EOG Resources

EOG

Oil & Gas Exploration & Production · Energy

Price

$139.89

+1.43 (+1.03%)

Market Cap

$74.51B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−7.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 584.0M (2021) → 539.2M (2025)

EOG Resources is an oil and natural gas company. It finds oil and gas underground, drills wells to bring it to the surface, and sells it to refineries, utilities, and other energy companies. EOG is one of the largest independent oil producers in the United States, with major operations in the Permian Basin, Eagle Ford, and Bakken shale regions.

EOG makes money by selling crude oil, natural gas, and natural gas liquids at market prices. It operates mostly in the U.S., with some international activity in Trinidad and Tobago and other areas. The company's edge comes from owning high-quality drilling locations and using data and technology to keep its costs lower than many rivals, which helps it stay profitable even when oil prices fall. The biggest risk EOG faces is a sustained drop in global oil and gas prices, since its revenue is directly tied to commodity markets it cannot control.

Winston Score History

Politician Trades

12 trades / 12mo

5 Congressional buys and 7 sells on EOG in the last 12 months.

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Score breakdown

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Quality

Gross Margin

77.8%

Premium pricing power — 77.8% gross margin

Operating Margin

44.1%

Excellent — 44.1% operating margin

ROCE

6.5%

Weak — 6.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

-3.5%

Shrinking sales (-3.5% YoY)

EPS YoY

-18.9%

Earnings shrinking (-18.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

202%

Turns 202% of profit into real cash

FCF Margin

15.8%

Converts sales into free cash efficiently (15.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.28

Conservative — low debt load (0.28)

Interest Cover

36.05x

Comfortably covers interest (36.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.3x

Fair value — P/E 15.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+6.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.3 → 8.9)

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Dividends

Dividend Yield

3.06%

Moderate income — 3.06% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+6.4%

Dividend growing modestly (6.4% YoY)

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