Piper Sandler analyst Mark Lear lowered the firm’s price target on EOG Resources to $153 from $158 and keeps an Overweight rating on the shares. Sentiment for E&P has cooled from the late summer/early fall following M&A frenzy and start of Mid-East war, but the firm sees the pullback offering a better entry entering 2024. With several deals already announced only several weeks into the year, M&A continues to be a key focus though the market is more discerning on value, asset quality and implications for shareholder return, Piper adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EOG:
- EOG Resources price target lowered to $146 from $152 at Jefferies
- Verizon, others could benefit as changes approach, Barron’s
- Ex-Dividend Date Nearing for These 10 Stocks – Week of January 15, 2024
- SM Energy price target lowered to $51 from $56 at KeyBanc
- Murphy Oil price target lowered to $50 from $53 at KeyBanc