Actionable news
0
All posts from Actionable news
Actionable news in EOG: EOG RESOURCES Inc,

Here's Why Analysts Are Split on EOG Shares

0

Though the energy industry as a whole would likely need oil to jump back to $55 per barrel for a substantial rebound in production, the future of EOG Resources (EOG - Get Report) will likely be salvaged well below that threshold, according to one analyst.

The Houston-based company reported solid first-quarter earnings Thursday, but did not give investors a lot to look forward to when it said Friday it would take oil prices of $60 to $65 per barrel and 12 months of lead time for the industry to modestly ramp up production.

But there is an upside to the Eagle Ford crude oil producer's shares, according to Barclays analyst Thomas R. Driscoll, who noted Monday that EOG will need about $45 per barrel oil prices vs. an industry average of $55 per barrel "to generate enough internal cash flow to maintain production in 2017."

West Texas Intermediate crude oil teetered between $44 and $46 per barrel Monday. Meanwhile, EOG shares opened nearly 50 cents below their Friday close of $78.68. Its shares traded down 55 cents to $78.15 per share...


More