Scotiabank Initiates Coverage of EOG Resources at Sector Perform
Fintel reports that on October 15, 2026, Scotiabank initiated coverage of EOG Resources (NYSE:EOG) (BMV:EOG) with a Sector Perform recommendation. This rating action occurred alongside another analyst movement on the same day, as Morgan Stanley maintained its Equal-Weight rating on the stock. Interestingly, Scotiabank's prior action on the company was recorded on April 22, 2026, when it maintained a Sector Perform rating.
Looking at the stock's market performance around the rating action, EOG Resources closed at $154.19 on October 14, 2026, the session prior to the initiation. The stock closed at $158.05 on October 16, 2026, representing a pre-action to next-session change of +2.50%. As of October 16, 2026, the latest close was $158.05. This reflects a one-week price change of +6.68% from a baseline close of $148.16 on October 9, 2026, and a one-month price change of +9.05% from a baseline close of $144.93 on September 16, 2026.
The broader analyst consensus presents a distinct outlook. As of October 2, 2026, the current consensus target mean for EOG Resources was $163.54, with a median target of $161.16. This mean target represents an implied change of +3.47% from the stock's valuation and a +0.80% revision from the prior consensus target mean of $162.24 recorded on September 14, 2026. In terms of overall recommendations, the current period starting September 1, 2026, shows a total of 36 recommendations, consisting of 6 strong buy, 11 buy, 19 hold, 0 sell, and 0 strong sell ratings. This results in a positive recommendation percentage of 47.2% and a hold percentage of 52.8%. In the prior period starting August 1, 2026, the total recommendation count was also 36, but with 5 strong buy, 14 buy, 17 hold, 0 sell, and 0 strong sell ratings, representing 52.8% positive and 47.2% hold recommendations.
Other recent analyst activities include UBS maintaining a Buy rating on October 9, 2026, Truist Securities maintaining a Hold rating on October 2, 2026, and Raymond James maintaining a Strong Buy rating on September 17, 2026. On the financial front, EOG Resources last reported earnings on August 4, 2026, posting an actual EPS of 5.07, which exceeded the estimated EPS of 5.0287, representing a surprise of +0.82%. The company's actual revenue for the quarter was $8,620,000,000.00, compared to the estimated revenue of $7,817,063,397.00. The company's upcoming earnings announcement is scheduled for November 5, 2026, during the amc session. EOG Resources, Inc. is an oil and gas company based in the United States, focused on exploration, development, production, and marketing of crude oil and natural gas, with key projects in the Eagle Ford Shale and the Permian Basin.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 15, 2026 | Scotiabank | Sector Perform | initiated coverage | |
| October 15, 2026 | Morgan Stanley | Equal-Weight | Equal-Weight | maintained |
| October 9, 2026 | UBS | Buy | Buy | maintained |
| October 2, 2026 | Truist Securities | Hold | Hold | maintained |
| September 17, 2026 | Raymond James | Strong Buy | Strong Buy | maintained |
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This story originally appeared on Fintel.