sharpest pain at the pure-play end of the group.

Owning producing acreage rather than refining margins or midstream fees means ConocoPhillips, EOG Resources, and Occidental Petroleum see revenue swing with the crude price rather than against it. Such commodity leverage cuts both ways. It has cut in favor of the group for stretches this year before turning against them on this session.

Sector Move, Not a Company Story The absence of individual catalysts across ConocoPhillips, EOG Resources, and Occidental Petroleum is itself the tell. When three producers with different basins, hedging profiles, and capital return programs all fall together on the same session, the driver sits above them at the commodity level rather than in any one boardroom. XOP’s decline confirms the pressure is sector-wide across E&P, not a rerating of one management team.

ConocoPhillips stock is still up 7% over the past month even after today’s slide, which supports reading this session as giving back part of a recent advance rather than as a change in the business outlook. That backdrop matters for how investors weigh their exposure into the next move in crude.

What to Watch Next Traders can watch for whether crude stabilizes through the afternoon or extends its decline, since that’s what decides how much of today’s move sticks in ConocoPhillips, EOG Resources, and Occidental Petroleum shares. Investors may want to keep an eye on whether the XOP ETF holds its recent range, which would suggest the sector is absorbing the crude move without a broader reset in energy sentiment.

For position sizing, investors weighing fresh exposure to ConocoPhillips, EOG Resources, or Occidental Petroleum should recognize that their P&L is a leveraged bet on the crude curve. Their exposure should reflect that beta rather than treating any single-session pullback as a discount to intrinsic value. Staggering entries around commodity volatility tends to serve investors better than committing all capital at once into a fast-moving market.

Contact [email protected] for any questions or corrections.

Oil prices are back on the rise today after yesterday's pullback, putting energy stocks in focus.

Corient Private Wealth LP lowered its stake in EOG Resources, Inc. (NYSE:EOG – Free Report) by 45.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,004 shares of the energy exploration company’s stock after selling 136,362 shares during the period. Corient Private Wealth LP’s holdings in EOG Resources were worth $21,276,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of EOG Resources by 12,810.7% during the second quarter. California State Teachers Retirement System now owns 80,957,747 shares of the energy exploration company’s stock worth $10,502,649,000 after purchasing an additional 80,330,686 shares during the period. BlackRock Inc. purchased a new position in EOG Resources during the 2nd quarter worth approximately $5,905,587,000. Bank of New York Mellon Corp acquired a new stake in EOG Resources during the 2nd quarter valued at approximately $654,899,000. Bank of America Corp DE purchased a new stake in shares of EOG Resources in the 2nd quarter valued at $551,321,000. Finally, Deutsche Bank AG acquired a new stake in shares of EOG Resources in the second quarter worth $251,102,000. 89.91% of the stock is owned by hedge funds and other institutional investors.

EOG Resources Trading Up 0.7% EOG stock opened at $148.43 on Tuesday. EOG Resources, Inc. has a 12-month low of $101.59 and a 12-month high of $153.67. The business’s 50-day moving average is $143.48 and its 200 day moving average is $138.38. The company has a current ratio of 1.85, a quick ratio of 1.68 and a debt-to-equity ratio of 0.25. The stock has a market cap of $77.86 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.55 and a beta of 0.26.

EOG Resources (NYSE:EOG – Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.32 earnings per share. On average, sell-side analysts anticipate that EOG Resources, Inc. will post 16.75 EPS for the current fiscal year. EOG Resources Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s payout ratio is 31.75%.

Analyst Ratings Changes EOG has been the subject of a number of research reports. Truist Financial boosted their target price on shares of EOG Resources from $134.00 to $153.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Freedom Capital downgraded EOG Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. UBS Group reiterated a “buy” rating and set a $183.00 price target (up from $158.00) on shares of EOG Resources in a research report on Monday. Zacks Research lowered EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 target price (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat, EOG Resources currently has an average rating of “Hold” and a consensus price target of $158.00.

