EOG dropping?

[par_putt]

I have been on vacation for a couple of weeks. What is happening to EOG? Is this a great buy or should we wait a while for the price to drop more?

[setliff]

damn good question. there has been strong support at this level. see dan's post on aug 6 re eog. they complete wells in groups and this q and next will be several completions, whereas 2q there were few.

[dan_s]

EOG is labeled as a gasser by many on Wall Street when in fact it gets more than half of its revenues from the sale of crude oil. Plus its capital program is focused on more oil (Eagle Ford, Niobrara and Bakken). The same can be said for NFX.

You can find my current thoughts on EOG by going to our Sweet 16 tab and clicking on the "Sweet 16 Detailed Update".

EOG is on track to generate $12/share in cash flow from operations this year and cash flow is forecast to increase to $20/share in 2011. They also have double digit production and reserve growth locked in for at least the next five years.

Dan

[par_putt]

PRICE TARGET CHANGES: FRIEDMAN, BILLINGS & RAMSEY 09/01 08:00 AM



Friedman, Billings & Ramsey issued the following share price target changes on Tuesday:
Company Name Symbol New Trg Old Trg Current Time Span

INCREASE:

Cimarex Energy XEC $70.00 $65.00 $65.42 12 Months
Bingham Exploration BEXP $20.00 $15.00 $15.32 12 Months

DECREASE:

Apache Corp APA $105.00 $115.00 $89.85 12 Months
Chesapeake Energy CHK $26.00 $40.00 $20.68 12 Months
Devon Energy DVN $80.00 $85.00 $60.28 12 Months
EOG Resources EOG $105.00 $115.00 $86.87 12 Months
Petrohawk Energy HK $23.00 $30.00 $15.13 12 Months
Newfield Exploration NFX $65.00 $72.00 $48.01 12 Months
Noble Energy NBL $75.00 $80.00 $69.78 12 Months
Range Resources RRC $45.00 $60.00 $33.81 12 Months
Southwestern Energy SWN $38.00 $53.00 $32.72 12 Months
Comstock Resources CRK $25.00 $50.00 $21.77 12 Months
Plains Exporation & Pro PXP $30.00 $40.00 $23.88 12 Months
Rosetta Resources ROSE $25.00 $30.00 $19.70 12 Months
PetroQuest Energy PQ $7.00 $8.00 $5.98 12 Months