#2 - EOG Resources (NYSE:EOG)
Continuing in the oil and gas sector, we believe that EOG Resources (NYSE:EOG) is a strong large-cap stock to buy. This is a pure-play stock for the oil and gas industry. So if you’re buying it, you’re anticipating that inflationary pressures will remain. And given the recent remarks by the Federal Reserve that seems like a reasonable bet to make.
However, there’s more to like about EOG Resources then rising commodity prices. The company took aggressive cost-cutting measures in 2020 and 2021 and now that oil prices are back on the rise, much of those initiatives should appear on the company’s bottom line.
EOG stock is up 80% in 2021, but several analysts have boosted their price targets since the company’s last earnings report and forecast about 14% more stock price growth in the next year. The company has increased its dividend in each of the last five years.
About EOG Resources
EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.
Read More - Current Price
- $124.71
- Consensus Rating
- Hold
- Ratings Breakdown
- 9 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $143.50 (15.1% Upside)