View Our Latest Stock Report on EOG Resources

Insider Buying and Selling at EOG Resources In other news, EVP Michael Donaldson sold 7,336 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $148.00, for a total transaction of $1,085,728.00. Following the completion of the sale, the executive vice president owned 100,558 shares of the company’s stock, valued at $14,882,584. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ezra Yacob sold 35,942 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $152.10, for a total transaction of $5,466,778.20. Following the transaction, the chief executive officer owned 242,451 shares in the company, valued at $36,876,797.10. The trade was a 12.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

EOG Resources Company Profile (Free Report)

EOG Resources, Inc is an independent exploration and production company focused on finding, developing and producing crude oil, natural gas and natural gas liquids. Its operations are concentrated primarily in the United States, with a portfolio of onshore assets in several major producing regions.

The company’s principal U.S. positions include the Delaware Basin and other areas of the Permian Basin, the Eagle Ford and Dorado plays in South Texas, and the Rocky Mountain region. EOG also has international operations in Trinidad and Tobago, where it produces natural gas and supports related energy development.

EOG traces its history to Enron Oil & Gas Company, which was established in 1990.

Read More Five stocks we like better than EOG Resources Analysts Are Punting Their Calls Into the Next Quarter After Adobe’s Mixed Earnings Institutional Money Is Pouring Into These 2 Altcoin ETFs The End of Big Tech Buybacks? Only One Hyperscaler Is Still Repurchasing Shares 3 Dividend Kings to Buy While They’re Still Beaten Down

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: EOG Resources (EOG - Free Report) Headquartered in Houston, TX, EOG Resources, Inc. is an independent exploration and production company focused on crude oil, natural gas liquids and natural gas. The company’s operations are mainly in the United States, with additional activity in Trinidad and select other international areas.

EOG is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 8.7; value investors should take notice.

Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.70 to $16.89 per share. EOG boasts an average earnings surprise of +6.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, EOG should be on investors' short list.

Key Takeaways JPMorgan benefits from elevated rates, resilient loan demand and a 14.1% CET1 capital cushion.EOG returned $1.8 billion to shareholders as 2026 oil production is expected to grow 5%.Bloom Energy raised 2026 revenue guidance to $3.9-$4.2 billion amid rising AI power demand. The Federal Reserve’s Sept. 15-16 policy meeting has become unusually consequential for investors as inflation remains above the central bank’s 2% target, the labor market shows signs of renewed strength and geopolitical tensions push crude oil sharply higher.

The Bureau of Labor Statistics reported that nonfarm payroll employment increased by 162,000 in August, well above the 31,000 average monthly gain over the prior 12 months, while the unemployment rate held at 4.1%. The stronger-than-expected employment report has increased expectations for a potential rate hike, with futures markets assigning roughly a 59% probability to a 25-basis-point increase, according to Reuters.

Inflation remains another key constraint. July CPI increased 3.4% year over year, while core CPI rose 2.5%, according to the BLS. The August PPI and CPI reports are scheduled for Sept. 10 and Sept. 11, respectively, immediately before the Fed meeting.

Against this backdrop, JPMorgan Chase (JPM - Free Report) , EOG Resources (EOG - Free Report) and Bloom Energy (BE - Free Report) offer exposure to three distinct forces shaping the market ahead of the Fed meeting — interest rates, elevated crude prices and structural electricity demand from AI infrastructure. Let’s delve deeper.

Oil Shock Adds Another Layer of Inflation RiskThe Fed's policy calculus has become more difficult as the energy market has deteriorated. Brent crude briefly moved above $100 per barrel on Sept. 9 for the first time since July 24 (Reuters), after escalating U.S.-Iran tensions and attacks by Iran-backed Houthis on Saudi energy facilities heightened concerns about supply disruptions.

The oil shock could complicate the inflation outlook by lifting energy costs while simultaneously weighing on household purchasing power and economic growth. The New York Fed's August Survey of Consumer Expectations showed one-year inflation expectations holding at 3.6%, while the perceived probability of higher unemployment over the next year rose to 44.4%, its highest level since April 2020.

Treasury yields are also responding to the changing inflation and policy outlook, with the 10-year yield approaching 4.8%-5%. Higher yields raise corporate borrowing costs and increase the discount rate applied to future earnings, potentially pressuring equity valuations.

