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| 19:21 EDT |  | EOG |
| theflyonthewall.com: | EOG could sail past its recent high in next 12 months, Barron's reports | | Oil and natural-gas producer, EOG Resources' (EOG) shares have slipped since hitting $96 last month. But the stock is up some 20% since Barron's predicted in September that the company's horizontal-drilling techniques would boost its production profile and win its fans. So far, EOG's bet on oil is paying off, but the stock seems pricey to some at 29x this year's expected earnings. Some brokerages, such as Goldman Sachs (GS), have downgraded the shares. But EOG could surprise skeptics, says Barron's, and sail past its recent high in the next 12 months. The company is in the early innings of an oil-production increase, which will let it reap the benefits of rising oil prices. Also, it has hedged production against oil-price changes. Rising oil prices could help propel EOG's shares to $115 within a year, says Deutsche Bank (DB) analyst Shannon Nome, who raised her rating on EOG earlier this month to a Buy from Hold. Reference Link :theflyonthewall.com |
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