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EOG Resources' (EOG) Permian Activities to be Flat This Year
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EOG Resources, Inc. (EOG - Free Report) believes that its activities in the Permian, the most prolific basin in the United States, will be the same as last year, per Reuters.
The leading upstream player, like most exploration and production companies, is strongly focusing on shareholder returns. This is primarily because shareholders are asking upstream firms like EOG Resources to focus more on returning capital to them rather than putting more efforts in production. This is among two driving factors that are convincing the firm to keep its Permian activities flat, according to the source. The other factor is inflation, which is keeping prices of supplies and equipment high.
EOG Resources is aligning its operations with shareholder interests and hence is currently offering dividend yield higher than the composite stocks belonging to the industry. Its current dividend yield of 2.35% is higher than 1.9% yield of the industry’s composite stocks. EOG also has a strong balance sheet, as reflected in its debt-to-capitalization ratio of 17.6%, significantly lower than 31.1% of the industry’s composite stocks.
Currently, EOG Resources carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include Halliburton Company (HAL - Free Report) , MPLX LP (MPLX - Free Report) and DCP Midstream, LP . While Halliburton and MPLX carry a Zacks Rank #2 (Buy), DCP Midstream sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Halliburton is well known for providing products and services to energy companies. Over the past seven days, HAL has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
MPLX has ownership and operating interests in midstream energy infrastructure and logistics assets, thereby generating stable cashflows. With a strong focus on returning capital to unit holders, MPLX announced that as of third-quarter 2022-end, it had roughly $1 billion available under its unit repurchase authorizations.
DCP Midstream is a leading provider of midstream services, having a fully integrated and resilient business model. With 12 billion cubic feet of natural gas storage assets, the master limited partnership has 2.8 billion cubic feet of daily natural gas pipeline capacity. DCP Midstream strongly focuses on strengthening its balance sheet with the foremost priority of reducing debt load.
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EOG Resources' (EOG) Permian Activities to be Flat This Year
EOG Resources, Inc. (EOG - Free Report) believes that its activities in the Permian, the most prolific basin in the United States, will be the same as last year, per Reuters.
The leading upstream player, like most exploration and production companies, is strongly focusing on shareholder returns. This is primarily because shareholders are asking upstream firms like EOG Resources to focus more on returning capital to them rather than putting more efforts in production. This is among two driving factors that are convincing the firm to keep its Permian activities flat, according to the source. The other factor is inflation, which is keeping prices of supplies and equipment high.
EOG Resources is aligning its operations with shareholder interests and hence is currently offering dividend yield higher than the composite stocks belonging to the industry. Its current dividend yield of 2.35% is higher than 1.9% yield of the industry’s composite stocks. EOG also has a strong balance sheet, as reflected in its debt-to-capitalization ratio of 17.6%, significantly lower than 31.1% of the industry’s composite stocks.
Currently, EOG Resources carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include Halliburton Company (HAL - Free Report) , MPLX LP (MPLX - Free Report) and DCP Midstream, LP . While Halliburton and MPLX carry a Zacks Rank #2 (Buy), DCP Midstream sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Halliburton is well known for providing products and services to energy companies. Over the past seven days, HAL has witnessed upward earnings estimate revisions for 2022 and 2023, respectively.
MPLX has ownership and operating interests in midstream energy infrastructure and logistics assets, thereby generating stable cashflows. With a strong focus on returning capital to unit holders, MPLX announced that as of third-quarter 2022-end, it had roughly $1 billion available under its unit repurchase authorizations.
DCP Midstream is a leading provider of midstream services, having a fully integrated and resilient business model. With 12 billion cubic feet of natural gas storage assets, the master limited partnership has 2.8 billion cubic feet of daily natural gas pipeline capacity. DCP Midstream strongly focuses on strengthening its balance sheet with the foremost priority of reducing debt load.