3 Stocks to Consider Before the Fed's September DecisionJPMorgan Chase - Strong Banking Fundamentals: JPMorgan offers exposure to an elevated-rate environment through its lending and deposit franchise. The bank reported second-quarter revenues of $57.3 billion and net income of $21.2 billion. Average loans increased 10% year over year while average deposits rose 7%. JPMorgan's standard CET1 ratio was 14.1%, providing the bank with a strong capital cushion to absorb potential losses and support its lending activities.

For JPM, a higher-rate environment can support interest income, while continued labor-market resilience supports loan demand and limits an abrupt deterioration in credit conditions.

This Zacks Rank #2 (Buy) company is projected to report 2026 earnings growth of 22.6% on revenue growth of 13.8%.

Image Source: Zacks Investment Research

EOG Resources - Direct Oil-Price Exposure: EOG provides direct exposure to crude oil, the commodity at the center of the latest energy-driven inflation shock. The company generated $2.8 billion in free cash flow in the second quarter of 2026 and returned $1.8 billion to shareholders through its regular dividend and share repurchases. EOG expects 5% oil-production growth and 14% total production growth in 2026.

With Brent above $100, sustained crude prices could strengthen EOG's cash-generation capacity. Its low-cost operating model and diversified oil, natural gas liquids and natural-gas portfolio also provide some insulation against commodity-cycle volatility. The key risk is that prolonged geopolitical disruption could eventually weaken global demand.

This Zacks Rank #3 (Hold) company is projected to report 2026 earnings growth of 66.2% on revenue growth of 33.1%.

Image Source: Zacks Investment Research

Bloom Energy - AI Power Demand Provides a Separate Catalyst: Bloom Energy offers a structural growth driver that is less dependent on the Fed's immediate decision. Second-quarter 2026 revenues jumped 165.5% year over year, while non-GAAP operating income increased to $239.6 million from $28.6 million a year earlier. Bloom Energy raised its 2026 revenue guidance to $3.9-$4.2 billion, representing 100% growth at the midpoint.

The company is benefiting from the growing requirement for rapidly deployable power for AI infrastructure. That fundamental demand provides BE with a company-specific catalyst even if higher Treasury yields continue to put pressure on growth-oriented equities.

This Zacks Rank #1 (Strong Buy) company is projected to report 2026 earnings growth of 238.2% on revenue growth of 104.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Image Source: Zacks Investment Research

It has been about a month since the last earnings report for EOG Resources (EOG - Free Report) . Shares have added about 11% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is EOG Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

EOG Q2 Earnings Beat Estimates on Higher Volumes & PricesEOG Resources, Inc. reported second-quarter 2026 adjusted earnings of $5.07 per share, up 118.5% year over year and above the Zacks Consensus Estimate of $5.01 by 1.2%. Revenues jumped 57.4% to $8.62 billion and beat the consensus mark of $7.87 billion by 9.6%.

The strong quarter reflected higher oil prices and impressive production.

EOG's Impressive Production LevelsTotal production increased 24.4% from 1,134.1 thousand barrels of oil equivalent per day (MBoE/D) in the year-ago quarter. Our model predicted a 22.4% year-over-year increase in the metric for the June quarter of this year.

Crude oil and condensate output rose 8.8%, while natural gas liquids volumes soared 34.2% to 346.8 thousand barrels per day (MBbl/D).

Natural gas production climbed 38.6% to 3,089 million cubic feet per day (MMcf/D). The company also established oil production in the United Arab Emirates after successful tests of two one-mile lateral wells, each averaging more than 25,000 barrels of cumulative oil production during the first 30 days.

EOG Resources Benefits From Strong PricingThe composite realized price for crude oil and condensate was $98.15 per barrel, up 51.4% from $64.82 a year earlier. Natural gas liquids fetched $24.41 per barrel, a 7.5% increase.

The composite natural gas price declined 2.4% to $2.89 per Mcf. Even so, stronger oil realizations more than offset the softer gas price and supported a sharp increase in crude oil and condensate revenues to $4.90 billion from $2.97 billion.

EOG's Operating Costs Rise as Production ExpandsLease and well expenses increased to $467 million from $396 million, while gathering, processing and transportation costs rose to $676 million from $455 million. The increases reflected the company's larger production base.

