Market Overview

UPDATE: Miller Tabak Upgrades EOG Resources to Buy, Raises PT

Share:
Related EOG
Why Oil Drilling Could Resume 'Sooner Than Advertised'
Is The Shale Oil Market Recovering?

In a report published Friday, Miller Tabak + Co. upgraded its rating on EOG Resources (NYSE: EOG) to Buy, and raised its price target to $124.00.

Miller Tabak noted, “EOG posted a stellar Q2 with adjusted EPS of $1.16 (vs. our estimate of $0.86 and consensus of $0.92). Results out of EOG's Eagle Ford shale were simply spectacular, and likely repeatable on a large scale. Operationally, the company is hitting on all cylinders as drilling times come down and technology advancements with fracture stimulation provide for higher rates of return. Higher than expected price realizations from EOG's crude by rail initiative are here to stay as the company takes rail capacity from 50,000bopd to 100,000bopd by 2013. 2013's funding gap narrows significantly with higher commodity prices and continued advancements in drilling technology. We are upgrading EOG to a buy and increasing our price target to $124.”

EOG Resources closed on Thursday at $109.41.

Latest Ratings for EOG

DateFirmActionFromTo
May 2015RBC CapitalMaintainsOutperform
Apr 2015NomuraInitiates Coverage onBuy
Feb 2015JefferiesMaintainsUnderperform

View More Analyst Ratings for EOG
View the Latest Analyst Ratings

Posted-In: Miller Tabak + Co.Analyst Color Upgrades Analyst Ratings

 

Related Articles (EOG)

Around the Web, We're Loving...

Get Benzinga's Newsletters