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EOG Resources

EOG on NYSE. EOG Resources sells crude oil, natural gas and liquids to energy buyers. Market value $75.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
8.8%high

For every $100 of what the whole company costs, it produced $8.75 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
8.8×cheap

You pay 8.8 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
23.5%five-year median

Each dollar kept in the business earns 24 cents a year. Above 10 is good.

Quality score: 100 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.

$144.08 a share, 42% above its 1-year low

Over the past year the price has ranged from $101.59 to $154.16.

Dividend: 2.9% a year

Paid every year for at least 5 years

Prices from Monday’s close (5 October).

Five years of cash, in billions

4.9
6.1
5.2
5.8
3.5
6.6
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $6.6 billion in the past 12 months, $3.5 billion in the year to December 2025.

Revenue
$18.6bn$25.7bn$24.2bn$23.7bn$22.6bn
Operating margin
32.7%38.8%39.7%34.1%28.2%
Debt to equity
0.240.210.140.170.27
Shares outstanding
0.59bn0.58bn0.56bn0.54bn0.52bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)4 of 7 checks we could run
  • Profit backed by cash (accruals)No
  • Debt0.27× equity
  • Revenue growth, five yearsStrong, 15.5% a year
  • Buying back its own sharesYes, 11% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $8.6 billion last quarter, up 57% on a year ago.
  • Profit: $2.7 billion, up 103% on a year ago.
  • It keeps 33 cents of each $1 of sales as operating profit, up from 32 cents a year earlier.
  • Spare cash over the past 12 months: $6.6 billion, up from $4.5 billion.
  • 3% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $3 billion more than cash. A year ago it had $980 million more cash than debt.
  • Sales grew on a year ago in 3 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$6.0bn
December 2024$5.6bn
March 2025$5.7bn
June 2025$5.5bn
September 2025$5.8bn
December 2025$5.6bn
March 2026$6.9bn
June 2026$8.6bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$1.7bn
December 2024$1.3bn
March 2025$1.5bn
June 2025$1.3bn
September 2025$1.5bn
December 2025$701m
March 2026$2.0bn
June 2026$2.7bn

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
5 November 2026
Last annual report (10-K)
24 February 2026
Next quarterly (estimated, 10-Q)
3 November 2026

Who owns it

15 long-term investors we follow own it, down from 16 last quarter. 1,634 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 5 sold $11m, $2m of it under preset trading plans.

  • Leitzell Jeffrey R.
    EVP & COO
    Sold
    under a preset trading plan
    Date
    25 September 2026
    Shares
    9,039
    Price
    $140.61
    Value
    $1m
  • Donaldson Michael P
    EVP & Chief Legal Officer
    Sold
    Date
    11 September 2026
    Shares
    7,336
    Price
    $148.00
    Value
    $1m
  • Yacob Ezra Y
    Chairman & CEO, Director
    Sold
    Date
    24 August 2026
    Shares
    35,942
    Price
    $152.10
    Value
    $5m
  • CRISP CHARLES R
    Director
    Sold
    Date
    28 May 2026
    Shares
    1,887
    Price
    $136.17
    Value
    $256,953
  • Leitzell Jeffrey R.
    EVP & COO
    Sold
    Date
    31 March 2026
    Shares
    5,698
    Price
    $150.32
    Value
    $856,523
  • Janssen Ann D.
    EVP & Chief Financial Officer
    Sold
    Date
    19 March 2026
    Shares
    4,161
    Price
    $140.04
    Value
    $582,706
  • Janssen Ann D.
    EVP & Chief Financial Officer
    Sold
    Date
    12 March 2026
    Shares
    2,597
    Price
    $134.32
    Value
    $348,820
  • Leitzell Jeffrey R.
    EVP & COO
    Sold
    under a preset trading plan
    Date
    3 March 2026
    Shares
    2,000
    Price
    $130.00
    Value
    $260,000
  • Leitzell Jeffrey R.
    EVP & COO
    Sold
    under a preset trading plan
    Date
    2 March 2026
    Shares
    1,774
    Price
    $126.57
    Value
    $224,535
  • Leitzell Jeffrey R.
    EVP & COO
    Sold
    under a preset trading plan
    Date
    19 February 2026
    Shares
    2,000
    Price
    $125.00
    Value
    $250,000

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Feb 2026, plus the 10-Q filed 4 Aug 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • Our continued initiatives to increase operating efficiencies may not be successful in offsetting any future inflationary pressures on our operating costs and capital expenditures.

    Could happen
    We have undertaken (and continue to undertake) initiatives to increase our drilling, completions and operating efficiencies and improve the performance of our wells. Such initiatives include (among others): (i) our downhole drilling motor program; (ii) enhanced techniques for completing our wells; (iii) drilling extended laterals; and (iv) our self-sourced sand program. In addition, from time to time (when available and advantageous), we enter into agreements with service providers to secure the costs and availability of certain drilling and completions services we utilize as part of our operations.
    Read more

Read it in the annual report

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.