Equities
Raymond James Adjusts Price Target on EOG Resources to $186 From $183, Keeps Strong Buy Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $163.69, according to analysts polled by FactSet.
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72 stories mentioning EOGUpdated 2d ago
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What are analysts saying about EOG?
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
- Raymond JamesTarget revisedStrong BuyPrice target$186from $183
- StephensTarget revisedEqualweightPrice target$175from $168
- Seaport GlobalInitiatedNeutral
- BernsteinTarget revisedMarket PerformPrice target$155from $156
- Capital OneDowngradedEqual WeightPrice target$153
- Goldman SachsTarget revisedPrice target$151from $127
What's the latest news on EOG?
Insider Trading
Eog Resources Insider Sold Shares Worth $1,085,728, According to a Recent SEC Filing
Michael P Donaldson, Executive Vice President & Chief Legal Officer, on September 11, 2026, sold 7,336 shares in Eog Resources (EOG) for $1,085,728. Following the Form 4 filing with the SEC, Donaldson has control over a total of 130,558 common shares of the company, with 100,558 shares held directly and 30,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/821189/000082118926000174/xslF345X05/form4.xml
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Commodities
US Natural Gas Storage Build Beats Estimates as Global Prices Surge, RBC Says
US natural gas inventories rose more than expected last week, adding to bearish pressure on domestic prices even as global benchmarks surged amid concerns over disrupted LNG supplies from the Middle East, RBC Capital Markets strategists said in a Thursday note.RBC analysts said that working gas in storage increased by 40 billion cubic feet in the week ended Sep. 4, compared with a median estimate of 34 Bcf. The build was also below the 69 Bcf injection recorded during the same week last year and the five-year average of 52 Bcf.The consultancy said that total working gas stood at 3.254 trillion cubic feet, 79 Bcf below year-earlier levels but 148 Bcf above the five-year average.US gas prices have fallen about 5% over the past week, while global prices have moved higher. Benchmark LNG prices in Asia were around $29 per million British thermal units, while European TTF was near $28, both well above RBC's current $18 forecast.The widening divergence underscores the Iran conflict's impact on global gas markets, RBC said in a note. QatarEnergy is seeking longer-term agreements with US suppliers as the conflict limits its ability to supply some customers.RBC expects US storage to peak at about 3.9 trillion cubic feet this fall, roughly 120 Bcf above the 10-year average but 60 Bcf below last year's level.The bank said the Energy Information Administration expects inventories to end the injection season at about 4 Tcf, or 5% above the five-year average, following another year of strong US production growth.For next week's EIA report, RBC forecasts a 35 Bcf to 40 Bcf injection, well below the seasonal norm of 74 Bcf and last year's 87 Bcf build.US natural gas futures for the next 12 months were around $3.10 per thousand cubic feet, down 11 cents from the previous week and below RBC's $3.19 forecast. The 2026/29 strip averaged about $3.52/Mcf, broadly in line with RBC's assessment of current valuations.Meanwhile, the National Oceanic and Atmospheric Administration reaffirmed that this year's strong El Nino has a 75% probability of becoming a historic event, potentially exceeding the strength of previous episodes dating to 1950. Weather patterns remain a key variable for US gas demand, particularly during the winter heating season.RBC said that domestic supply growth is also showing signs of a mixed trajectory. Baker Hughes (BKR) data showed the US rig count falling by two to 130 last week.Appalachian rigs declined by one to 33, three below year-ago levels, while Haynesville rigs also fell by one to 56 but remained 17 rigs above last year's count.Meanwhile, infrastructure investment continues as producers and LNG developers seek to expand export and takeaway capacity.Texas LNG asked the Federal Energy Regulatory Commission to waive the mandatory pre-filing process for an expansion that would add 5.5 million metric tons per year of liquefaction capacity to its proposed Brownsville facility, on top of the 4 million tons currently planned.EOG Resources (EOG) said it could increase capacity on its South Texas Verde pipeline to about 1.7 billion cubic feet per day from 1 Bcf/d. The 100-mile system connects EOG's Dorado asset to the Agua Dulce Hub.The US Federal Energy Regulatory Commission also found no significant environmental impact from the proposed 400 million cubic feet per day Green Chile Pipeline in New Mexico, which would supply the Project Jupiter data center backed by OpenAI and Oracle (ORCL).Price: $147.30, Change: $-0.16, Percent Change: -0.11%
$BKR$EOG$ORCL
Equities
Stephens Adjusts Price Target on EOG Resources to $175 From $168, Maintains Equalweight Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $161.97, according to analysts polled by FactSet.
