Roth/MKM Downgrades EOG Resources (EOG) to Neutral

Roth/MKM analyst Leo Mariani downgraded EOG Resources (NYSE: EOG) from Buy to Neutral with a price target of $134.00 (from $140.00).

The analyst comments: "We rate EOG Resources (EOG) Neutral based on its shorter inventory life vs. peers and focus on higher cost emerging plays like the Utica Shale and PRB and riskier international exploratory plays.
We Are Downgrading Shares of EOG Based On Concerns That Global Oil Prices Are Close To A Near-term Top. We are downgrading shares of EOG from Buy to Neutral and cutting our price target by 4% to $134 per share based on our thoughts that global oil prices are close to a near-term top, and we see risk to the downside for oil in 2H25. OPEC+ appears to be poised to add back around 2.5 MMBopd of oil to global markets between April 1 and September 30, and we expect those volumes to put global oil markets into an oversupplied state. We also think the global oil demand outlook is uncertain right now due to the current tariff war, and both of these factors are likely to result in rising global oil inventory levels in 2025."

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 $123.95 yesterday.

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