EOG Resources (EOG) Q1 Earnings Beat on Solid Oil Production

Published on 7 May 2024 on Zacks via Yahoo Finance

EOG Resources (EOG) Q1 Earnings Beat on Solid Oil Production

EOG Resources Inc EOG reported robust first-quarter 2024 results, with both earnings and revenues beating the Zacks Consensus Estimate.

Although the quarterly results were strong, the stock price has dipped 1% since its earnings release on May 2, a movement unrelated to the company's fundamentals. It is cheap now, and the current affordability of the stock is evident from its trailing 12-month enterprise value-to-EBITDA (EV/EBITDA) ratio, which stands at 5.32, notably lower than the Zacks US Oil & Gas Exploration & Production industry average of 6.85.

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EOG Resources (EOG) Q1 Earnings Beat on Solid Oil Production

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