Strong Cash Flow to Support EOG Resources’ (EOG) Robust Pipeline Amid Oil Supply Headwinds; RBC Capital Remains Bullish

Core Insights - EOG Resources, Inc. has garnered significant hedge fund interest and is listed among the top 12 commodity stocks to buy currently [1] - RBC Capital maintains a price target of $145 for EOG Resources, reflecting a bullish outlook [2] Financial Performance - EOG Resources reported a net income of $1.5 billion and free cash flow of $1.4 billion for Q3 [2] - The company achieved an adjusted EPS of $2.71 and adjusted operating cash flow per share of $5.57 [2] - EOG's quarterly dividend payments reached a record high of nearly $550 million, with regular dividends increasing by 8% year-over-year [2] Shareholder Returns - EOG Resources committed $1 billion to dividends and share repurchases during the quarter [2] - Buybacks amounted to nearly $450 million [2] Financial Guidance - The company raised its free cash flow guidance to $4.5 billion [2] - EOG ended the quarter with $3.5 billion in cash and $7.7 billion in long-term debt [2] Operational Resilience - EOG Resources remains confident in its operational resilience despite short-term oil supply challenges, supported by a robust portfolio including the Delaware Basin, Eagle Ford, Utica, and emerging gas plays [2]