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

April 20, 2021 2:25 AM EDT
Get Alerts EOG Hot Sheet
Price: $83.10 +7.95%

Rating Summary:
    35 Buy, 17 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
Trade Now! 
Join SI Premium – FREE
(Updated - April 20, 2021 3:31 AM EDT)

Goldman Sachs analyst Neil Mehta downgraded EOG Resources (NYSE: EOG) from Buy to Neutral with a price target of $80.00 (from $85.00).

The analyst comments "While the company continues to screen favorably for a combination of strong returns, FCF, growth and balance sheet, we believe this is adequately reflected in valuation. EOG trades in line with large-cap peers (PXD/FANG/DVN) on 2023E DACF multiple, but at a premium on 2023E FCF in part due to its focus on growth. We believe ability to add premium inventory from organic exploration and improve corporate return/FCF relative to peers will be key for EOG's ability to trade at a premium. We see 16% upside to our $80/shr price target for EOG."

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 $71.29 yesterday.


You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change, Downgrades

Related Entities

Goldman Sachs