EOG Resources (EOG) Update - May 10

[dan_s]

The note below is from Neil Dingmann at Truist Financial

EOG Resources, Inc. (EOG, $83.10, Buy)
- Incremental Shareholder Return and Return Requirements Please Investors;
Increase PT to $100
EOG has massaged their prior strategic plans now focusing primarily on increasing shareholder return though still ensuring solid production growth. We forecast the company to generate at least $3.5B of FCF this year equating to at least a 7% FCF yield and even higher next year. The sizeable FCF provides the company with numerous financial options such as the recent $1.00/sh special dividend along with other shareholder returns or various enterprise focused options such as
incremental exploration or development plans. - Neal Dingmann

EOG is the largest company in the Sweet 16 and is my Top Pick in our "Elite Eight" for safety. My valuation is $109.