EOG Resources price target lowered to $140 from $144 at Jefferies

Jefferies lowered the firm’s price target on EOG Resources (EOG) to $140 from $144 and keeps a Buy rating on the shares. Well productivity degradation per foot has been a drag on EOG equity performance in recent months, but the firm believes that its rate of return should be the market focus, the analyst tells investors in a research note. EOG’s reduction in costs is enhancing sustainable free cash flow while natgas marketing is offsetting oil cut declines, the firm added.