EOG Resources Inc $ 36.28 0.09 (0.25%)
EOG Resources Inc News and Headlines -
U.S. stocks were in the red on Tuesday morning. The Dow retreated more than 125 points, or 0.42%, to 28,724, while the S&P 500 index fell 0.43% to 3,519 and the Nasdaq Composite Index was down 0.29%, to 11,841.
- Waters Corp (WAT) +3.6%
- Walt Disney Co (DIS) +3.3%
- EOG Resources Inc (EOG) +4.6%
- Clorox Co (CLX) +2.3%
- Autozone Inc (AZO) +1.6%
- Royal Caribbean Cruises Ltd (RCL) -10.6%
- Norwegian Cruise Line Holdings Ltd (NCLH) -6.5%
- Carnival Corp (CCL) -5.6%
- Vulcan Materials Co (VMC) -3.6%
- Martin Marietta Materials Inc (MLM) -3.8%
On the U.S. side, we sold EOG Resources (EOG) to harvest a tax loss. We continue to believe that EOG is one of the best positioned energy producers, but current economic activity has not rewarded that position. In our June letter, we wrote about the takeover offer that another holding, CoreLogic, had received. Because of this offer, the stock attained a price close to our estimate of intrinsic value and we sold our shares to purchase more attractive names.
From [url=https://www.gurufocus.com/StockBuy.php?GuruName=David+Herro]David Herro[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=David+Herro]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=David+Herro]Portfolio[/url])'s Oakmark Global Fund third-quarter 2020 shareholder commentary.
The Oakmark Select Fund was up 5.2% for the quarter, trailing the S&P 500 Index's 8.9% return. For the fiscal year ending September 30, 2020, the Oakmark Select Fund decreased by 2.5%, compared to a 15.2% gain for the S&P 500 Index. As has been well-documented, this past year has continued a particularly difficult period for value managers; the Russell 1000 Value Index declined by 5.0% over the same 12-month period. We expect no capital gain distribution this year.
The most significant contributors to performance during the quarter were Ally Financial (ALLY) (+28%) and Charter Communications (CHTR) (+22%). For the
Hindered by a decrease in global travel and an economy that is still trying to recover from the coronavirus pandemic, oil prices are expected to continue to struggle going into the final quarter of the year.
CNBC reported that analysts forecast the prices of Brent and West Texas Intermediate crude should increase to the low to mid-$40s per barrel over the next several months, but there is still potential for another drop as demand isn't picking up as quickly as previously anticipated.
On Friday morning, the commodity slid even further on the news that President Donald Trump and First Lady
The Dow Jones Industrial Average closed at 27,534.58 on Thursday with a loss of 405.89 points or -1.45%. The S&P 500 closed at 3,339.19 for a loss of 59.77 points or -1.76%. The Nasdaq Composite closed at 10,919.59 for a loss of 221.97 points or -1.99%. The VIX Volatility Index was higher at 29.71 for a gain of 0.90 points or 3.12%.
Thursday's market movers
U.S. indexes closed lower Thursday, wiping out much of the gains from Wednesday's rebound. Futures were positive at the opening, but investor sentiment was swayed by concerns over a stimulus package that didn't pass Senate
After falling 1% on Monday in anticipation of the OPEC meeting this week, oil prices on Tuesday recovered from another initial dip despite fears that renewed lockdown orders following a spike in coronavirus cases will hamper the nascent recovery in demand.
West Texas Intermediate Crude futures gained 0.85% to $40.44 per barrel, while Brent crude futures rose 1% to $43.14 per barrel.
As the number of new Covid-19 cases and hospitalizations soared in a number of states, most notably California, Florida and Texas, some restrictions on businesses have been reinstated. As such, the market will be
One of these purchases was the result of our decision to revamp the Fund’s energy exposure to reduce its oil service component and introduce exposure to high-quality exploration and production. As a result, we purchased EOG Resources (EOG), which we believe is one of the best positioned U.S. energy companies. The key to EOG’s story is the company’s management team. It has focused intensely on capital productivity and, as a result, has made EOG a true low-cost producer. It has also allocated the company’s capital effectively, giving EOG a strong balance sheet. This should enable the company to survive—and
It was a terrible quarter for the world, the markets and the Oakmark Global Fund. We will not repeat here all that you have been reading about the spread of the coronavirus and the efforts to “flatten the curve.” Government action, both in terms of public health and economics, has been unprecedented around the globe. Hundreds of economic stimulus efforts have been put into effect, including a $2 trillion plan in the U.S., but despite all of these efforts, economic revival depends more on the outcomes in the public health and medical community. Stock market volatility has
EOG Resources (EOG) is the largest independent onshore oil producer in the U.S. Although there are many inexpensive companies in the energy space, few, in our view, can match EOG’s combination of balance sheet strength, management ability, and diversified asset base. It is a conservatively run company with minimal leverage and efficient operations, which is highly likely to make it through this tough period unscathed. EOG is trading at a larger discount than peers to our estimate of the value of its current asset base, and it has a management team with a long history of creating shareholder value
As markets attempt to rebound from lows stemming from the coronavirus outbreak, six high financial strength stocks John Rogers (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) agree on are Cardinal Health Inc. (CAH), Costco Wholesale Corp. (COST), EOG Resources Inc. (EOG), Keysight Technologies Inc. (KEYS), Microsoft Corp. (MSFT) and Tiffany & Co. (TIF).
