EOG
-
marc.wolin@yahoo.com
- Posts: 56
- Joined: Fri Jan 15, 2016 4:10 pm
EOG
Why is EOG being downgraded? It is down quite a bit. I always thought they were a great co. You might take a look at this? That has been one of my big investments. They never seem to be a buyer unless it is acreage they want. But they are always good at finding production.
Re: EOG
Hang tough with EOG. It is a great company and they are going to be paying much higher dividends in 2024.
Lots of upstream companies are being downgraded because a lot of the Wall Street Gang has lowered their oil & gas price decks. EOG does produce a lot of natural gas.
It will go up and down with the price of oil, but it will remain a classic "Growth + Income" stock for many years to come.
New Dividend Policy: Note from the CEO below.
"Substantial cash flow generation this year supported both our industry-leading regular dividend of $1.9 billion and an additional cash return of more than $2.1 billion through special dividends and share repurchases. EOG's total cash return to shareholders of $4.1 billion represents approximately 75% of our estimated full-year 2023 free cash flow.
"Going forward we are committing more cash to our shareholders. The increase in EOG's cash return commitment to a minimum 70% of annual free cash flow reflects EOG's financial strength and is consistent with our free cash flow priorities, which remain focused on creating long-term shareholder value.
"The 10% increase in our regular dividend demonstrates our confidence in EOG's future and our ability to support the higher dividend throughout commodity price cycles. Strong results quarter after quarter reflect continued improvement across EOG's low-cost, multi-basin portfolio, and our commitment to a sustainable, growing dividend is further supported by an industry-leading balance sheet. EOG is in a better position than ever to deliver value for our shareholders and play a significant role in the long-term future of energy."
Lots of upstream companies are being downgraded because a lot of the Wall Street Gang has lowered their oil & gas price decks. EOG does produce a lot of natural gas.
It will go up and down with the price of oil, but it will remain a classic "Growth + Income" stock for many years to come.
New Dividend Policy: Note from the CEO below.
"Substantial cash flow generation this year supported both our industry-leading regular dividend of $1.9 billion and an additional cash return of more than $2.1 billion through special dividends and share repurchases. EOG's total cash return to shareholders of $4.1 billion represents approximately 75% of our estimated full-year 2023 free cash flow.
"Going forward we are committing more cash to our shareholders. The increase in EOG's cash return commitment to a minimum 70% of annual free cash flow reflects EOG's financial strength and is consistent with our free cash flow priorities, which remain focused on creating long-term shareholder value.
"The 10% increase in our regular dividend demonstrates our confidence in EOG's future and our ability to support the higher dividend throughout commodity price cycles. Strong results quarter after quarter reflect continued improvement across EOG's low-cost, multi-basin portfolio, and our commitment to a sustainable, growing dividend is further supported by an industry-leading balance sheet. EOG is in a better position than ever to deliver value for our shareholders and play a significant role in the long-term future of energy."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group