Will Hurricane Harvey Rain on EOG Resources Inc.'s Growth Parade in Q3?
EOG Resources (NYSE: EOG) is the dominant player in the Eagle Ford shale of south Texas, where it's the largest acreage holder and producer. The company has leveraged its position in that play to fuel remarkable oil production growth over the past several years. Furthermore, EOG expects it to play an essential role in driving its U.S. oil output up 20% this year.
However, that view came before Hurricane Harvey soaked south Texas, causing several oil producers to shut in wells and shut down their drilling activities. As a result, the storm will likely have a noticeable impact on EOG's third-quarter results that will be posted later this week. However, the report still might not be that bad considering how the storm impacted rivals, which provides clues on what we might see in EOG's results.
Image source: Getty Images.
Source: Fool.com
EOG Resources Inc. Aktie
Rein positive Einschätzungen für EOG Resources Inc., nur Buy-Einschätzungen, keine Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 141 € für EOG Resources Inc. zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 115.66 €.
