Deutsche Bank Downgrades EOG Resources (EOG) to Hold

Deutsche Bank downgraded EOG Resources (NYSE: EOG) from Buy to Hold with a price target of $83.00 (from $85.00). The change was tied to valuation.

Analyst Ryan Todd said, "The company remains a best-inclass operator with leading asset quality, but given significant outperformance, aggressive multiple expansion (6.2x premium on 2016 EV/DACF vs. historical peer average multiple) and limited NAV upside in a move to $65/bbl crude, we see greater potential upside elsewhere in the sector."

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 $79.13 yesterday.

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