The All-in-One Guru Screener, a Premium feature, allows users to find stocks that multiple gurus own. Figure 1 illustrates an example for Rogers and Jones.
Select the gurus you wish to combine the
Falling knives refer to stocks whose share prices have fallen more than 59% over the last 12 months. Some investors purchase shares of these securities because they expect that their prices will bounce back, generating impressive rewards.
The harsh fall in the share price, however, could be due to underlying business and financial issues, which may cause serious damage to the wealth of an investor if the business goes bankrupt. Thus, investors must be aware of the risk they run when keeping these investments in their portfolio.
Falling knives with a moderate to low debt-equity ratio may lower the risk
There is not a lot of good news surrounding the energy sector these days. Many have shunned the entire industry as a form of investment, and in terms of public relations, the group has become something of a pariah for institutional investors and fund managers due to increasing awareness and demand for action surrounding climate change.
Last year was a particularly painful year for energy stocks, which returned just 5% against a 28% return for the S&P 500. The past month has been particularly brutal on the already hard-hit sector. During the fourth quarter, profits were anemic, including an eye-popping
BP Capital Fund Advisors (Trades, Portfolio), the investment firm founded by the late T. Boone Pickens , who passed away this past September, disclosed three new positions in its fourth-quarter 2019 portfolio this week.
The legendary oil tycoon’s Texas-based firm transitioned to a family office structure in 2018, but still operates two energy-focused mutual funds. When picking stocks, the portfolio managers look for companies that will benefit from changes in the U.S. oil and gas industry.
Based on these criteria, BP Capital established positions in PDC Energy Inc.
Bill Nygren (Trades, Portfolio) and his partners at Oakmark are value investors. They buy companies at a substantial discount to intrinsic value. Oakmark focuses on free cash flows, intelligent investment of excess cash and a high level of insider/manager ownership. Oakmark's Win Murray was interviewed by CNBC on December 24, 2019.
Murray starts off by saying that "you never wake up in the morning wishing you had a chance to buy an energy company."
Energy has been a significant laggard in recent quarters. There has been a huge amount of underinvestment in the sector, and major energy
To achieve long-term capital appreciation, the guru, who also manages the Chicago-based firm’s Select and Global Select funds, invests in mid- and large-cap companies. When picking stocks, he looks for growing companies that have shareholder-oriented management teams. According to the fund’s fact sheet, he prefers to take a position when the stock is trading at a substantial discount to his estimate of intrinsic value, then waits for the gap between the two to close before selling.
Affiliated Managers GroupÂ
The guru increased the Affiliated Managers Group Inc. (AMG) position by 12.86% in the second quarter and then added 28.23% in the third quarter. The stock has a weight of 0.65% in the portfolio.
The investment strategies provider has a market cap of $4.16 billion. Its revenue of $2.24 billion has grown at an average rate of 0.80% per annum over the last
BP Capital Fund Advisors, the investment firm founded by the late T Boone Pickens (Trades, Portfolio), who passed away in September, disclosed eight new holdings in its third-quarter portfolio earlier this week.
The legendary oil tycoon’s Texas-based firm, which transitioned to a family office structure last year, operates two energy-focused mutual funds. When picking stocks, the portfolio managers look for companies that will benefit from the changing landscape of the U.S. oil and gas industry.
Based on these criteria, BP Capital’s five largest new buys for the quarter were Chevron Corp. (CVX), BP PLC (BP), Nutrien Ltd.
U.S. stocks were in the green on Monday as more companies reported financial results. The Dow Jones Industrial Average gained 0.24% to 26,883, the S&P 500 Index rose 0.65% to 3,005 and the Nasdaq Composite Index jumped 0.88% to 8,161.
Shares of Halliburton Co. (HAL) gained almost 6% on Monday after the company announced third-quarter results. The company posted earnings of 34 cents per share on $5.55 billion in revenue. It fell $270 million short of revenue expectations, but earnings were in line with estimates.
The operating income for the quarter was $536 million, a decline of 3% from the
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Its shares traded with a price-earnings ratio of 20.04 and a price-sales ratio of 8.10 as of Oct. 18. The trailing 12-month dividend yield is 5.47%. The forward dividend yield is 5.60%. The company had an annual average earnings
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