Better Buy: ConocoPhillips vs. EOG Resources
ConocoPhillips (NYSE: COP) and EOG Resources, Inc. (NYSE: EOG) are among the few upstream companies that have adapted well in the new oil price environment. Though both are focused on increasing shareholder returns by growing dividends, their strategies to attain this objective differ. ConocoPhillips has trimmed higher-cost assets and achieved a much lower cost of supply while simultaneously reducing leverage. In comparison, EOG has achieved a much lower cost of supply while continuing to grow production. But which of the two is better?
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In the first nine months of 2019, EOG Resources' production rose 15% year over year. The company has also been adding to its proved reserves. Lower costs and increased well productivity have enabled EOG Resources to grow production even when other players are slowing down. The company expects its oil production to grow by 15% in the U.S. in 2020 if oil prices remain around $55 per barrel.
Source Fool.com