EOG Resources (EOG) Reiterated at Hold by StoneX - 'Cash Tax Guidance Difficult to Justify'

StoneX analyst Subash Chandra reiterated a Hold rating on EOG Resources (NYSE: EOG).

The analyst commented, "Raising our 3Q EBITDA forecast to $4.29B from $3.5B on m-t-m commodity updates. Consensus is $4.4B. EOG prereleased surprisingly high cash taxes this quarter but did not make any other changes to guidance. The cash tax guidance is difficult to justify at the mid-point of guidance, in our view. We are the high end of production guidance. Reiterate our Hold rating on valuation, as shares reflect $90 l-t oil."

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 $150.51 yesterday.

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