Barclays raised the firm’s price target on EOG Resources (EOG) to $140 from $137 and keeps an Equal Weight rating on the shares. The Encino deal fits the company’s strategic rationale to gain scale and efficiency in what will be EOG’s third largest foundation play, the analyst tells investors in a research note. The firm sees the deal as modestly accretive on enterprise value multiples and highly accretive on per share metrics.
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Read More on EOG:
- EOG Resources’ Strategic Acquisition of Encino Acquisition Partners: A Transformative Move in the Utica Shale
- EOG Resources Announces $5.6 Billion Acquisition Deal
- EOG Resources raises quarterly dividend 5% to $1.02 per share
- EOG Resources to acquire Encino Acquisition Partners for $5.6B
- EOG Resources put volume heavy and directionally bearish
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