Brean Murray Carret Raises Price Target on EOG Resources (EOG), Buyers on Eagle Ford Potential
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Price: $146.15 +2.48%
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Brean Murray Carret & Co. is reaffirming its Buy rating on shares of EOG Resources (NYSE: EOG), while raising its price target from $113 to $141.
The company reported strong Q4 results as earnings topped the firm's estimate by $0.13 and the Street's consensus by $0.27. Shares did trade down on February 17 following comments from the company's CEO that the 3,000+barrel/day IP rates at the Eagle Ford wells recently are not properly representing the average of the wells in the play.
An analyst at Brean Murray Carret comments, "We view EOG's 3,200 undrilled, ~76% ATROR Eagle Ford locations as the single greatest reason to own the stock, but improving crude oil price realizations, liquids growth momentum in other core plays and visible balance sheet discipline all point to a continuation of EOG's linear growth trajectory in 2012."
For FY12 and FY13, the firm raised its EPS estimates from $4.64 and $4.95 to $5.17 and $5.39.
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 $114.35 yesterday.
The company reported strong Q4 results as earnings topped the firm's estimate by $0.13 and the Street's consensus by $0.27. Shares did trade down on February 17 following comments from the company's CEO that the 3,000+barrel/day IP rates at the Eagle Ford wells recently are not properly representing the average of the wells in the play.
An analyst at Brean Murray Carret comments, "We view EOG's 3,200 undrilled, ~76% ATROR Eagle Ford locations as the single greatest reason to own the stock, but improving crude oil price realizations, liquids growth momentum in other core plays and visible balance sheet discipline all point to a continuation of EOG's linear growth trajectory in 2012."
For FY12 and FY13, the firm raised its EPS estimates from $4.64 and $4.95 to $5.17 and $5.39.
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 $114.35 yesterday.
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