Piper Sandler has revised its price target for EOG Resources (EOG, Financial), reducing it slightly from $135 to $133. The firm has maintained a Neutral rating on the shares. This adjustment comes as EOG faces a complex market environment in anticipation of the first quarter earnings reports.
The current market landscape is influenced by ongoing trade tensions and overall economic uncertainty, compounded by increased oil supply from OPEC+. Additionally, the seasonal gas market remains volatile, further complicating the outlook for energy companies.
Despite these challenges, Piper Sandler notes that the current market volatility may present strategic entry points for investors, particularly in companies like EOG Resources that possess extensive low-cost inventory and robust financial stability. However, the firm expresses a slight preference for oil over gas assets as the sector navigates potential shifts and performance factors in the short 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 $138.49 with a high estimate of $161.00 and a low estimate of $114.00. The average target implies an upside of 26.93% from the current price of $109.11. 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 $127.27, suggesting a upside of 16.64% from the current price of $109.11. 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.
