Validea's Top Energy Stocks Based On Benjamin Graham - 8/18/2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 18 2024
0mins
Should l Buy EOG?
Source: NASDAQ.COM
Top Rated Energy Stock: EOG Resources Inc. is highlighted as a top-rated energy stock according to Validea's Value Investor model, scoring 71% based on Benjamin Graham's deep value methodology, which emphasizes low P/B and P/E ratios, low debt, and solid long-term earnings growth.
Company Overview: EOG Resources is involved in crude oil and natural gas exploration and production, primarily operating in major U.S. basins and Trinidad, with significant holdings in the Eagle Ford and Dorado plays.
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Analyst Views on EOG
Wall Street analysts forecast EOG stock price to rise
19 Analyst Rating
9 Buy
10 Hold
0 Sell
Moderate Buy
Current: 117.850
Low
114.00
Averages
135.56
High
161.00
Current: 117.850
Low
114.00
Averages
135.56
High
161.00
About EOG
EOG Resources, Inc. is a crude oil and natural gas exploration and production company. The Company explores, develops, produces, and markets crude oil, natural gas liquids (NGLs) and natural gas primarily in major producing basins in the United States, the Republic of Trinidad and Tobago (Trinidad) and, from time to time, selects other international areas. Its operations are located in the basins of the United States with a focus on crude oil and natural gas plays. It is focused on the Wolfcamp, Bone Spring, and Leonard plays. The South Texas area includes the Eagle Ford play and the Dorado gas play. It holds approximately 535,000 total net acres in the Eagle Ford play and approximately 160,000 net acres in the Dorado gas play. In Trinidad, the Company, through its subsidiaries, including EOG Resources Trinidad Limited, holds interests in the exploration and production licenses covering the South East Coast Consortium (SECC) and Pelican Blocks, Banyan and Sercan Areas, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Stock Gains: The JPMorgan stock purchased by Britt has risen 27% since her acquisition, while Google shares surged 106%, highlighting the sensitivity of her trading timing and potential conflicts of interest.
- Minimal Legal Consequences: Despite the Stock Act violations, Britt faces only a $200 fine, which is less than typical speeding ticket amounts in many states, raising public concerns about the enforcement of such laws.
- Investor Losses: Many retail investors missed the opportunity to invest in the stocks Britt traded, particularly as Apple, Amazon, and Google experienced significant price increases before her trades were disclosed.
See More
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- Natural Gas Producers in Focus: The surge in natural gas prices due to Winter Storm Fern has put companies like Antero Resources and EOG Resources in the spotlight, with analysts predicting significant upside potential for these producers amid production disruptions.
- Equipment Manufacturers at Risk: The freezing of natural gas equipment and pipelines could halt operations for energy transfer companies such as Energy Transfer and Kinder Morgan, potentially impacting their production and revenue.
- Power Supply Assurance: PJM, the largest U.S. power grid, has warned of a potential winter peak, prompting CenterPoint Energy and Duke Energy to implement emergency plans to ensure reliable power supply during the storm.
- Airline Industry Disruption: The storm has led to the cancellation of over 9,400 flights by airlines including Delta, JetBlue, and United Airlines, causing widespread travel disruptions and affecting numerous travelers nationwide.
See More
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- Natural Gas Price Surge: Natural gas prices have jumped 70% in less than two weeks, reaching record highs, which has driven Excelerate Energy (EE) stock up 28% this month, reflecting strong market demand and renewed investor confidence in natural gas supply.
- Production Loss Estimates: Natural gas production is projected to decrease by 10 to 80 billion cubic feet, similar to the 30 billion cubic feet loss caused by Winter Storm Uri in 2021, potentially leading to supply tightness and impacting price volatility in the market.
- Utility Challenges: Heavy snow and freezing rain could lead to widespread power outages for utilities like Exelon (EXC) and NRG Energy (NRG), with analysts projecting a 42% upside for NRG's stock price, indicating confidence in its recovery capabilities amid adverse weather conditions.
- Infrastructure Investment Opportunities: As concerns over grid reliability increase, companies like Quanta Power Services (PWR) may benefit from power line repairs and infrastructure investments, with analysts expecting this to drive long-term investment growth in the energy sector.
See More
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- Price Target Adjustment: Scotiabank analyst Paul Cheng lowered EOG Resources' price target from $130 to $123 while maintaining a 'Sector Perform' rating, indicating a cautious outlook on U.S. integrated oil and large-cap E&P stocks.
- Rating Downgrade: KeyBanc downgraded EOG Resources from 'Overweight' to 'Sector Weight' without a price target, citing clear signs of degradation in both the Eagle Ford and Delaware Basin, suggesting operational challenges ahead for the company.
- Market Environment Impact: Given the current low oil prices and high volatility in natural gas, KeyBanc adopts a more selective view of the sector as it enters 2026, which could negatively affect EOG's market performance.
- Investment Potential Comparison: While EOG Resources is seen as having investment potential, analysts note that certain AI stocks offer greater upside potential with less downside risk, reflecting a shift in market focus towards different investment areas.
See More
Trump Reaches Greenland Deal Framework, S&P 500 Rises 1.16%
- Market Rally: Following President Trump's announcement of a framework deal with NATO regarding Greenland, the S&P 500 rose by 1.16%, the Dow Jones by 1.21%, and the Nasdaq 100 by 1.36%, indicating a positive market response to policy stability.
- Bond Yields Decline: The 10-year T-note yield fell by 4 basis points to 4.25%, supported by concerns over Fed independence and rising Japanese bond yields, which contributed to the stock market's recovery.
- Gold Prices Hit Record: Amid the Greenland crisis prompting safe-haven buying, gold prices surged by 1% to a new record high, reflecting increased market anxiety and heightened demand for gold as a store of value.
- Natural Gas Surge: Natural gas prices soared over 24% to a six-week high, driven by an Arctic cold front expected to boost heating demand, leading to significant gains in natural gas-producing stocks and showcasing the energy market's robust activity.
See More
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- Market Rebound: The S&P 500 index rose by 1.06%, the Dow Jones Industrial Average increased by 0.97%, and the Nasdaq 100 climbed by 1.33%, reflecting a positive market reaction to Trump's Greenland acquisition negotiations, alleviating Tuesday's sell-off pressure.
- Geopolitical Risks: Trump's statement about seeking immediate negotiations to acquire Greenland, labeling it as part of North America, has raised concerns about potential trade confrontations with Europe, which could impact future market stability.
- Natural Gas Surge: Natural gas prices surged over 21% to a six-week high, driven by an impending cold front in the eastern U.S. that boosts heating demand, potentially disrupting production and further stimulating related stock gains.
- Economic Data Focus: U.S. MBA mortgage applications rose by 14.1% in the week ending January 16, indicating a rebound in home-buying demand, while December pending home sales fell by 9.3%, suggesting ongoing market challenges, prompting investors to watch upcoming economic data closely.
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