Mizuho analyst Nitin Kumar lowered the firm’s price target on EOG Resources to $150 from $160 and keeps a Neutral rating on the shares. The analyst reduced net asset values by 5% for the firm’s U.S. oil and gas coverage. This largely reflects lower capital efficiencies for 2023 that are then carried forward over the longer term, the analyst tells investors in a research note. The firm’s top picks in the sector remain Diamondback Energy (FANG), Exxon Mobil (XOM) and Coterra Energy (CTRA). It also removed Pioneer Natural Resources (PXD) from "strong buy" and added PDC Energy (PDCE) to the list, alongside ConocoPhillips (COP), Valero Energy (VLO), Devon Energy (DVN) and Chesapeake Energy (CHK).
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on EOG:
- EOG Resources price target lowered to $158 from $167 at Wells Fargo
- EOG Resources price target lowered to $171 from $174 at Piper Sandler
- Two of the Best Dividend Stocks, According to Analysts
- EOG Resources Inc Reports Earnings: Did it Beat Estimate Forecasts?
- EOG Resources declares regular dividend, $1.00 per share special dividend