(C) Reuters. EOG Resources vs. Occidental: Which Oil & Gas Stock is a Better Buy?
With the economy reopening, the demand for oil and gas is heading back to normal levels. This has been a boon to the oil and gas industry and stocks such as EOG Resources (NYSE:EOG) and Occidental Petroleum Corporation (NYSE:OXY). Both companies stand to benefit from this trend, but which is a better buy right now? Read more to find out.Oil and gas stocks are garnering significant attention from investors around the world. The Colonial pipeline hack has ramped up oil demand and prices. The return to societal and economic normalcy certainly bodes well for the stock prices of publicly traded oil and gas companies.
As long as demand for oil and gas continues to rise as life returns to normal, the industry’s top players stand to benefit. Even if sales of electric vehicles skyrocket in the years ahead, it will take more than a decade for the majority of the world’s drivers to hang up the gas pump for good in favor of rechargeable batteries. In other words, the oil and gas industry might have an epic dead cat bounce in the year ahead.
If you are like most investors, you are not exactly sure which oil and gas stocks are deserving of your hard-earned investing dollars. Fret not, as I have identified two of the most intriguing stocks in this segment: EOG Resources (EOG) and Occidental Petroleum Corporation (OXY).
EOG Resources vs. Occidental: Which Oil & Gas Stock is a Better Buy?
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