Deutsche Bank Upgrades EOG Resources (EOG) to Buy; Eagle Ford Leverage Set to Differentiate
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Price: $142.61 +0.85%
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank upgraded EOG Resources (NYSE: EOG) to Buy with a price target of $125.00.
Deutsche analyst says, "Strong 2H11 production trends sets the stage for 2012. We expect EOG to be among the large-cap E&Ps capable of beating street numbers and raising growth (and EPS/CFPS) expectations as the year progresses. Performance from the core Eagle Ford asset is the key to this outlook; well results are improving, costs are under control, and infrastructure is set to deliver added flexibility in 2012e. This change has shifted the risk profile from those surrounding execution (costs, logistics, timing) to one primarily driven by commodity price."
"We expect EOG to outspend organic cash flow by 140% at the current forward curve. While asset sales and cash on hand ($1.4 Bn) are the planned funding route, the stock is amongst the most levered to lower crude prices amongst our coverage group."
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 $102.17 yesterday.
Deutsche analyst says, "Strong 2H11 production trends sets the stage for 2012. We expect EOG to be among the large-cap E&Ps capable of beating street numbers and raising growth (and EPS/CFPS) expectations as the year progresses. Performance from the core Eagle Ford asset is the key to this outlook; well results are improving, costs are under control, and infrastructure is set to deliver added flexibility in 2012e. This change has shifted the risk profile from those surrounding execution (costs, logistics, timing) to one primarily driven by commodity price."
"We expect EOG to outspend organic cash flow by 140% at the current forward curve. While asset sales and cash on hand ($1.4 Bn) are the planned funding route, the stock is amongst the most levered to lower crude prices amongst our coverage group."
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 $102.17 yesterday.
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