Analyst Reduces Price Target on EOG Resources (EOG)

EOG Resources, Inc. (NYSE:EOG) is included among the 12 Best Crude Oil Stocks to Buy for Dividends.

EOG Resources, Inc. (NYSE:EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the US and Trinidad.

On December 17, Citi analyst Scott Gruber lowered the firm’s price target on EOG Resources, Inc. (NYSE:EOG) from $125 to $115, but maintained a ‘Neutral’ rating on the shares. Given the energy company’s limited exposure, the analyst expects the dip in Waha gas prices to have a minor impact on EOG’s results.

Moreover, the analyst believes that EOG remains a more defensive stock in the exploration and production space should oil prices decline even further, which is a likely scenario given the supply glut expected next year, especially if there is a breakthrough in the Russia-Ukraine peace process.

Earlier on December 12, UBS analyst Josh Silverstein also lowered the firm’s price target on EOG Resources, Inc. (NYSE:EOG) from $144 to $141, which still indicates an upside potential of over 35% from the current share price. Moreover, the firm maintained its ‘Buy’ rating on EOG shares.

Following three lackluster years, the analyst believes that the energy sector is positioned for a better performance in 2026, driven by an improving oil and natural gas outlook, cost and capex efficiencies, M&A-driven value creation, emerging OFS opportunities, and attractive valuations.

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Disclosure: None.