On a per-unit basis, lease and well costs improved to $3.64 per Boe from $3.84. Gathering, processing and transportation costs rose to $5.27 per Boe from $4.41, while non-GAAP cash operating costs increased to $10.57 per Boe from $9.94.

EOG's Free Cash Flow Supports ReturnsAdjusted cash flow from operations reached $4.39 billion, up from $2.50 billion in the prior-year period. After $1.59 billion of capital expenditures, free cash flow totaled $2.80 billion versus $973 million a year ago.

EOG paid $540 million in regular dividends and repurchased $1.29 billion of shares during the June quarter.

EOG Resources Retains Balance Sheet FlexibilityCash and cash equivalents were $4.91 billion at June 30, 2026, up from $3.85 billion at the end of the first quarter. Current and long-term debt was $7.93 billion.

Net debt declined to $3.02 billion from $4.08 billion sequentially. The net debt-to-total capitalization ratio improved to 8.7% from 11.7%, preserving financial flexibility while the company continued substantial shareholder distributions.

EOG's 2026 Growth PlanFor the third quarter, EOG expects crude oil and condensate production of 546 to 551 MBbl/D and total output of 1,389.7 to 1,434.7 MBoE/D. Capital expenditures are projected at $1.6 to $1.7 billion.

For 2026, the company forecasts crude oil and condensate volumes of 546.3 to 551.1 MBbl/D and total production of 1,378.3 to 1,423.1 MBoE/D. Full-year capital expenditures are expected to range from $6.3 billion to $6.7 billion, while management projects oil production to increase 5% and total production 14% in 2026.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.

The consensus estimate has shifted 6.42% due to these changes.

VGM ScoresCurrently, EOG Resources has a strong Growth Score of A, a score with the same score on the momentum front. Following the exact same course, the stock has a grade of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, EOG Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerEOG Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, EQT Corporation (EQT - Free Report) , a stock from the same industry, has gained 8.8%. The company reported its results for the quarter ended June 2026 more than a month ago.

EQT reported revenues of $1.81 billion in the last reported quarter, representing a year-over-year change of +13.2%. EPS of $0.39 for the same period compares with $0.45 a year ago.

EQT is expected to post earnings of $0.49 per share for the current quarter, representing a year-over-year change of -5.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -12.2%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for EQT. Also, the stock has a VGM Score of C.

EOG Resources continues to deliver record free cash flow, driven by high oil prices and disciplined capital allocation. EOG's commitment to return 70% of FCF to shareholders remains slightly under target, with 64% returned year-to-date via dividends and buybacks. Management prudently holds excess cash, balancing buybacks and special dividends amid oil price volatility and geopolitical uncertainty.

Key Takeaways EOG's Q2 2026 earnings rose 118.5%, while production increased 24.4% to 1,410.4 Mboe/d.EOG estimates 12 BBoe/d of resource potential, supporting targeted production growth in 2026.EOG generated $2.8 billion of free cash flow and returned $1.83 billion through dividends and buybacks. EOG Resources, Inc. (EOG - Free Report) shares have gained 14.8% in the past 12 weeks. The move has been backed by a stronger second quarter, higher production and a 4.2% increase in the Zacks Consensus Estimate for the current fiscal year's earnings over the past four weeks.

The rally has also raised the bar. EOG's valuation is slightly above its five-year median, while the Zacks Consensus Estimate points to lower earnings in 2027.

EOG's Q2 Strength Supports the Rally CaseSecond-quarter 2026 adjusted earnings increased 118.5% to $5.07 per share and topped the Zacks Consensus Estimate of $5.01 by 1.2%. Revenues rose 57.4% to $8.62 billion and beat the consensus mark by 9.6%.

Total production increased 24.4% to 1,410.4 thousand barrels of oil equivalent per day (Mboe/d). Crude oil and condensate volumes rose 8.8%, while their composite realized price increased 51.4% to $98.15 per barrel.

EOG Resources Has More Inventory to Extend GrowthEOG estimates about 12 billion barrels of oil equivalent (BBoe/d) of resource potential across its multi-basin portfolio and cites direct after-tax returns above 100% at $55 WTI. That depth supports flexibility as EOG targets 5% oil production growth and 14% total production growth in 2026.

