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EOG Resources EOG

EOG Resources scores good on business quality (6.1 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$148.16Oct 9, 2026
Business qualityGood
Next earningsNov 5, 2026, after the close
Insiders, 90 daysSelling

Why it matters

  1. What EOG Resources does

    EOG Resources explores and produces crude oil and natural gas, generating revenue by selling hydrocarbons extracted primarily from North American basins to refiners and marketers. The business is steering toward disciplined capital allocation, prioritizing cash return and operational efficiency over volume growth.

  2. What it does best

    EOG converts revenue into free cash flow at an elite level, posting an 83rd percentile FCF margin of 24.5% that outpaces peers like ConocoPhillips at 15.9%. This cost control stems from proprietary well-site execution and multi-basin flexibility.

  3. The main risk

    Commodity price volatility directly threatens cash generation, with revenue dropping 4.3% as underlying hydrocarbon prices fluctuate. Without pricing power, margin compression can swiftly erode cash returns if oil and gas benchmarks pull back.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margins hit 35.9% while return on equity reaches 22.4%, placing gross and FCF margins in the top quartile of the energy sector. This structure produces high profitability at scale without requiring aggressive top-line growth.

MoatFair

Low-cost operational efficiency forms a moat locking in high returns on capital across economic cycles, sitting in the 83rd percentile for gross margin at 79.5%. Rivals cannot easily replicate this drilling data network within a few years.

GrowthSlow

Revenue growth sits in the bottom quartile at -4.3%, lagging sector peers like EQT at 63.9% and FANG at 35.8%. The historical summary shows revenue contracting from $25.6B in 2022 to $27.0B, reflecting a deliberate pause in aggressive expansion.

Financial healthStrong

With a debt-to-equity ratio of 0.27 and interest coverage at 35.8x, debt servicing costs are trivial. Free cash flow of $6.6B funds $2.8B in buybacks and $2.2B in dividends, keeping the balance sheet exceptionally strong.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 sold $6.6M outside pre-planned sales.

Our sealed record on EOG

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is EOG a good business?

EOG Resources scores good on the Cluenex quality check (6.1 of 10), measured against its own industry. Profitability is strong, moat fair, growth slow and financial health strong.

Are insiders buying EOG?

In the last 90 days of SEC Form 4 filings: 2 sold $6.6M outside pre-planned sales.

When does EOG report earnings?

Nov 5, 2026, after the close.

For members

See EOG today

  • Today's verdict on EOG, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “EOG Resources (EOG)”, https://cluenex.com/stocks/eog/, data as of Oct 10, 2026.