EOG Resources price target lowered to $145 from $150 at RBC Capital

RBC Capital analyst Scott Hanold lowered the firm’s price target on EOG Resources to $145 from $150 and keeps a Sector Perform rating on the shares. The company has demonstrated its ability to opportunistically repurchase stock in Q1, the analyst tells investors in a research note, adding that EOG’s overall shareholder return plan is among the most durable within energy. The firm further states that the company’s allocation to oilier targets in the Permian should drive oil growth over the coming quarters, though its price target cut is driven by RBC’s “reduced commodity forecast”.