The Encino acquisition expanded EOG's Utica position to about 1.1 million net acres. Roughly 60,000 net Austin Chalk acres add about one year of inventory at current activity levels, while two initial UAE wells each produced more than 25,000 barrels during their first 30 days.

EOG's Free Cash Flow Adds Support for ShareholdersSecond-quarter free cash flow reached $2.8 billion, up from $973 million a year earlier, as adjusted cash flow from operations increased to $4.39 billion. That gives EOG room to fund development while maintaining shareholder distributions.

EOG paid $540 million in regular dividends and repurchased $1.29 billion of shares during the quarter. The company targets returning at least 70% of annual free cash flow to shareholders, with $11.7 billion remaining under its repurchase authorization at June-end.

EOG Valuation Signals Higher Expectations AheadEOG's forward 12-month price-to-sales ratio is 2.82, slightly above its five-year median of 2.76 but below 3.60 for the Zacks sub-industry.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for earnings is $16.87 per share for 2026 before falling to $14.12 in 2027, increasing the importance of execution.

Image Source: Zacks Investment Research

Devon Energy Corporation (DVN - Free Report) operates across several U.S. oil and gas plays, including the Delaware Basin and Eagle Ford, making it a relevant diversified shale comparison. Diamondback Energy, Inc. (FANG - Free Report) focuses primarily on unconventional oil and gas reserves in the Permian Basin in West Texas, providing a more concentrated Permian peer.

EOG's Style Mix Keeps the Setup BalancedThe rally still has operating and cash-flow support, but the setup is less one-sided after the recent advance. Deep inventory, production growth and cash returns remain positives, while valuation and the lower 2027 earnings estimate leave less room for disappointment.

EOG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

It has a Growth Score of A, Momentum Score of A, Value Score of B and VGM Score of A. Those grades indicate favorable growth, momentum and blended style characteristics, but the Style Scores complement rather than override the Zacks Rank. The combination points to a balanced near-term setup rather than an aggressively bullish signal.

Bank of New York Mellon Corp bought a new stake in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,048,172 shares of the energy exploration company’s stock, valued at approximately $654,899,000. Bank of New York Mellon Corp owned 0.95% of EOG Resources as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Acumen Wealth Advisors LLC bought a new stake in EOG Resources in the 4th quarter valued at about $25,000. SJS Investment Consulting Inc. lifted its stake in shares of EOG Resources by 225.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 179 shares of the energy exploration company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Prosperity Bancshares Inc purchased a new stake in shares of EOG Resources during the 4th quarter valued at approximately $26,000. Nemes Rush Group LLC bought a new position in EOG Resources in the 4th quarter worth approximately $30,000. Finally, Financial Life Planners bought a new position in EOG Resources in the 1st quarter worth approximately $30,000. Institutional investors own 89.91% of the company’s stock.

Key EOG Resources News Here are the key news stories impacting EOG Resources this week:

Positive Sentiment: Zacks raised its estimates for EOG’s third-quarter 2026 EPS to $4.42 from $3.87, full-year 2026 EPS to $16.78 from $15.59, first-quarter 2027 EPS to $4.08 from $3.47, and full-year 2027 EPS to $14.03 from $13.05. The upward revisions suggest stronger expected near-term profitability and are the primary bullish catalyst. EOG Resources analyst estimates Positive Sentiment: Zacks also increased estimates for fourth-quarter 2026 EPS to $3.88, fourth-quarter 2027 EPS to $3.33, first-quarter 2028 EPS to $3.50, and full-year 2028 EPS to $13.18. These revisions indicate analysts continue to see support for EOG’s earnings outlook beyond 2026. Neutral Sentiment: Zacks maintained a “Hold” rating, tempering the impact of the higher forecasts. The current-year consensus EPS estimate remains $16.43, while the company’s latest reported quarter exceeded expectations and revenue increased sharply year over year. Negative Sentiment: Some longer-term estimates were reduced: second-quarter 2027 EPS fell to $3.26 from $3.33, and second-quarter 2028 EPS declined to $3.10 from $3.49. These cuts point to possible moderation in earnings growth later in the forecast period. Negative Sentiment: Higher Treasury yields—including the 30-year yield briefly reaching a 19-year high—could pressure income-oriented and valuation-sensitive energy stocks by making bonds more competitive and raising financing costs. Dividend Stocks Lost the Yield War But May Still Beat the Market EOG Resources Price Performance Shares of NYSE EOG opened at $152.33 on Friday. The stock’s 50-day simple moving average is $138.42 and its two-hundred day simple moving average is $134.87. EOG Resources, Inc. has a twelve month low of $101.59 and a twelve month high of $153.67. The firm has a market capitalization of $79.90 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.56 and a beta of 0.25. The company has a quick ratio of 1.68, a current ratio of 1.85 and a debt-to-equity ratio of 0.25. EOG Resources (NYSE:EOG – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.10. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the company posted $2.32 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that EOG Resources, Inc. will post 16.55 EPS for the current fiscal year.

