KeyBanc Downgrades EOG Resources (EOG) to Sector Weight, RBC Capital Lowers PT

EOG Resources, Inc. (NYSE:EOG) is 1 of the 12 Best American Energy Stocks to Buy Now. On January 16, KeyBanc downgraded its standing connected EOG Resources, Inc. (NYSE:EOG) from Overweight to Sector Weight. KeyBanc pointed to worries astir “clear signs of degradation” successful some the Eagle Ford and Delaware Basin assets, on with a large driblet successful enactment successful Eagle Ford.

KeyBanc expert Tim Revzan noted that accumulation trends tin beryllium affected by travel dynamics from extra-large (XL) laterals successful the archetypal six to 12 months. The steadfast believes that productivity concerns successful EOG Resources, Inc.’s (NYSE:EOG) Texas-based assets warrant a cautious presumption connected the stock.

Despite this, KeyBanc is affirmative connected the company’s Utica asset. The probe steadfast believes that EOG Resources, Inc. (NYSE:EOG) is “slowly reinventing itself” by processing its Utica and Dorado assets and done its planetary exploration efforts.

Earlier, connected January 13, RBC Capital besides reduced its terms people connected EOG Resources, Inc. (NYSE:EOG) from $145 to $138 and kept its Outperform rating. This reflects the firm’s updated commodity terms outlook, particularly for oil.

RBC Capital present expects WTI crude lipid prices to beryllium $56.00 per tube successful 2026, down from its earlier forecast of $60.06 per barrel.

EOG Resources, Inc. (NYSE:EOG) is 1 of the largest American crude lipid and earthy state exploration and accumulation companies with proven reserves successful the US and Trinidad.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.