EOG Resources moves higher as Q4 results reviewed favorably

|By:, SA News Editor

While Chesapeake (CHK -7.1%) languishes after reporting its Q4 earnings, natural gas producer EOG Resources (EOG +1.8%) continues to rise after its Q4 results beat expectations.

Howard Weil raises its EOG price target to $210 from $191 following strong earnings coupled with encouraging conference call commentary on EOG's domestic onshore portfolio; EOG has exhibited tremendous success in discovering new horizontal oil resource plays and capturing sizable acreage positions, and has improved well performance and reduced costs in other key areas outside of the Eagle Ford (Briefing.com).

RBC Capital lifts its target to $206 from $182 as EOG increased its Eagle Ford net potential recoverable reserves by 45%; the firm thinks FY 2014 production growth guidance probably was conservative (Briefing.com).