EOG
EOG Resources, Inc.
EOG's fundamentals are strong: revenue grew 32% and its operating margin rose 5 points to 36%. At 10x earnings, it's trading below its usual 11x. Analysts expect that strong growth to continue, though they disagree widely on how much.
EOG Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
EOG's revenue, profitability, cash flow and balance sheet are all currently strong.
EOG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.7x | $156 | — |
| Cheap | 9.2x | $142 | -8.6% |
| Current | 10x | $156 | — |
| Fair | 11x | $173 | +11% |
| Expensive | 17x | $257 | +65% |
Historical ranges are pointers, not guarantees.
EOG's PE is in its cheap range at 10x. If earnings grow as analysts expect, today's price would be 8.7x next year's earnings.
EOG Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for EOG, with profitability improving. However, they disagree widely on these estimates.
EOG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $17.98 | +16% |
| Q3 2026 | $15.49 | +54% |
| Q2 2026 | $12.86 | +25% |
| Q1 2026 | $10.17 | -5.8% |
| Q4 2025 | $9.12 | -19% |
| Q3 2025 | $10.06 | -19% |
| Q2 2025 | $10.31 | -20% |
| Q1 2025 | $10.80 | -15% |
| Q4 2024 | $11.25 | -13% |
EOG earned $15.49 per share over the past year, up 54% from the year before.
EOG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8.5B | +46% |
| Q2 2026 | $8.6B | +57% |
| Q1 2026 | $6.9B | +22% |
| Q4 2025 | $5.6B | +0.9% |
| Q3 2025 | $5.8B | -2% |
| Q2 2025 | $5.5B | -9.1% |
| Q1 2025 | $5.7B | -7.4% |
| Q4 2024 | $5.6B | -12% |
EOG's revenue has grown year over year for four quarters in a row: $8.5B last quarter, up 46% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 42% | +11 points |
| Q2 2026 | 41% | +9 points |
| Q1 2026 | 38% | +4.8 points |
| Q4 2025 | 17% | -12 points |
| Q3 2025 | 31% | -3.6 points |
| Q2 2025 | 32% | -3.5 points |
| Q1 2025 | 33% | -4.3 points |
| Q4 2024 | 29% | -11 points |
EOG's operating margin was 42% last quarter, up 11 points from the same quarter a year ago.
EOG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +26% |
| Q2 2026 | $4.5B | +133% |
| Q1 2026 | $2.8B | +29% |
| Q4 2025 | $2.5B | -5.5% |
| Q3 2025 | $2.9B | -12% |
| Q2 2025 | $1.9B | -25% |
| Q1 2025 | $2.2B | -14% |
| Q4 2024 | $2.6B | -10% |
EOG's free cash flow has been positive every quarter for seven years: $13.5B over the past year, up 39% from the year before.
EOG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -7M shares |
| 1 year | -4% | -22M shares |
| 3 years | -10% | -61M shares |
| 5 years | -11% | -62M shares |
| Available history | -10% | -58.8M shares |
EOG has 522M diluted shares, down 4% from a year ago, with $3.5B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.1B |
| Q2 2026 | $1.3B |
| Q1 2026 | $418M |
| Q4 2025 | $677M |
| Q3 2025 | $479M |
| Q2 2025 | $602M |
| Q1 2025 | $806M |
| Q4 2024 | $993M |
EOG spent $3.5B buying back its own shares over the past year, up 20% from the year before.
EOG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
EOG's net debt is less than a year of its operating earnings (EBITDA).
EOG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.8 | Neutral |
| Stochastic | 68.6 | Neutral |
EOG's weekly RSI is 57 (neutral) and its Stochastic is 69 (neutral).
EOG PE vs Energy Sector
| Metric | EOG | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 23% below |
| PE % | 29 | 61 | 32 pts below |
EOG is trading at 10x earnings, a 23% discount to the Energy sector's median of 13x.
EOG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $152.4 | 2.1% above |
| 20 week MA | $146.5 | 6.2% above |
| 50 week MA | $133.8 | 16% above |
| 100 week MA | $126.0 | 24% above |
| 200 week MA | $124.6 | 25% above |
EOG is in an uptrend: it's above all five of its weekly moving averages, and 25% above its 200-week average.
EOG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $83.1 | $49.6 | -40% |
| 2021 | $49.6 | $87.2 | +76% |
| 2022 | $87.2 | $130.6 | +50% |
| 2023 | $130.6 | $121.0 | -7.4% |
| 2024 | $121.0 | $120.4 | -0.5% |
| 2025 | $120.4 | $103.5 | -14% |
| 2026 YTD | $103.5 | $155.6 | +50% |
EOG has finished three years in a row lower, and it's up 50% so far in 2026.