EOG Resources (EOG) Update - Mar 23

[dan_s]

EOG is the only Sweet 16 stock up today. Why?
This morning two of the Wall Street Gang sent out new reports on EOG.

EOG Resources assumed with a Buy at Goldman Sachs
Goldman Sachs analyst Neil Mehta assumed coverage of EOG Resources with a Buy rating and $85 price target. The analyst assumed coverage of the Exploration and Production space while leaving ratings, price targets and estimates unchanged.

EOG Resources price target raised to $88 from $72 at Citi
Citi analyst Scott Gruber raised the firm's price target on EOG Resources to $88 from $72 and keeps a Buy rating on the shares. Exploration and production companies have exhibited a fast start to 2021 with expectations toward deleveraging, free cash flow and cash return potential all enhanced on the heels of "rapid" crude price inflation, Gruber tells investors in a research note. The analyst remains positive on the group, but adds that "risks must be monitored," including privates responding to crude and capital efficiency deterioration with cost inflation and rig adds into 2022.

The updated profile and forecast/valuation model for EOG will be posted to the EPG website this evening.