RBC Capital upgraded EOG Resources (EOG) to Outperform from Sector Perform with a price target of $155, up from $150. The upgrade is driven by the company’s continued strong operational performance, exposure to improving natural gas prices, premium commodity price realizations, and potential for significant stock buybacks, the analyst tells investors in a research note. The firm thinks EOG’s near-term catalysts could include a meaningful step-up in Q4 stock buybacks and natural gas “optionality” in the Dorado play.
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Read More on EOG:
- EOG Resources Board Member Donald Textor to Retire
- EOG Resources price target raised to $141 from $140 at Piper Sandler
- EOG Resources price target raised to $175 from $167 at Raymond James
- EOG Resources price target raised to $148 from $140 at Barclays
- EOG Resources price target raised to $143 from $139 at Morgan Stanley
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