5 Most Undervalued Energy Stocks to Buy Now

3. EOG Resources, Inc. (NYSE:EOG)

EOG Resources, Inc. (NYSE:EOG) is one of the most undervalued energy stocks to buy now. EOG Resources, Inc. (NYSE:EOG) received a rating update from Barclays on March 13. The firm lifted the price target on the stock to $140 from $133 and reaffirmed an Equal Weight rating on the shares, telling investors that it raised 2026 oil price estimates on the Iran war. The firm believes that the cash flow tailwinds are still underappreciated for the exploration and production group. Barclays further told investors in a research note that although the oil spike is not likely to last for long, the market is underappreciating the cash flow benefit and the “durable benefit” it will have on the group’s capacity to lift cash returns beyond the conflict.

Piper Sandler also raised the price target on EOG Resources, Inc. (NYSE:EOG) to $144 from $127 on March 12, keeping a Neutral rating on the shares and citing its increased price deck for the target bump. The firm told investors that amid the Iran war, it increased its mid-cycle crude price forecast to $75 per barrel from $70 and anticipates lasting supply impacts. It also stated that higher prices are required to incentivize investment in production.

EOG Resources, Inc. (NYSE:EOG) explores, develops, produces, and markets natural gas and crude oil. Its operations are divided into the following geographical segments: United States, Trinidad, and Other International.