EOG Resources (EOG – Research Report), the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst David Deckelbaum from TD Cowen maintained a Hold rating on the stock and has a $142.00 price target.
David Deckelbaum has given his Hold rating due to a combination of factors surrounding EOG Resources’ recent performance and future guidance. The company’s quarterly results were mixed, with production aligning with expectations and EBITDAX slightly surpassing consensus estimates. However, capital expenditures were slightly higher than anticipated, and the free cash flow guidance fell short of previous models due to increased costs.
Despite these challenges, EOG Resources has shown some positive developments, such as reducing well and operating costs, increasing proved reserves, and maintaining a strong shareholder return strategy. The FY25 guidance indicates stable production growth and strategic exploration initiatives, but the projected free cash flow remains below prior estimates. These mixed signals contribute to the Hold rating, as the company demonstrates both strengths and areas of concern that warrant a cautious approach.
Deckelbaum covers the Energy sector, focusing on stocks such as Diamondback, Conocophillips, and Devon Energy. According to TipRanks, Deckelbaum has an average return of -2.1% and a 37.29% success rate on recommended stocks.
In another report released yesterday, J.P. Morgan also maintained a Hold rating on the stock with a $144.00 price target.