Vivek Ramaswamy’s New ETF: Top 5 Stock Picks

4. EOG Resources, Inc. (NYSE:EOG)

Percentage of Strive U.S. Energy ETF’s Portfolio: 3.5%

Number of Hedge Fund Holders: 43

EOG Resources, Inc. (NYSE:EOG) explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids, primarily in the United States. On August 4, EOG Resources, Inc. (NYSE:EOG) declared a special cash dividend of $1.50 per share of the company’s common stock.  The dividend is payable on September 29 to investors of record at the close of business on September 15. As of September 8, EOG Resources, Inc. (NYSE:EOG) is offering a forward dividend yield of 2.47% and has free cash flows of $3.89 billion.

On August 26, MKM Partners analyst Leo Mariani raised his price target on EOG Resources, Inc. (NYSE:EOG) to $130 from $122 and reiterated a Buy rating on the shares.

EOG Resources, Inc. (NYSE:EOG) is on the rise and is still trading cheaply relative to earnings. As of September 8, EOG Resources, Inc. (NYSE:EOG) has gained 76.41% over the past twelve months and has a trailing twelve-month PE ratio of 12.17.

At the close of the second quarter of 2022, 43 hedge funds held stakes in EOG Resources, Inc. (NYSE:EOG). The total value of these stakes amounted to $933 million.

Here is what Oakmark Funds had to say about EOG Resources, Inc. (NYSE:EOG) in its “Oakmark Select Fund” first-quarter 2022 investor letter:

“EOG Resources (NYSE:EOG) (+36%), was among our top contributors in the quarter as oil prices rallied due to tight supplies, which were then exacerbated by the Russian invasion of Ukraine. Although their share prices have increased considerably, both companies still look quite undervalued even using longer term oil prices in the $65-70 dollar range. Meanwhile, if times are good over the next couple of years, we expect these companies to return significant percentages of their market caps to shareholders.”