Financial Performance - Total revenue for Q4 2024 was $5.585 billion, a decrease of 6.5% from Q3 2024 and a full-year revenue of $23.698 billion, down from $24.186 billion in FY 2023[3]. - Net income for Q4 2024 was $1.251 billion, resulting in a net income per share of $2.23, compared to $1.673 billion and $2.95 per share in Q3 2024[3]. - EOG's operating income for 2023 was $9.603 billion, with total operating expenses amounting to $14.583 billion[65]. - The company reported a net interest expense for FY 2024 of $173 million to $177 million, compared to $175 million in 2023[57]. - For FY 2024, the Reported Net Income (GAAP) was $8,218 million, with an Adjusted Net Income (Non-GAAP) of $6,612 million, translating to $11.62 per diluted share[86]. - The company reported total operating revenues of $5,585 million in Q4 2024, a decrease of 12.1% from Q4 2023's $6,357 million[111]. - The company’s operating income for 2024 was $8,082 million, down 15.8% from $9,603 million in 2023[114]. Cash Flow and Shareholder Returns - Generated $1.3 billion of free cash flow in Q4 2024, contributing to a total of $5.4 billion for the full year, with $5.3 billion returned to shareholders[4]. - The company repurchased $981 million of shares in Q4 2024, totaling $3.2 billion for the full year, reducing share count by approximately 5% since 2023[7][35]. - Declared a regular quarterly dividend of $0.975 per share, reflecting a 7% increase compared to 2024[34]. - Cash flow from operating activities totaled $11,340 million for 2023, with $3,255 million in Q1, $2,277 million in Q2, $2,704 million in Q3, and $3,104 million in Q4[70]. - Free cash flow for 2023 was $5,108 million, with an increase to $5,367 million projected for 2024, indicating a growth of about 5%[98]. Production and Reserves - EOG replaced 201% of 2024 production at a finding and development cost of $7.03 per Boe (GAAP) and $6.68 per Boe (Non-GAAP)[4]. - Total proved reserves increased by 6% in 2024, with extensions and discoveries adding 580 MMBoe and revisions other than price increasing reserves by 215 MMBoe, resulting in a 201% replacement ratio for total production[45]. - Proved reserves of crude oil and condensate increased from 1,756 MMBbl at the beginning of 2024 to 1,870 MMBbl at the end of the year, representing a net increase of 114 MMBbl[101]. - The company reported a total of 9,122 Bcf of natural gas reserves at the end of 2024, up from 8,930 Bcf at the beginning of the year, marking a net increase of 192 Bcf[101]. Capital Expenditures and Investment Plans - Announced a $6.2 billion capital plan for 2025 aimed at growing oil production by 3% and total production by 6%[4]. - The 2025 capital program is expected to range from $6.0 to $6.4 billion, focusing on exploration, development drilling, and strategic infrastructure projects[49]. - Total exploration and development expenditures for 2024 are projected to be $5,634 million, with significant allocations for development costs at $4,944 million[101]. Cost Management - Cash operating costs per Boe were $10.15 in Q4 2024, consistent with Q3 2024, and lower than the previous year[3][36]. - The company aims to mitigate costs and control capital expenditures amidst inflationary pressures, with a focus on operational efficiency[63]. - Total operating cost per Boe (including total exploration costs) was $26.86 in Q4 2024, compared to $25.20 in Q4 2023, indicating an increase of 6.6%[113]. Debt and Financial Position - Current and long-term debt increased to $4.752 billion in Q4 2024, with a debt-to-total capitalization ratio of 13.9%[3]. - The net debt-to-total capitalization ratio (Non-GAAP) was -8.7% as of December 31, 2024, indicating a strong financial position with more cash than debt[100]. - The debt-to-total capitalization (GAAP) ratio was 13.9% as of December 31, 2024, reflecting a stable leverage position[100]. Market and Pricing - The benchmark price for WTI crude oil is projected at $75.72 per barrel, down from $77.61 per barrel in 2024[57]. - Natural gas liquids realizations as a percentage of WTI are expected to range from 30.0% to 40.0%, with a midpoint of 35.0%[57]. - The composite average operating revenues per barrel of oil equivalent decreased to $60.97 in 2024 from $67.30 in 2023, a decline of approximately 19.4%[115]. Strategic Initiatives - EOG has entered into a strategic participation agreement with Bapco Energies for natural gas exploration in Bahrain, with planned drilling activity in 2025[52]. - The company is actively addressing cybersecurity threats and regulatory compliance to safeguard its operations and data integrity[63].

HOUSTON, Feb. 27, 2025 /PRNewswire/ -- EOG Resources, Inc. (EOG) today reported fourth quarter and full-year 2024 results. The attached supplemental financial tables and schedules for the reconciliation of non-GAAP measures to GAAP measures and related definitions, along with a related presentation, are also available on EOG's website at http://investors.eogresources.com/investors. Key Financial Results In millions of USD, except per-share, per-Boe and ratio data GAAP 4Q 2024 3Q 2024 2Q 2 ...

