EOG Resources, Inc. (EOG) Stock

EOG Resources, Inc. (EOG) is a Energy stock trading at $151.64 (as of 2026-08-20), with a market capitalization of $79.54B and a trailing P/E of 11.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensate reserves; 829 MMBbl of natural gas liquid reserves; and 8,222 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.

Understand EOG Resources, Inc.: how it makes money

EOG Resources explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids, earning money from selling the energy it produces, mainly from assets in New Mexico and Texas (United States) and Trinidad and Tobago.

EOG's profit model is production-driven, it relies on converting its proved crude oil, natural gas, and natural gas liquids reserves into marketed volumes from its core producing areas (New Mexico and Texas, plus Trinidad and Tobago).

Business quality (Strong): Strong, resource-based upstream business model, but with limited segment transparency here, and results likely tied closely to production and market conditions.

Valuation: At 13× earnings, EOG trades 26% below the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

Large, disclosed proved reserves: EOG reported total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels of crude oil and condensate, 829 million barrels of natural gas liquids, and 8,222 billion cubic feet of natural gas (as of December 31, 2021).
Focused operating footprint: Its principal producing areas are New Mexico and Texas in the United States, and the Republic of Trinidad and Tobago, which can support operational focus around known basins.

Bear case

Geographic concentration risk: Because EOG's principal producing areas are concentrated in New Mexico and Texas, and Trinidad and Tobago, disruptions or adverse changes in any of these regions could affect output.
Commodity mix and market sensitivity: EOG's business is centered on crude oil, natural gas, and natural gas liquids, so performance can be pressured when the economics of these commodities change.

Valuation — source: SEC EDGAR (first-party)
Price	$151.64
Market Cap	$79.54B
P/E Ratio	11.6
EV / EBITDA	6.0
Price / Book	2.50
Price / Sales	2.94
DCF Value (model)	$140.41
DCF Upside vs Price	-7.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$22.63B
Net Margin	22.0%
Revenue Growth (YoY)	57.4%
EPS Growth (YoY)	108.9%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.94 (safe)

Valuation vs Sector & Industry
Stock P/E	11.6
Sector P/E (Energy)	16.8
Industry P/E (Petroleum & Natural Gas)	16.7
vs Sector	-31.0%
vs Industry	-30.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Capital World Investors ($7.50B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	Ezra Y. Yacob
Employees	3,150
Country	US
IPO Date	1989-10-04

Related Companies (Business model: Exploration & Production (Upstream Oil & Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.