EOG Resources (EOG) Update - Mar 11

[dan_s]

I hope to finish updating our profile on EOG today. My valuation increases by $13 to $164.

TipRanks 3/7/2022: "RBC Capital analyst Scott Hanold raised the firm's price target on EOG Resources to $140 from $125 and keeps an Outperform rating on the shares. While it needs to be recognized that the company has a stellar track record of returning cash to shareholders, investors would prefer a "more prescriptive" plan for EOG's shareholder returns, similar to other peers, the analyst tells investors in a research note. Hanold adds that EOG's production is on pace to at least reach pre-COVID oil production levels by the end of 2022."

EOG's production increased by 9.9% in 2021 and, based on the Company's guidance it will increase by 7% to 12% YOY in 2022. My guess is that the high end of their guidance is likely.