EOG Resources Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $1.02 dividend. The ex-dividend date is Friday, October 16th. This represents a $4.08 annualized dividend and a yield of 2.7%. EOG Resources’s payout ratio is 31.75%.

Analysts Set New Price Targets A number of equities research analysts have issued reports on EOG shares. Sanford C. Bernstein lowered their target price on shares of EOG Resources from $167.00 to $155.00 and set a “market perform” rating on the stock in a report on Wednesday, May 20th. Stephens cut their price target on EOG Resources from $170.00 to $167.00 in a report on Wednesday, May 6th. Freedom Capital cut EOG Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wall Street Zen lowered EOG Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $175.00 price objective (up from $170.00) on shares of EOG Resources in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $155.41.

Check Out Our Latest Stock Report on EOG Resources

About EOG Resources (Free Report)

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

Featured Articles Five stocks we like better than EOG Resources 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.

BlackRock Inc. bought a new position in shares of EOG Resources, Inc. (NYSE:EOG – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,522,136 shares of the energy exploration company’s stock, valued at approximately $5,905,587,000. BlackRock Inc. owned about 8.68% of EOG Resources at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in shares of EOG Resources during the 2nd quarter worth $654,899,000. Deutsche Bank AG acquired a new stake in EOG Resources in the second quarter valued at about $251,102,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in EOG Resources in the second quarter valued at about $168,029,000. Arrowstreet Capital Limited Partnership grew its position in EOG Resources by 898.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,420,839 shares of the energy exploration company’s stock valued at $205,411,000 after acquiring an additional 1,278,555 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in EOG Resources by 24.2% during the fourth quarter. Franklin Resources Inc. now owns 6,443,453 shares of the energy exploration company’s stock worth $676,627,000 after acquiring an additional 1,257,110 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Wall Street Analysts Forecast Growth Several research firms have recently issued reports on EOG. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price objective (up from $170.00) on shares of EOG Resources in a research note on Thursday, July 2nd. Truist Financial boosted their target price on shares of EOG Resources from $134.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Capital One Financial reduced their target price on shares of EOG Resources from $161.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, June 3rd. Citigroup decreased their price target on shares of EOG Resources from $147.00 to $141.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Finally, Barclays set a $147.00 price target on shares of EOG Resources and gave the company an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $156.00.

Check Out Our Latest Research Report on EOG EOG Resources Price Performance EOG Resources stock opened at $145.95 on Tuesday. The stock’s 50 day moving average is $137.69 and its 200 day moving average is $134.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.85 and a quick ratio of 1.68. The firm has a market cap of $76.56 billion, a P/E ratio of 11.36 and a beta of 0.25. EOG Resources, Inc. has a one year low of $101.59 and a one year high of $151.87.

EOG Resources (NYSE:EOG – Get Free Report) last announced its earnings results on Tuesday, August 4th. The energy exploration company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.97 by $0.10. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.04 billion. EOG Resources had a return on equity of 23.44% and a net margin of 25.44%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 earnings per share. As a group, research analysts expect that EOG Resources, Inc. will post 16.43 EPS for the current year.

EOG Resources Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 16th. EOG Resources’s dividend payout ratio is currently 31.75%.

