EOG Resources (EOG) moving back to S-16 - Mar 13

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EOG Resources (EOG) moving back to S-16 - Mar 13

Post by dan_s »

I have decided to move EOG from our High Yield Income Portfolio back into the Sweet 16 to replace Ranger Oil (ROCC) that is merging into Baytex.

EOG pays a nice dividend (~8% annual yield based on my forecast), but the more significant upside is the share price appreciation potential.

TipRanks: "In the last 3 months, 16 ranked analysts set 12-month price targets for EOG. The average price target among the analysts is $153.69. The 16 fresh price targets range from $140 to $172."

EOG was trading at $111.21 at the time of this post.

I will finish my review of our updated profile on EOG this morning and it will be posted to the EPG website this afternoon.

Full Year 2022 Highlights and 2023 Capital Plan
• Generated $7.6 billion free cash flow and returned $5.1 billion to shareholders
• Offset most inflation to deliver total production above original plan for capex 2% above original plan
• Replaced 244% of 2022 production at finding and development cost of $5.13 per Boe
• Reduced GHG intensity and methane percentage to achieve 2025 targets
• Announced $6.0 billion capital plan to grow oil production 3% and total production 9%
Dan Steffens
Energy Prospectus Group
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