Update (9:43 a.m.): Updated with Tuesday market open information.
NEW YORK (TheStreet) -- UBS increased its price target on EOG Resources (EOG - Get Report) to $115 price target and set a "buy" rating. The firm noted the company increased its 2014 production guidance.
The stock was up 5.38% to $104.59 at 9:41 a.m. on Tuesday.
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Separately, TheStreet Ratings team rates EOG RESOURCES INC as a "buy" with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EOG RESOURCES INC (EOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth came in higher than the industry average of 0.2%. Since the same quarter one year prior, revenues rose by 21.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The current debt-to-equity ratio, 0.38, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.04, which illustrates the ability to avoid short-term cash problems.
- Powered by its strong earnings growth of 212.76% and other important driving factors, this stock has surged by 63.46% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
- EOG RESOURCES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, EOG RESOURCES INC increased its bottom line by earning $4.03 versus $1.05 in the prior year. This year, the market expects an improvement in earnings ($5.10 versus $4.03).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 214.9% when compared to the same quarter one year prior, rising from -$505.00 million to $580.19 million.
- You can view the full analysis from the report here: EOG Ratings Report