Wells Fargo analyst Roger Read raised the firm’s price target on EOG Resources (EOG) to $149 from $148 and keeps an Overweight rating on the shares. The firm expects “solid” Q2 execution with “robust” cash returns from EOG. Continued capital discipline, improved scale, enhanced gas optionality via Encino, and strong balance sheet flexibility support the company’s industry-leading shareholder returns, the analyst tells investors in a research note.
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