UPDATE: Goldman Sachs Downgrades EOG Resources (EOG) to Buy

(updating comment)

Goldman Sachs analyst Brian Singer downgraded EOG Resources (NYSE: EOG) from Conviction Buy to Buy with a price target of $68.00.

The analyst comments "We remove EOG Resources (EOG) from the Americas Conviction List and add Devon Energy (DVN) as we see expect market recognition for more transformational changes at DVN and see slightly higher beta to our bullish 2021E/22E oil price outlook. Since being added to the Americas Conviction List on May 28, 2012, EOG is up 2% while the XOP is down 69%, the XLE is down 39% and the S&P 500 is up 177%."

For an analyst ratings summary and ratings history on EOG Resources click here. For more ratings news on EOG Resources click here.

Shares of EOG Resources closed at $53.16 yesterday.

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