EOG Resources Company Profile (Free Report)

EOG Resources, Inc (NYSE: EOG) is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG’s core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

Featured Articles Five stocks we like better than EOG Resources Commodities Are Booming, But These 3 ETFs Tell Different Stories 3 Active ETFs Making Big Moves in August This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem Birkenstock Beats the Skeptics—But Not on EPS Want to see what other hedge funds are holding EOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EOG Resources, Inc. (NYSE:EOG – Free Report).

Receive News & Ratings for EOG Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EOG Resources and related companies with MarketBeat.com's FREE daily email newsletter.

EOG Resources is rated a buy, upgraded for its core asset durability, international optionality, and peer-leading shareholder returns. EOG's diversified multi-basin and international portfolio supports 16 years of premium drilling inventory and robust free cash flow at sub-$50 WTI. Q2 saw a record $2.8B adjusted free cash flow, $1.8B returned to shareholders, and a fortress balance sheet with $4.1B cash and $3.1B net debt.

Oil Could Dip, But These 3 Energy Stocks Still Look Built to WinEOG Resources NYSE: EOG reported record second-quarter financial results for 2026, supported by higher oil prices, lower operating costs and production volumes above the midpoint of its guidance range. The company also highlighted early production results from its United Arab Emirates exploration program and reaffirmed its full-year capital spending plan.

Chairman and Chief Executive Officer Ezra Yacob said adjusted earnings per share, adjusted cash flow per share and free cash flow each reached record levels during the quarter. He said the results reflected both favorable commodity pricing and “consistent, high-quality execution across the company.”

Get EOG Resources alerts:

3 Energy Stocks With Cheap Valuations and Big Returns AheadChief Financial Officer Ann Janssen said EOG generated adjusted earnings per share of $5.70 and adjusted cash flow from operations per share of $8.29. Free cash flow totaled $2.8 billion in the quarter.

The company returned just over $1.8 billion to shareholders, including $540 million through its regular dividend and $1.3 billion in share repurchases. Janssen said EOG had $11.7 billion remaining under its share repurchase authorization as of June 30 and reiterated its commitment to return at least 70% of annual free cash flow to investors in 2026.

5 S&P 500 Dividend Stocks Set to Reward InvestorsEOG ended the quarter with $4.9 billion of cash, an increase of about $1.1 billion from the first quarter, and net debt of $3 billion. Using strip pricing and the midpoint of its guidance, Janssen said the company’s 2026 plan is expected to generate $8 billion of free cash flow and has a WTI breakeven price below $50 per barrel.

Production outlook and operating costs Executive Vice President and Chief Operating Officer Jeff Leitzell said total company volumes exceeded the midpoint of EOG’s guidance, while lease operating expenses and gathering, processing and transportation expenses were lower than expected. Initial production from UAE exploration wells contributed nearly 500 barrels of oil per day to the company’s international segment.

Second-quarter capital expenditures were below the midpoint of guidance, mainly because of timing shifts in operations, particularly in the Gulf States, Leitzell said. EOG maintained its full-year 2026 capital expenditure plan of $6.5 billion and continues to expect 5% oil production growth and 14% total production growth.

In the Delaware Basin, EOG said year-to-date drilling feet per day increased 13% and completed lateral feet per day rose 5%. Direct well costs have fallen by $15 per foot year to date, averaging less than $710 per foot. The company’s Janus gas processing plant has averaged more than 99% utilization year to date and has provided a netback uplift of more than $0.65 per Mcf, according to Leitzell.

In the Eagle Ford, EOG reported a 4% increase in drilled feet per day and an 11% increase in completed lateral feet per day compared with 2025. Direct well costs in the play have declined to less than $525 per foot. The company also drilled what it described as its longest Eagle Ford lateral to date, at 24,115 feet.

Austin Chalk addition expands South Texas inventory EOG announced an Austin Chalk “sweet spot” in Lavaca County, Texas, where it has organically leased 60,000 net acres at an average cost of $1,200 per acre. The company said it has drilled more than a dozen wells confirming the prospect and identified about 125 remaining two-mile locations.

Leitzell said the acreage offers less than one-year payouts and returns above 100% at $65 WTI. The prospect adds roughly one year of drilling inventory at EOG’s current San Antonio division activity level, management said, and will be developed alongside the company’s core Eagle Ford program.

