EOG Resources (NYSE: EOG), ATP Oil & Gas Co. (NASDAQ: ATPG), Marathon Oil Co. (NYSE: MRO), CenterPoint Energy, Inc. (NYSE: CNP), Dendreon Co. (NASDAQ: DNDN) and FX Energy, Inc. (NASDAQ: FXEN) had ratings and price targets on them adjusted by analysts.
Credit Suisse initiated coverage on EOG Resources (EOG). They placed a “Neutral” rating and a price target of $120.00 on the company.
ATP Oil & Gas Co. (ATPG) was downgraded by Rodman & Renshaw from an “Outperform” rating to a “Market Perform” rating.
Marathon Oil Co. (MRO) was downgraded by Argus from a “Buy” rating to a “Hold” rating.
CenterPoint Energy, Inc. (CNP) was upgraded by Citigroup (NYSE:C) from a “Neutral” rating to a “Buy” rating.
Dendreon Co. (DNDN) was upgraded by Bank of America (NYSE:BAC) from an “Underperform” rating to a “Neutral” rating.
FX Energy, Inc. (FXEN) was upgraded by Pritchard from a “Neutral” rating to a “Buy” rating.
Showing posts with label EOG Resources. Show all posts
Showing posts with label EOG Resources. Show all posts
Saturday, February 4, 2012
Wednesday, November 3, 2010
E0G (NYSE:EOG) Hammered After Lowering Guidance, Missing
EOG Resources (NYSE:EOG) reported losses of $70.9 million in the third quarter, and lowered their production growth target for the full year from 13 percent to 9 percent, causing the share price to plummet over 11 percent early in the trading session.
The huge increase in natural gas production in shale fields in the U.S. has resulted in an exceeding abundance of supply, which has pressured natural gas prices down.
Also affecting the performance was the failure of the company to procure the equipment they needed to perform hydrofracturing on the rock. It looks like they'll continue to be slow in acquiring the needed equipment.
EOG Chief Executive Officer Mark Papa said at current prices the company has no intention of increasing natural gas production, which led to the share price getting crushed.
Papa also said the company will be selling some of its Marcellus and Eagle Ford shale assets.
EOG was trading at $88.87, losing $8.87, or 9.08 percent as of 1:37 PM EDT.
The huge increase in natural gas production in shale fields in the U.S. has resulted in an exceeding abundance of supply, which has pressured natural gas prices down.
Also affecting the performance was the failure of the company to procure the equipment they needed to perform hydrofracturing on the rock. It looks like they'll continue to be slow in acquiring the needed equipment.
EOG Chief Executive Officer Mark Papa said at current prices the company has no intention of increasing natural gas production, which led to the share price getting crushed.
Papa also said the company will be selling some of its Marcellus and Eagle Ford shale assets.
EOG was trading at $88.87, losing $8.87, or 9.08 percent as of 1:37 PM EDT.
Wednesday, October 13, 2010
Catalysts for EOG Resources (NYSE:EOG), Anadarko (NYSE:APC), Apache (NYSE:APA) and EnCana (NYSE:ECA)
Potential near-term catalysts in the large cap oil & gas sector concerning results from Anadarko Petroleum's (NYSE:APC), Newfield Exploration (NYSE:NFX), Occidental Petroleum (NYSE:OXY), EnCana (NYSE:ECA), Newfield Exploration (NYSE:NFX), Range Resources (NYSE:RRC), Apache (NYSE:APA) and EOG Resources (NYSE:EOG) have been released by Barclays (NYSE:BCS).
Barclays said, "The Barclays Capital E&P Potential Catalyst Watch highlights potential market-moving events for companies we cover and addresses laterals across the sector. The E&P Potential Catalyst Watch is available on Barclays Capital Live under Tom Driscoll's bookshelf."
Notable potential catalysts: (1) Results from Anadarko Petroleum's exploration wells in Brazil and Mozambique, (2) Results form Newfield Exploration appraisal wells in the Maverick Basin (Eagleford shale) along with 3Q results, (3) 3Q Earnings reports next week: Occidental Petroleum, EnCana, Newfield Exploration, Range Resources ...We recommend oil-oriented Apache and MEG, as well as EOG Resources (our top pick) with its focus on liquids assets and attractive valuation."
Barclays said, "The Barclays Capital E&P Potential Catalyst Watch highlights potential market-moving events for companies we cover and addresses laterals across the sector. The E&P Potential Catalyst Watch is available on Barclays Capital Live under Tom Driscoll's bookshelf."
Notable potential catalysts: (1) Results from Anadarko Petroleum's exploration wells in Brazil and Mozambique, (2) Results form Newfield Exploration appraisal wells in the Maverick Basin (Eagleford shale) along with 3Q results, (3) 3Q Earnings reports next week: Occidental Petroleum, EnCana, Newfield Exploration, Range Resources ...We recommend oil-oriented Apache and MEG, as well as EOG Resources (our top pick) with its focus on liquids assets and attractive valuation."
