Dark pool activity that looks like buying was detected in EOG stock on January 7, 2020.
We think that these dark pool prints were buy orders because of how EOG stock rose after the prints came off the dark pool.
We also detected bullish options flow in EOG stock which supports the thesis that the dark pool prints were buy orders.
On January 6, 2020, Bank of America analyst Doug Leggate upgraded EOG Resources to Buy from Neutral.
On December 16, 2020, after a “massive year of underperformance” in 2019, Energy dollars will likely rotate toward Exploration & Production in 2020, Citi analyst Scott Gruber tells investors in a research note. Investors have been positioned defensively but directional positioning could shift toward adding beta, contends the analyst. His top 2020 picks in Exploration & Production are Diamondback Energy (FANG), Pioneer Natural (PXD), WPX Energy (WPX), EOG Resources (EOG) and Cimarex Energy (XEC). While a rotation toward E&P could drive higher beta oil names such as Whiting Petroleum (WLL) and Oasis Petroleum (OAS) near term, other names offer better growth with less leverage risk, says Gruber.
JPMorgan analyst Arun Jayaram is more sanguine on the Exploration & Production sector heading into 2020. The transition to free cash flow that began in 2019 should support better free cash flow metrics and cash return given efficiency gains and oilfield services deflation, Jayaram tells investors in a research note. His top picks include Cabot Oil & Gas (COG), Concho Resources (CXO), Devon, EOG Resources (EOG), Diamondback Energy (FANG), Parsley Energy (PE), Pioneer Natural (PXD) and WPX Energy (WPX).
On November 19, 2019, Johnson Rice upgraded EOG Resources to Accumulate from Hold.
On November 12, 2019, Scotiabank analyst Paul Cheng initiated coverage of EOG Resources with a Sector Perform rating and $86 price target.
On November 8, 2019, SunTrust analyst Neal Dingmann raised his price target on EOG Resources to $80 after its “solid” Q3 results with forward expectations that the company can continue to target double-digit production growth and moderate shareholder returns. The analyst still keeps his Hold rating on the stock given its “premium valuation” and uncertainty whether EOG Resources’ 2020 spending can remain “relatively flat” while producing expected growth and free cash flows.
On November 6, 2019, EOG Resources, Inc. (EOG) reported third quarter 2019 net income of $615 million, or $1.06 per share, compared with third quarter 2018 net income of $1.2 billion, or $2.05 per share. Net cash provided by operating activities for the third quarter 2019 was $2.1 billion. EOG Resources reported Q3 adjusted EPS of $1.13 versus the consensus $1.13. The company reported Q3 revenue of $4.3B versus the consensus estimate of $4.41B.
“EOG’s operating performance has never been better. The company generated outstanding financial results in the third quarter driven by improvements in every area,” said William R. “Bill” Thomas, Chairman and Chief Executive Officer. “We reduced operating expenses, grew volumes at double-digit rates while lowering well costs and generated substantial free cash flow. EOG has never been in a better position to sustain this success long into the future.”