EOG Resources Price Target Announced at $154.00/Share by Wells Fargo
7:53 AM ET 10/26/18 | Dow Jones
In the last 3 months, 14 ranked analysts set 12-month price targets for EOG. The average price target among the analysts is $143.62.
The 14 reports have price targets that range from $124 to $164.
EOG Price Target Raised
EOG Price Target Raised
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EOG Price Target Raised
After a very good earnings report the stock is down over $4.00. Their conference call starts at 10:00. Any comments?
Re: EOG Price Target Raised
TPH Comments this morning.
EOG Q3'18 Quick Look
Negative as capex increase comes without incremental production
Sector: NAm E&P | Ticker: EOG | Recommendation: HOLD | Target: $112 | Close: $106.89
Oil volumes of 415mbpd beat TPHe 412 / Street 410, while total production of 749mboepd beat TPHe 744 / Street 739. However, this comes with a meaningful step up in TILs at 201 net core wells vs TPHe 154 and Q2 at 156, driving a meaningful capex overshoot of $1,627MM ex-acquisitions vs TPHe $1,308MM / Street $1,380MM. FY'18 budget raised +$300MM to $5.9B at the midpoint as 2018 well count bumped +20 to 720. All eyes on Q4 spend as guidance implies spending of $1.0-1.2B, which is achievable given drop off in Permian completions (TPHe ~30% of Q4) but not an easy putt, with TPHe 156 core TILs remaining. Despite the capex bump, FY'18 oil midpoint relatively unchanged at ~399mbpd and Q4 oil midpoint of 432mbpd screens relatively in line with TPHe / Street. On the call, looking for color on 2019 thoughts. Clean EPS of $1.75 compares to TPHe $1.56 / Street $1.52 on realizations and G&P margin.
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I am updating my forecast/valuation model now. Numbers look good to me.
EOG Q3'18 Quick Look
Negative as capex increase comes without incremental production
Sector: NAm E&P | Ticker: EOG | Recommendation: HOLD | Target: $112 | Close: $106.89
Oil volumes of 415mbpd beat TPHe 412 / Street 410, while total production of 749mboepd beat TPHe 744 / Street 739. However, this comes with a meaningful step up in TILs at 201 net core wells vs TPHe 154 and Q2 at 156, driving a meaningful capex overshoot of $1,627MM ex-acquisitions vs TPHe $1,308MM / Street $1,380MM. FY'18 budget raised +$300MM to $5.9B at the midpoint as 2018 well count bumped +20 to 720. All eyes on Q4 spend as guidance implies spending of $1.0-1.2B, which is achievable given drop off in Permian completions (TPHe ~30% of Q4) but not an easy putt, with TPHe 156 core TILs remaining. Despite the capex bump, FY'18 oil midpoint relatively unchanged at ~399mbpd and Q4 oil midpoint of 432mbpd screens relatively in line with TPHe / Street. On the call, looking for color on 2019 thoughts. Clean EPS of $1.75 compares to TPHe $1.56 / Street $1.52 on realizations and G&P margin.
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I am updating my forecast/valuation model now. Numbers look good to me.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EOG Price Target Raised
I held this one thinking that it was one of the strongest in the sector and was hoping for some kind of bounce with good earnings, but obviously I was wrong. These stocks are destroying my portfolio and I have reached my limit of pain. Maybe this is the bottom but I'm out.
Re: EOG Price Target Raised
HOUSTON - EOG Resources, Inc. (EOG) today reported third quarter 2018 net income of $1.2 billion, or $2.05 per share. This compares to third quarter 2017 net income of $101 million, or $0.17 per share. Net cash from operating activities in the third quarter 2018 was $2.2 billion. < Compares to my forecast of $2,040.7 million Cash Flow From Operations.
Adjusted non-GAAP net income for the third quarter 2018 was $1.0 billion, or $1.75 per share, compared to adjusted non-GAAP net income of $111 million, or $0.19 per share, for the same prior year period. Please refer to the attached tables for the reconciliation of non-GAAP measures to GAAP measures. < Compares to my forecast of $882 million net income, $1.52 EPS.
EOG generated $2.3 billion of discretionary cash flow in the third quarter 2018. After considering exploration and development expenditures of $1.7 billion and dividend payments of $107 million, EOG produced free cash flow during the third quarter of $503 million.
Adjusted non-GAAP net income for the third quarter 2018 was $1.0 billion, or $1.75 per share, compared to adjusted non-GAAP net income of $111 million, or $0.19 per share, for the same prior year period. Please refer to the attached tables for the reconciliation of non-GAAP measures to GAAP measures. < Compares to my forecast of $882 million net income, $1.52 EPS.
EOG generated $2.3 billion of discretionary cash flow in the third quarter 2018. After considering exploration and development expenditures of $1.7 billion and dividend payments of $107 million, EOG produced free cash flow during the third quarter of $503 million.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group