EOG
Posted: Sat Jun 27, 2015 3:35 pm
In a report published Friday, Wunderlich analyst Irene O. Haas maintained a Buy rating and $116 price target on EOG Resources Inc (NYSE: EOG). The analyst believes that the company is well positioned to return to growth in 2016.
Following a visit to the company's Houston office, the analyst believes that EOG resources is "reasonably" bullish on the outlook for crude oil.
"Based on its own analysis, the company is feeling more bullish about crude prices than the current forward curve might suggest," Haas stated, adding, "The massive rig count reduction should lead to a drop in production with a 4-to-6 month lag due to pad drilling. Furthermore, the company believes that the magnitude of the "frac log" might be smaller than estimated and that fewer players are delaying completions than the market thinks."
Full article: http://finance.yahoo.com/news/wunderlic ... 12769.html
My Fair Value Estimate for EOG is $114/share.
Following a visit to the company's Houston office, the analyst believes that EOG resources is "reasonably" bullish on the outlook for crude oil.
"Based on its own analysis, the company is feeling more bullish about crude prices than the current forward curve might suggest," Haas stated, adding, "The massive rig count reduction should lead to a drop in production with a 4-to-6 month lag due to pad drilling. Furthermore, the company believes that the magnitude of the "frac log" might be smaller than estimated and that fewer players are delaying completions than the market thinks."
Full article: http://finance.yahoo.com/news/wunderlic ... 12769.html
My Fair Value Estimate for EOG is $114/share.