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Four energy stocks - EOG, MRO, NBL, COG - to thrive on $45 oil, analyst says

Sep. 29, 2016 7:15 PM ETEOG Resources, Inc. (EOG) StockCVX, EOG, MRO, CTRABy: Carl Surran, SA News Editor21 Comments
  • S&P Global Market Intelligence’s Stewart Glickman highlights four stocks - EOG Resources (NYSE:EOG), Marathon Oil (NYSE:MRO), Noble Energy (NYSE:NBL) and Cabot Oil & Gas (NYSE:COG) - that can thrive even at $45/bbl oil.
  • The firm estimates nearly 6% production growth for EOG in 2017, a current net debt to capital ratio of ~33%, and projected cash from operations at 114% of anticipated 2017 capex - fundamental metrics that give EOG "a measure of safety even if the macro picture refuses to budge."
  • Glickman sees MRO with 2% production growth in 2017, which might seem mediocre but not in the context of its net debt to capital ratio (18%) and its free cash flow percentage for 2017 (128%).
  • The firm notes NBL's sizable domestic and international operations, with the company's strong acreage position in natural gas offshore Israel as a key catalyst.
  • Glickman sees COG with production growth of 8% in 2017, led by its prolific Northeast acreage, and with a net debt to capital ratio of just 23% and a free cash flow percentage of 146%.

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