Wells Fargo analyst Roger Read maintains $EOG Resources (EOG.US)$ with a hold rating, and adjusts the target price from $140 to $135.
According to TipRanks data, the analyst has a success rate of 54.2% and a total average return of 7.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $EOG Resources (EOG.US)$'s main analysts recently are as follows:
The estimation for EOG Resources has been modified to reflect the revised commodity price projections and investment perspective. Analysts maintain long-term price expectations of $80 for Brent and $3.50 for Henry Hub. Should operational efficiency advancements continue and service expenditures decline, exploration and production companies may maintain enhanced capital efficiency into 2025, potentially counterbalancing the effects of resource maturity.
The outlook for EOG Resources acknowledges the challenging fundamentals and potential for a 2025 imbalance in energy commodities. Despite the globally coordinated easing cycle, there's an anticipation that energy stocks may not participate due to these challenges. Nevertheless, the sentiment suggests that there's a risk of crude oil prices moving higher. As the quarter concludes, expectations are set for updates that may reveal a decline in short-term estimates.
Note:
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