Group 1 - Integrated oil and gas majors like Exxon Mobil, Chevron, and Shell have certain advantages as they expand globally [1] - These companies have access to various resources and markets, enhancing their operational capabilities [1] Group 2 - The article reflects on the author's personal investment journey, highlighting the importance of early investment and market timing [1] - The author experienced significant returns on stock picks made during a market downturn, indicating potential opportunities in similar future scenarios [1]

Core Viewpoint - EOG Resources, Inc. is expected to report its fourth-quarter 2024 results on February 27, with adjusted earnings anticipated to show a year-over-year improvement despite challenges in natural gas pricing [1][2][5]. Earnings Performance - In the last reported quarter, EOG's adjusted earnings were $2.89 per share, surpassing the Zacks Consensus Estimate of $2.73, primarily due to increased production volumes [1]. - The Zacks Consensus Estimate for fourth-quarter earnings per share is $2.55, reflecting a 19.68% improvement from the prior year's reported figure [2]. - EOG has surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of 3.53% [2]. Revenue Expectations - The Zacks Consensus Estimate for revenues in the fourth quarter is $5.88 billion, indicating a 7.5% decrease from the previous year's figure [3]. Operational Factors - EOG Resources is expected to maintain stable performance in the fourth quarter, supported by productive acreages in key oil shale plays such as the Permian and Eagle Ford, along with numerous untapped high-quality drilling sites [4]. - However, the company may face challenges due to a decline in natural gas prices, which fell by approximately 10.6% in the fourth quarter compared to the previous year, influenced by increased production and milder weather [5][6]. Earnings Outlook - Current analysis suggests that EOG Resources may not achieve an earnings beat this quarter, with an Earnings ESP of -1.88% and a Zacks Rank of 2 (Buy) [7].

Core Viewpoint - Analysts forecast a decline in EOG Resources' quarterly earnings and revenues compared to the previous year, with earnings per share expected at $2.55, a 16.9% decrease, and revenues projected at $5.88 billion, down 7.5% year-over-year [1]. Earnings Estimates - The consensus EPS estimate has been revised 4.6% higher in the last 30 days, indicating a collective reevaluation by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and short-term stock performance [3]. Revenue Projections - Estimated revenues from natural gas are projected at $479.59 million, reflecting a year-over-year increase of 0.8% [5]. - Revenues from crude oil and condensate are expected to be $3.34 billion, showing a decline of 7.2% compared to the previous year [5]. - Revenues from natural gas liquids are forecasted to reach $519.77 million, indicating a 7.4% increase year-over-year [5]. - Revenues from gathering, processing, and marketing are anticipated to be $1.50 billion, representing a 2% increase from the prior year [6]. Volume Estimates - Total crude oil equivalent volumes per day are estimated at 1,098.49 million barrels, up from 1,026.2 million barrels a year ago [6]. - Total natural gas volumes per day are projected to reach 2,075.34 million cubic feet, compared to 1,831 million cubic feet in the previous year [7]. - Crude oil and condensate volumes per day are expected to be 493.75 million barrels, an increase from 485.2 million barrels year-over-year [7]. - Natural gas liquids volumes per day are projected at 259.74 million barrels, up from 235.8 million barrels in the same quarter last year [8]. - Total production is expected to reach 101.01 MBOE, compared to 94.4 MBOE in the same quarter last year [8]. Price Estimates - Average natural gas prices per mcf in Trinidad are expected to be $3.74, down from $3.81 a year ago [9]. - Average crude oil and condensate prices per bbl in the United States are projected at $72.28, compared to $80.61 in the previous year [9]. - The consensus estimate for average crude oil and condensate prices per bbl in Trinidad stands at $59.84, down from $69.21 year-over-year [10]. Stock Performance - EOG Resources shares have increased by 1% over the past month, contrasting with a -0.5% change in the Zacks S&P 500 composite [11]. - The company holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the overall market in the near term [11].

Group 1: Altria Group - Altria Group offers a competitive dividend yield of 7.65% with a share price of $53 [2] - The company has increased its dividend payment for 56 consecutive years, with a three-year growth rate of 4.35% [3] - Analysts give Altria a Hold rating, with earnings expected to increase by 4.14% over the next year, indicating potential for further dividend increases [4] Group 2: Verizon Communications - Verizon Communications has a dividend yield of 6.44% and has grown its dividend for 20 consecutive years, averaging an annual increase of 0.64% [7] - The stock maintains a Moderate Buy rating with a predicted 9.34% potential upside in the next year, supported by institutional investment interest [8] - Ongoing investments in 5G and broadband services may provide further growth opportunities for Verizon [9] Group 3: EOG Resources - EOG Resources has a dividend yield of 2.90% and a three-year dividend growth history of 23.07% [11] - The company maintains a conservative payout rate of 31.40%, allowing for financial flexibility during economic stress [12] - EOG's solid financials and efficient operations position it well for future growth amid strong global energy demand [13] Group 4: Simon Property Group - Simon Property Group offers a dividend yield of 4.51% and has a three-year dividend growth rate of 11.46% [15] - The company currently pays out 115.70% of its earnings as dividends, which analysts consider unsustainable, contributing to a Hold consensus rating [16] - Simon's strong real estate portfolio and adaptability to retail trends may stabilize its long-term outlook despite potential volatility [17] Group 5: Morgan Stanley - Morgan Stanley offers a dividend yield of 2.78% with a three-year annualized dividend growth of 19.13% [18] - The stock maintains a Hold rating consensus, with a predicted downside of 1.74% and increased short interest indicating potential near-term weakness [19][20] - The company's diversified business model and focus on asset management may provide stability in uncertain market conditions [20]

