Zacks likes EOG and FANG

Zacks likes EOG and FANG

Postby dan_s » Thu Nov 25, 2021 2:42 pm

Zacks Rank #1 (Strong Buy) for both EOG and FANG. My current valuations are $132 for EOG and $158 for FANG.

Zacks' comments below.

EOG Resources (EOG) reported third-quarter 2021 adjusted earnings per share of $2.16, beating the Zacks Consensus Estimate of $2.01. Strong earnings were driven by increased production volumes and a higher realization of commodity prices.

EOG announced a quarterly dividend of 75 cents per share, indicating an 82% increase from the previous level. The dividend will be paid out on Jan 28, 2022, to its shareholders of record as of Jan 14, 2022. EOG Resources also declared a special dividend of $2 per share. Moreover, the board of directors updated its share repurchase authorization to $5 billion.

Diamondback Energy (FANG) reported third-quarter 2021 adjusted earnings of $2.94 per share, which surpassed the Zacks Consensus Estimate of $2.81 and the year-ago quarter’s earnings of 62 cents. FANG’s bottom line was aided by better-than-expected production.

The board of directors declared a dividend of 50 cents per share for the third quarter, accounting for an 11.1% hike in Diamondback Energy’s quarterly payout from the previous level of 45 cents. The amount will be paid out on Nov 18, 2021, to its shareholders of record as of Nov 11. FANG also generated a free cash flow of $740 million in the third quarter.
Dan Steffens
Energy Prospectus Group
dan_s
 
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Joined: Fri Apr 23, 2010 8:22 am

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