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Clean Energy Fuels vs. EOG Resources: Which Natural Gas Stock is a Better Buy?

Stock MarketsJun 15, 2021 04:30PM ET
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© Reuters. Clean Energy Fuels vs. EOG Resources: Which Natural Gas Stock is a Better Buy?

Mounting climate change concerns are pushing governments worldwide to transition their countries’ economies to a renewable energy driven future in which natural gas is expected to play a key role. So, with that, we think it may be wise for investors to now take a closer look at two major players in this industry—Clean Energy Fuels (NASDAQ:CLNE) and EOG Resources (NYSE:EOG). But which of these two natural gas stocks is a better buy now? Let’s find out.Clean Energy Fuels (NYSE:UUUU) Corp. (CLNE) and EOG Resources, Inc. (EOG) are two established players in the natural gas sector. CLNE procures and distributes renewable natural gas (RNG) and conventional natural gas in the form of compressed natural gas (CNG) and liquefied natural gas (LNG) for the United States and Canadian transportation markets. EOG explores for, develops, produces, and markets crude oil and natural gas in major producing basins in several regions, including the United States, the United Kingdom, Canada and China.

Reduced natural gas production in the United States and record-high exports of LNG have been driving up the price of natural gas. An increasing demand for clean, low-carbon fuel is also expected to boost its price further. Also, as the major economies gradually reopen, the demand for natural gas is expected to go up even more given its application across several industries, such as energy generation and transportation. Investors’ increasing interest in the natural gas industry is evidenced by the United States Natural Gas Fund, LP’s (UNG) 11% gains over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 2.1% returns. So, we think both CLNE and EOG should witness solid upside going forward.

But while CLNE has gained 412.4% over the past year, EOG has returned 61.4%. CLNE’s more than 35% gain over the past month can be attributed to the meme craze because it is currently the most discussed stock on the subreddit WallStreetBets. However, in terms of year-to-date performance, EOG is a clear winner with 70.2% returns versus CLNE’s 42.1%. So, which of these two stocks is a better pick now? Let's find out.

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Clean Energy Fuels vs. EOG Resources: Which Natural Gas Stock is a Better Buy?
 

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