Louis Navellier’s Top 5 Stock Picks for Q4 2022

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

Navellier & Associates’ Stake Value: $10.23 million

Percentage of Navellier & Associates’ 13F Portfolio: 2.27%

Number of Hedge Fund Holders: 52

EOG Resources, Inc. (NYSE:EOG) is a Texas-based company that is engaged in the exploration, development, production, and marketing of hydrocarbons, including crude oil, natural gas, and natural gas liquids. Louis Navellier’s hedge fund reported holding 91,571 shares of EOG Resources, Inc. (NYSE:EOG) as of Q3 2022.

Citi analyst Scott Gruber raised the price target on EOG Resources, Inc. (NYSE:EOG) to $160 from $150 and kept a Buy rating on the shares post the Q3 results on November 22.

Among the hedge funds tracked by Insider Monkey, EOG Resources, Inc. (NYSE:EOG) was part of 52 public stock portfolios at the end of the third quarter of 2022, compared to 43 funds in the earlier quarter. Harris Associates held the leading position in the company, comprising 7.04 million shares worth $787.4 million.

Here is what Oakmark Select Fund has to say about EOG Resources, Inc. (NYSE:EOG) in its Q1 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.”