Group 1 - Laura Starks is the founder and CEO of Starks Energy Economics, LLC, established in 2007, with a background in chemical engineering and an MBA focused on finance [1] - The company specializes in analyzing various sectors within the energy industry, including utilities, independent power producers, energy service companies, petrochemical companies, and all segments of oil and natural gas: upstream, midstream, and downstream [1] - Starks has a beneficial long position in shares of EOG, DVN, COP, and CRGY, indicating a personal investment interest in these companies [1]

Core Viewpoint - EOG Resources is outperforming its Oils-Energy sector peers in year-to-date returns, indicating a positive investment opportunity for investors interested in this sector [1][4]. Company Performance - EOG Resources is ranked 6 in the Zacks Sector Rank among 247 companies in the Oils-Energy group [2]. - The stock currently holds a Zacks Rank of 2 (Buy), reflecting a favorable earnings outlook [3]. - Over the past three months, the Zacks Consensus Estimate for EOG's full-year earnings has increased by 2.3%, indicating improving analyst sentiment [4]. - Year-to-date, EOG Resources has returned approximately 5.1%, outperforming the Oils-Energy sector average return of 3.1% [4]. - EOG is part of the Oil and Gas - Exploration and Production - United States industry, which ranks 42 among 34 companies, while this industry has seen an average loss of 16.3% this year [6]. Comparison with Peers - Sunoco LP (SUN) has also outperformed the Oils-Energy sector with a year-to-date return of 9.6% and a Zacks Rank of 1 (Strong Buy) [5]. - The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes Sunoco LP, has moved up by 10% this year, but it ranks 157 among 6 stocks [7].

Core Points - EOG Resources, Inc. announced the retirement of Donald F. Textor from its Board of Directors at the end of his current term, with no plans for re-election at the 2025 annual stockholders meeting [1] - Textor has served on EOG's Board since 2001 and has a notable background as a senior security analyst in the oil and gas sector, contributing to EOG's growth and success [1][2] - The company has expressed gratitude for Textor's contributions, highlighting his role in navigating commodity price cycles and delivering shareholder value [2] Company Overview - EOG Resources, Inc. is one of the largest crude oil and natural gas exploration and production companies in the United States, with proved reserves in the U.S. and Trinidad [3]

Group 1: Tariff Impact on Energy Markets - U.S. President Donald Trump's tariffs include a 25% tariff on Canadian and Mexican exports and a 10% levy on Chinese imports, aimed at addressing illegal immigration and drug trade concerns, leading to volatility in commodity and energy markets [1] - Goldman Sachs predicts that Canadian oil producers will face a $3-$4 per barrel widening of the Canadian crude discount due to limited alternative export routes, while U.S. refiners and consumers will see an additional cost burden of $2-$3 per barrel [2] - The energy sector, being a major consumer of steel and aluminum, may experience slowed infrastructure projects and reduced profitability due to higher raw material costs from tariffs [5] Group 2: Natural Gas Market Effects - The impact on natural gas exports is expected to be more muted, with Goldman Sachs forecasting a modest decline of 0.16 billion cubic feet per day in Canadian natural gas exports to the United States due to the tariffs [3] Group 3: Potential Benefits for U.S. Oil Producers - Tariffs on foreign oil imports may make domestically produced crude more attractive, potentially benefiting shale producers as refiners seek alternatives within the country [6] Group 4: U.S. Energy Companies Positioned to Benefit - EOG Resources, Cheniere Energy, and Exxon Mobil Corporation are identified as U.S. energy companies likely to gain from the evolving tariff landscape, with EOG Resources currently holding a Zacks Rank 2 (Buy) and the other two holding a Zacks Rank 3 (Hold) [7] - EOG Resources focuses on high-efficiency production, particularly in the Permian and other shale basins, with a market capitalization of around $71.1 billion and shares rising 14.5% over the past year [8] - Cheniere Energy, a leading U.S. LNG exporter, may see increased demand for American liquefied natural gas as Canadian exports face challenges, with a market capitalization of approximately $51.5 billion and shares climbing 42.4% over the past year [9] - ExxonMobil, with a market capitalization of about $470.7 billion and shares rising 7.5% over the past year, is well-positioned to benefit from constrained Canadian crude imports, particularly in its upstream operations in the Permian Basin [10]