Canaccord Genuity Maintains a 'Buy' on EOG Resources (EOG); Raising PT and Oil Output Estimates

May 11, 2012 9:03 AM EDT Send to a Friend
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Price: $96.03 --0%

Rating Summary:
    27 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 19 | New: 16
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Canaccord Genuity maintains a 'Buy' on EOG Resources (NYSE: EOG) price target raised $1 to $148.

Analyst, John Gerdes, said, "We are increasing our target price due to higher liquids production partly offset by lower NGL/gas price realizations. EOG offers upside similar to the group in our view as it garners a slightly lower multiple (’12E EBITDA) and generates slightly less CFPS growth (’12-’14E). Notably, the Eagle Ford comprises about one-third of capital outlays. We believe the company’s Eagle Ford position generates the highest returns available in any large-scale resource play in North America, as several wells have tested at over 3,000 Bopd...We increased our ’12 estimate 2% to 462 Boepd. Our ’12 liquids growth expectation rose 3% to 36%."

For an analyst ratings summary and ratings history on EOG Resources click here. For more ratings news on EOG Resources click here.

Shares of EOG Resources closed at $106.51 yesterday.


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Analyst EPS Change, Analyst EPS View, Analyst PT Change

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