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Oil & Energy
UAE Shale Gains Momentum as EOG Wells Match Top US Tight Oil Plays, Wood Mackenzie Says
UAE shale prospects are gaining momentum after EOG Resources' (EOG) first Shilaif wells delivered results comparable to leading US tight oil plays, Wood Mackenzie said in a Thursday note.The Shilaif discovery could join Argentina's Vaca Muerta and Saudi Arabia's Jafurah among the few shale plays outside North America to reach scale.Adnoc identified up to 22 billion barrels of technically recoverable unconventional oil in the Upper Cretaceous Shilaif formation several years ago.Unlike several regional unconventional projects, Shilaif holds an oil-focused reservoir, while favorable geology and scale helped Wood Mackenzie rank it among six promising early-stage shale plays.The UAE also opened the project to foreign expertise, awarding EOG Resources its first license, UC03, covering 900,000 acres in May 2025.Adnoc and the UAE government supported international service companies and workers, helping EOG secure equipment and expertise needed to accelerate exploration, Wood Mackenzie said.EOG brought two Shilaif wells online in June, each featuring a one-mile lateral, and both produced over 25,000 barrels of oil during their first 30 days.The wells currently flow naturally before EOG shifts them to artificial lift, while Wood Mackenzie compares Shilaif's geology with the liquids-rich Eagle Ford play in Texas.The initial production ranks among, and in some cases exceeds, leading US liquids plays, despite the UAE wells using laterals roughly half as long as typical US Permian and Eagle Ford wells.EOG's results also suggest strong reservoir quality because the UAE wells generated higher output per foot than longer US unconventional wells, Wood Mackenzie said.UC03 uses a concession model with tax and royalty terms rather than a production-sharing contract, which Wood Mackenzie said better supports the sustained investment unconventional projects require.EOG also used locally available drilling and completion services, leaving room to cut costs through higher-spec equipment, longer laterals and further operational improvements.Wood Mackenzie said Shilaif still needs more wells to establish estimated ultimate recoveries and test whether the early results repeat across EOG's broader acreage.Long-term decline rates, well spacing and reservoir variation will shape commercial returns, while Petronas and a Bharat Petroleum-Indian Oil consortium are drilling nearby wells to add data.The UAE plans to invest $145 billion through 2030 and lift oil capacity from under 4 million barrels per day in 2020 to 5 million b/d in 2027. Capacity reached 4.85 million b/d in 2024.The UAE left OPEC in 2026, removing production constraints, while planned export pipeline expansion could reduce reliance on the Strait of Hormuz and support Shilaif's future development, Wood Mackenzie said.Price: $147.44, Change: $+0.43, Percent Change: +0.29%
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Research
Seaport Global Initiates EOG Resources at Neutral
EOG Resources (EOG) has an average rating of overweight and mean price target of $161.86, according to analysts polled by FactSet.
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Research
Correction: Bernstein Retains EOG Resources' $156 Price Target, Market Perform Rating
(Corrects to show no price target change in headline)EOG Resources (EOG) has an average rating of overweight and mean price target of $161.93, according to analysts polled by FactSet.
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Equities
Bernstein Adjusts PT on EOG Resources to $155 From $156, Maintains Market Perform Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $161.93, according to analysts polled by FactSet.
