EOG Resources - Q2 Results

[dan_s]

EOG's Q2 cash flow from operations per share was $1.79, which compares to Q1 CFPS of $1.78.

Oil production beat my forecast and the company raised full year production guidance. Lower than forecast ngas and NGL prices offset higher production.

EOG is sticking with their capital program for this year, which should set up 15% to 25% production growth in 2018. Production ramps up into year-end. Hopefully with higher prices.

EOG only has a tiny amount of their production hedged, so this one is all about were oil, gas and NGL prices are heading.

My valuation adjusts to $103/share, which compares to First Call's target price of $104.31.