Raymond James analyst John Freeman has revised the price target for EOG Resources (EOG, Financial), reducing it from $154 to $140, while maintaining a Strong Buy rating on the stock. This adjustment reflects significant shifts in the energy market landscape since the company's Q4 earnings report in February, as oil prices have dropped approximately $10 per barrel.
The analyst highlights that the recent changes in the oil market, influenced by global economic factors such as trade tensions and OPEC+ decisions, have created a challenging environment for Exploration & Production (E&P) companies. These developments have prompted many management teams to adopt a cautious approach, closely monitoring the evolving situation.
Despite the challenges posed by the current commodity price environment, Raymond James anticipates that EOG Resources will still deliver performance largely in line with expectations for the first quarter. This outlook suggests that while the broader market is experiencing volatility, EOG Resources may continue to uphold its operational stability in the near term.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 29 analysts, the average target price for EOG Resources Inc (EOG, Financial) is $138.18 with a high estimate of $161.00 and a low estimate of $114.00. The average target implies an upside of 25.05% from the current price of $110.50. More detailed estimate data can be found on the EOG Resources Inc (EOG) Forecast page.
Based on the consensus recommendation from 33 brokerage firms, EOG Resources Inc's (EOG, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for EOG Resources Inc (EOG, Financial) in one year is $127.47, suggesting a upside of 15.36% from the current price of $110.5. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the EOG Resources Inc (EOG) Summary page.