Tuesday, September 28, 2010
Barclays (NYSE:BCS) Reiterates "Overweight" on EOG (NYSE:EOG)
Barclays said it it reiterating its "Overweight" on EOG Resources (NYSE:EOG), citing "superior cash flow."
"Recent concerns have focused on capital spending, a lack of hedges and well performance rather than the strong cash flow growth that should drive performance. Superior cash flow growth should drive the shares higher. We expect cash flow to nearly double by 2012 vs. 2010 levels. This growth should far exceed peers' 30%," Barclays said.
EOG, which explores for, develops and produces crude oil and natural gas, closed Monday at $91.25, down $0.86, or 0.93 percent.
Barclays has a hefty price target of $155 on the energy company.
"Recent concerns have focused on capital spending, a lack of hedges and well performance rather than the strong cash flow growth that should drive performance. Superior cash flow growth should drive the shares higher. We expect cash flow to nearly double by 2012 vs. 2010 levels. This growth should far exceed peers' 30%," Barclays said.
EOG, which explores for, develops and produces crude oil and natural gas, closed Monday at $91.25, down $0.86, or 0.93 percent.
Barclays has a hefty price target of $155 on the energy company.
Monday, September 20, 2010
EOG (NYSE:EOG) Upgraded by Credit Suisse (NYSE:CS)
Credit Suisse took the scalpel to a bunch of energy stocks on Friday, slashing a number of them, especially concerning their price targets, including EOG Resources (NYSE:EOG).
EOG was upgraded from "Underperform" to "Neutral," while their price target was cut from $106 to $97.
"Near-term gas markets are likely to remain weak on persistently high supply," Credit Suisse stated.
They see natural gas prices about 13 percent less than their previous estimate, dropping to $5.25 per million metric British thermal units in 2011. Long term they see natural gas prices hitting $6.50.
Like other analysts, Credit Suisse likes energy companies with more exposure to oil. Analysts wrote, "We see a better opportunity today in companies that produce mostly gas, but are drilling few gas wells because they have the liquids-prone assets in place to exploit."
EOG was upgraded for that reason, as the brokerage sees them positioned strongly for growth because of their oil shale holdings.
Other natural gas players have been making oil deals as well for the same reason.
EOG was upgraded from "Underperform" to "Neutral," while their price target was cut from $106 to $97.
"Near-term gas markets are likely to remain weak on persistently high supply," Credit Suisse stated.
They see natural gas prices about 13 percent less than their previous estimate, dropping to $5.25 per million metric British thermal units in 2011. Long term they see natural gas prices hitting $6.50.
Like other analysts, Credit Suisse likes energy companies with more exposure to oil. Analysts wrote, "We see a better opportunity today in companies that produce mostly gas, but are drilling few gas wells because they have the liquids-prone assets in place to exploit."
EOG was upgraded for that reason, as the brokerage sees them positioned strongly for growth because of their oil shale holdings.
Other natural gas players have been making oil deals as well for the same reason.
Monday, September 13, 2010
Barclays (NYSE:BCS) Recommends EOG (NYSE:EOG), QEP (NYSE:QEP), MEG (TSE:MEG)
Barclays (NYSE:BCS) weighed in on who they like in the energy sector, and the top company in their mind is EOG Resources (NYSE:EOG), followed by QEP Resources (NYSE:QEP) and MEG Energy (TSE:MEG).
They said about EOG, "Buy EOG Resources (NYSE:EOG) before the conference begins. US Oil volumes projected to rise - 70 percent (mid-point) by Q4. If EOG can support the aggressive forecast by convincing investors Eagleford well results have been in line then shares could rally. Impressive oil growth estimates of - 49%/70% in 2010E/2011E - EOG has first mover advantage in oil shales. Historic multiple of 2012 forecasts suggest share price rise of 50 percent higher by mid-2011."
Concerning MEG and QEP, Barclays said the low liquidity levels of the two companies have resulted in low investor interest in them. They believe if trading volume picks up on them soon they should do well.
Barclays said companies to stay away from include Ultra Petroleum (NYSE:UPL), Southwestern Energy (NYSE:SWN) and Range Resources (NYSE:RRC)
They said about EOG, "Buy EOG Resources (NYSE:EOG) before the conference begins. US Oil volumes projected to rise - 70 percent (mid-point) by Q4. If EOG can support the aggressive forecast by convincing investors Eagleford well results have been in line then shares could rally. Impressive oil growth estimates of - 49%/70% in 2010E/2011E - EOG has first mover advantage in oil shales. Historic multiple of 2012 forecasts suggest share price rise of 50 percent higher by mid-2011."
Concerning MEG and QEP, Barclays said the low liquidity levels of the two companies have resulted in low investor interest in them. They believe if trading volume picks up on them soon they should do well.
Barclays said companies to stay away from include Ultra Petroleum (NYSE:UPL), Southwestern Energy (NYSE:SWN) and Range Resources (NYSE:RRC)
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