10 Cash-Rich Undervalued Stocks To Invest In

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

P/E Ratio as of March 3: 11.28

TTM Operating Cash Flow as of December 31, 2024: $12,143,000,000

Number of Hedge Fund Holders: 62

EOG Resources, Inc. (NYSE:EOG) is a Texas-based company engaged in the exploration, development, production, and sale of crude oil, natural gas liquids, and natural gas. EOG Resources announced on February 28 that it is taking its shale expertise to the Persian Gulf, collaborating with Bahrain’s Bapco Energies to develop an onshore tight-gas field. Drilling is set to start in the second half of 2024 once the final approvals are in, but production will not commence until 2026. EOG Resources, Inc. (NYSE:EOG) is one of the best cash rich stocks to watch out for.

EOG brought in $6.6 billion in adjusted net income last year, delivering a 25% return on capital. It also returned 98% of its free cash flow to shareholders through dividends and stock buybacks. In 2024, the company invested $6.2 billion in new projects, which helped grow oil production by 3% and total company volume by 8%. EOG Resources, Inc. (NYSE:EOG)’s reserves also increased by 6% to 4.7 billion barrels of oil equivalent, replacing 201% of what was produced, excluding price changes. Driven by this robust performance, the company returned a record $5.3 billion to shareholders, far surpassing its 70% free cash flow return commitment.

Insider Monkey’s fourth quarter database suggests that 62 hedge funds were bullish on EOG Resources, Inc. (NYSE:EOG), up from 56 funds in the last quarter. Harris Associates was the largest position holder in the company, with 8 million shares worth $989.3 million.