Truist raised the firm’s price target on EOG Resources to $169 from $165 and keeps a Buy rating on the shares after its Q3 earnings beat. The company not only materially stepped up its shareholder returns on the latest release, but also notably increased its double premium inventory, the analyst tells investors in a research note. EOG also boosted its minimum annual shareholder returns payout to over 70% of free cash flow, which is unlikely to decline in the coming years, the firm added.
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Read More on EOG:
- EOG Resources reports Q3 adjusted EPS $3.44, consensus $2.99
- EOG Resources Reports Third Quarter 2023 Results, Increases Annual Cash Return Commitment to Shareholders and Raises Regular Dividend 10%
- EOG Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- EOG Resources downgraded to Neutral from Buy at Citi
- EOG Resources price target lowered to $164 from $165 at Susquehanna