EOG also cited continued progress in its Dorado dry-gas asset and its acquired Utica position. In Dorado, direct well costs are below $700 per foot, down 7% from last year, while the Verde gas pipeline has generated a year-to-date netback uplift of $0.50 per Mcf. In the Utica, the company said it exceeded its $150 million synergy target from the Encino acquisition ahead of schedule and reduced direct well costs below $600 per foot.

UAE exploration wells exceed early expectations Much of the call focused on EOG’s early unconventional oil exploration activity in the UAE. The company drilled, completed and placed online two one-mile lateral wells in June. During their first 30 days of production, the wells averaged more than 25,000 barrels of oil per well, Yacob said.

The wells are naturally flowing up casing and are expected to be placed on artificial lift in the coming weeks. EOG described the early results as exceeding its expectations during the natural-flow period, while emphasizing that the program remains in its exploration phase.

Senior Vice President of Exploration and Production Keith Trasko said the two wells tested the same zone in a small pattern and that their fluid mix, gas-to-oil ratio and API gravity have been consistent with EOG’s pre-drill model. He said the company sees the Eagle Ford as a key geological analogy for the UAE opportunity.

EOG plans to pursue lateral lengths exceeding two miles in the UAE during the rest of 2026 and complete additional wells. The company holds a 900,000-acre concession and said it intends to test multiple areas and landing zones while evaluating longer-term well performance, artificial-lift response and the local service environment.

Yacob said EOG’s UAE agreement includes a three-year exploration phase in a joint-venture structure, with ADNOC holding an option to back in. He said the company is not operating under a strict timeline for commercial development and will continue to assess subsurface results, repeatability and available oilfield services.

Commodity outlook and international strategy Yacob said EOG remains constructive on oil market fundamentals despite expected volatility tied to the Iran conflict. He said disruptions to Middle Eastern crude and product supplies have reduced commercial inventories and strategic petroleum reserves, while energy security priorities could support future demand and inventory rebuilding.

Management also reiterated a constructive medium- and long-term natural-gas outlook, citing LNG exports, electricity demand, industrial growth and grid reliability. Yacob said EOG forecasts U.S. natural-gas demand growth of 3% to 5% annually through the end of the decade.

For 2027, Yacob said it was too early to provide specific plans but noted that EOG’s three-year framework contemplates low-single-digit oil growth in a $60 to $80 WTI environment. He said the company expects its multi-basin portfolio to preserve flexibility as it evaluates commodity markets and investment opportunities.

About EOG Resources (NYSE:EOG)EOG Resources, Inc NYSE: EOG is an independent exploration and production company headquartered in Houston, Texas. Tracing its corporate origins to Enron Oil & Gas Company in the late 1990s, the company established itself as a stand‑alone E&P operator and has grown into one of the largest U.S. upstream producers. EOG focuses on the exploration, development and production of crude oil, condensate, natural gas and natural gas liquids (NGLs).

As an upstream-focused company, EOG's core activities include geologic and geophysical exploration, drilling and completion of wells, reservoir development, and the marketing of hydrocarbon production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Should You Invest $1,000 in EOG Resources Right Now?Before you consider EOG Resources, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EOG Resources wasn't on the list.

While EOG Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.

Get This Free Report

EOG Resources, Inc. (EOG) Q2 2026 Earnings Call Transcript

EOG Resources (EOG - Free Report) came out with quarterly earnings of $5.07 per share, beating the Zacks Consensus Estimate of $5.01 per share. This compares to earnings of $2.32 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.20%. A quarter ago, it was expected that this oil and gas company would post earnings of $3.07 per share when it actually produced earnings of $3.41, delivering a surprise of +11.07%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

EOG Resources, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $8.62 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 9.56%. This compares to year-ago revenues of $5.48 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

EOG Resources shares have added about 38.7% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for EOG Resources?While EOG Resources has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for EOG Resources was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.99 on $7.28 billion in revenues for the coming quarter and $16.18 on $29.41 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, HighPeak Energy, Inc. (HPK - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10.

This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -70%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

HighPeak Energy, Inc.'s revenues are expected to be $274.1 million, up 36.8% from the year-ago quarter.