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Equities
S&P 500 Posts Slight Weekly Gain as Tech Earnings Top Expectations
The Standard & Poor's 500 index edged up 0.5% this week amid stronger-than-expected quarterly reports from tech companies including Salesforce (CRM) and CrowdStrike (CRWD).The S&P 500 ended the week at 7,711.76. With just one session remaining in the month, the market benchmark is up 3% for August and has climbed 13% this year.At the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chairman Kevin Warsh reaffirmed his commitment to the Fed's mandates, including the 2% inflation goal. Warsh said inflation numbers were concerning, citing the Fed's preferred metric -- the personal consumption expenditure price index -- which was unchanged at 3.7% year over year in July.Data released earlier this week showed US economic growth, measured by gross domestic product, rose by 1.5% in Q2. This was unrevised from the advance estimate released last month and matched expectations in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg. The latest reading was still below July's final print of 55.2.The technology sector had the largest percentage increase this week, climbing 1.8%, followed by a 1.6% advance in communication services and a 1.1% rise in financials. Consumer discretionary eked out a 0.1% gain.Salesforce was the best performer in both the technology sector and the overall S&P 500 this week, jumping 22%. The company reported fiscal Q2 adjusted earnings and revenue above analysts' mean estimates and boosted its fiscal 2027 guidance.CrowdStrike had the second-largest percentage gain in technology and the overall S&P 500, climbing 14%. The company reported better-than-expected fiscal second-quarter results. CrowdStrike also raised its guidance for full-year net new annual recurring revenue, or ARR, amid increasing demand for cybersecurity solutions to address artificial intelligence risks.The health care and energy sectors fell 2% each, followed by a 1.7% decline in industrials and a 1.3% slip in real estate. Consumer staples, materials and utilities also edged lower.Boston Scientific (BSX) had the largest percentage loss in health care for the week, shedding 7%. The company is recalling thousands of its percutaneous catheters due to possible arterial sheath tip separation that could lead to complications with a retained tip, the US Food and Drug Administration said.The decline in energy came as crude oil futures also fell on the week. Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, Reuters reported. Top decliners in the sector included EOG Resources (EOG), which fell 6.3% amid an investment rating downgrade by Capital One to equal weight from overweight.Earnings reports next week are expected from companies including Palo Alto Networks (PANW), Dell Technologies (DELL), Medtronic (MDT), Broadcom (AVGO) and Snowflake (SNOW).Investors will be heavily focused on the government's August employment report, due Friday. Other reports will include July construction spending and factory orders.
Dow JonesNasdaq CompositeS&P 500$BSX$CRM$CRWD$EOG
Wire
EOG Resources Shares Fall After Capital One Downgrade
EOG Resources (EOG) shares were down 1.3% in Wednesday trading after Capital One downgraded the stock to equal weight from overweight.Trading volume stood at more than 1.6 million shares, compared with a daily average of 3.4 million.Price: $144.84, Change: $-1.99, Percent Change: -1.36%
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Research
Capital One Downgrades EOG Resources to Equal Weight From Overweight, $153 Price Target
EOG Resources (EOG) has an average rating of overweight and mean price target of $161.79, according to analysts polled by FactSet.
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Equities
Goldman Sachs Adjusts Price Target on EOG Resources to $151 From $127
EOG Resources (EOG) has an average rating of overweight and mean price target of $161.79, according to analysts polled by FactSet.
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Commodities
Higher Oil Prices Lift US E&Ps, Fuel M&A Discussions, RBC Says
US oil producers are using higher crude prices to strengthen shareholder returns and debt plans as merger interest grows, RBC Capital Markets said in a Friday note.Oil prices reached a three-week high of $87 per barrel after President Donald Trump announced a "crushing economic operation" against Iran, RBC said.Despite higher prices, public US producers have shown little interest in sharply increasing output because structural demand growth remains limited.Instead, stronger oil prices have prompted producers to focus on debt repayment and shareholder returns, while some companies are also considering opportunistic hedging strategies.Trump also signaled potential support for reviving the Keystone XL pipeline, which could transport 830,000 barrels per day of heavy crude from Canada and the Bakken to Nebraska pipeline facilities before reaching Gulf Coast refineries.RBC said uncertainty remains over how Keystone XL would compete with rising Venezuelan crude volumes at US refineries as US