EOG Resources, Inc. EOG has gained 51% year to date (YTD), surpassing the 43% rise of the composite stocks belonging to the industry. The leading upstream energy firm is likely to see earnings growth of 64% this year.Factors Working in FavorThe price of West Texas Intermediate crude, trading at more than the $75 per barrel mark again, is still favorable for upstream operations. EOG Resources, a leading oil and natural gas exploration and production company currently carrying a Zacks Rank #3 (Hold), is thus well-placed to capitalize on the promising business scenario. It has an estimated 11,500 net undrilled premium locations, resulting in a brightened production outlook.EOG Resources is strongly committed to returning capital to shareholders. Since it transitioned to premium drilling, the company has returned $10.4 billion in cash to stockholders. With the employment of premium drilling, EOG will be able to reduce its cash operating costs per barrel of oil equivalent, thereby aiding its bottom line.Image Source: Zacks Investment ResearchRisksAlthough EOG Resources is committed to returning capital to shareholders, it has consistently been paying lower dividend yields than the composite stocks belonging to the energy sector over the past five years.Rising lease and well-operating costs are hurting the company’s bottom line.Last WordOverall, the business scenario will possibly remain favorable for EOG Resources. With the transition to premium drilling and footprint in prolific basins, the company has more room to gain.Stocks to ConsiderBetter-ranked players in the same space include Marathon Petroleum Corporation MPC, PBF Energy Inc. PBF and Equinor ASA EQNR. All the stocks carry a Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Marathon Petroleum is a well-known name in the downstream space and is the operator of the largest refining system in the nation. It has a strong focus on returning capital to shareholders. Over the past 30 days, Marathon Petroleum has witnessed upward earnings estimate revisions for 2022 and 2023.PBF Energy is a leading North American independent refiner. It is highly inclined to reduce debt load and has reinstated its regular quarterly dividend. Over the past seven days, PBF Energy has witnessed upward earnings estimate revisions for 2022 and 2023.On the Norwegian continental shelf, Equinor is the largest producer of natural gas. In Europe, it is the second largest in terms of supplying gas. According to Equinor, its most important markets for gas in Europe are England, France and Germany. These reflect the degree of dependence of Europe on Equinor for gas. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EOG Resources, Inc. (EOG): Free Stock Analysis Report Marathon Petroleum Corporation (MPC): Free Stock Analysis Report PBF Energy Inc. (PBF): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research