Is EOG Resources, Inc. overvalued or undervalued?

As of 3 May 2024, EOG Resources, Inc. has moved from an expensive to a fair valuation grade. The company is currently fairly valued based on its metrics. Key ratios include a P/E ratio of 10, an EV to EBITDA of 4.89, and a Price to Book Value of 2.11.
In comparison to peers, EOG's P/E ratio is lower than ConocoPhillips, which stands at 22.15, and Pioneer Natural Resources Co. at 13.11, indicating a more attractive valuation. Additionally, EOG's EV to EBITDA is also competitive when compared to Diamondback Energy, Inc. at 6.46. Despite recent underperformance against the S&P 500 over the past year, EOG has shown strong long-term growth with a 132.54% return over five years, suggesting potential for future appreciation.