Truist raised the firm’s price target on EOG Resources (EOG) to $135 from $115 and keeps a Hold rating on the shares after its Q3 earnings beat. The company reported a solid quarter with notable operations, while the management laid out a new capital optimization plan that academically makes financial sense, though the firm questions whether it is best in a volatile energy tape, the analyst tells investors in a research note. There is no denying EOG’s strong operations, though Truist still sees a “below peer free cash flow yield”, the firm added.
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Read More on EOG:
- EOG Resources price target raised to $140 from $137 at Barclays
- EOG Resources’ Financial Stability at Risk with New Gas Agreement Linked to Brent Crude
- EOG Resources Inc. Reports Steady Q3 2024 Earnings
- EOG Resources Releases 2024 Forecast and Q3 Results
- EOG Resources reports Q3 adjusted EPS $2.89, consensus $2.77
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