producers prepare to sign supply contracts with Venezuela's state-owned oil company.Over the week, oil-weighted exploration and production companies gained 10%, while gas-weighted exploration and production companies rose 2%; large-cap and small- to mid-cap producers each advanced 7%, RBC saidThe SPDR S&P Oil & Gas Exploration & Production ETF rose 5%, while WTI gained 6% and Henry Hub natural gas increased 1% over the week, according to RBC.Merger discussions remained a key investor theme, with Exxon Mobil (XOM), Chevron (CVX), APA (APA), ConocoPhillips (COP), Diamondback Energy (FANG), Devon Energy (DVN) and EOG Resources (EOG) cited as potential buyers or targets.Antero Resources (AR), EQT (EQT), Ovintiv (OVV), Matador Resources (MTDR), Permian Resources (PR) and Infinity Natural Resources (INR) were also among the names investors identified in merger discussions, RBC said.Generalist investor interest in energy increased as WTI approached $90/bbl, while investors also raised questions about budgets and rising oilfield-services costs at higher crude prices, RBC said.Near-term catalysts include Devon Energy's plans to sell assets, Expand Energy's (EXE) new chief executive, and Tamboran Resources' (TBN) first gas sales.Price: $166.00, Change: $-0.15, Percent Change: -0.09%
$APA$AR$COP$CVX$DVN$EOG$EQT$EXE$FANG$MTDR$OVV$TBN$XOM
Wire
Capital One Adjusts Price Target on EOG Resources to $161 From $155
EOG Resources (EOG) has an average rating of overweight and mean price target of $160.29, according to analysts polled by FactSet.Price: $150.70, Change: $+2.00, Percent Change: +1.34%
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Commodities
US Rig Count Rises as Permian Activity Signals Further Production Growth, UBS Says
The US oil and gas rig count rose for a second consecutive week, led by increased drilling activity in the Permian Basin, UBS strategists said in a note on Wednesday, while government forecasts point to further growth in crude and gas production through 2027.UBS analysts said that active rig count in the Lower 48 rose by three to 619 on a four-week average basis. The total is now 13% above the level at the end of 2025, with oil-directed rigs up 24% over the same period while gas rigs have fallen 9%.The bank said that the Permian added one rig overall last week, with activity in the Delaware sub-basin increasing by two rigs and activity in the Midland declining by one rig.Outside the Permian, the Williston and Barnett each added one rig, while the Eagle Ford and Denver-Julesburg basins each lost one.On the gas side, the Haynesville added one rig, while Appalachia was unchanged.The latest rig data comes as the US Energy Information Administration's August Short-Term Energy Outlook points to improving fundamentals in the Permian, which is expected to remain a key driver of domestic production growth.Permian's active rig count increased by six rigs to 248 in Q2, marking the first quarter-over-quarter increase since Q2 2024, UBS said, citing EIA data.Wells drilled and completed both increased 5% from the previous quarter, while crude production rose 3% to 6.81 million barrels per day.The basin's oil output is projected to remain broadly flat in Q3 before rising to 6.88 million barrels per day in Q4, according to the EIA. Production is forecast to increase further in 2027, averaging 7.03 million b/d.Gas output in the Permian was unchanged from the previous quarter at 28.9 billion cubic feet per day, reflecting takeaway constraints that have contributed to significant curtailments.UBS said that new pipeline capacity is expected to ease those bottlenecks, with the EIA forecasting Permian gas production to average 31.55 Bcf/d in 2027, up 2.4 Bcf/d.Within UBS's coverage group and integrated oil companies, the number of active rigs rose by two last week to 279. Chevron (CVX) and Expand Energy (EXE) each added one rig.Exxon Mobil (XOM) remained the most active publicly traded operator, with 35 rigs, followed by Devon Energy with 33, ConocoPhillips (COP)with 30, and EOG Resources (EOG) and Occidental Petroleum (OXY) with 23 each.Price: $206.54, Change: $+2.58, Percent Change: +1.26%
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Wire
Morgan Stanley Adjusts EOG Resources Price Target to $157 From $156, Maintains Equal Weight Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $159.89, according to analysts polled by FactSet.Price: $150.42, Change: $+1.72, Percent Change: +1.15%
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Equities
Barclays Adjusts Price Target on EOG Resources to $147 From $153, Keeps Equalweight Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $159.89, according to analysts polled by FactSet.
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Equities
Capital One Adjusts EOG Resources PT to $155 From $157, Maintains Overweight Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $160.11, according to analysts polled by FactSet.
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Equities
Wells Fargo Adjusts EOG Resources PT to $193 From $196, Maintains Overweight Rating
EOG Resources (EOG) has an average rating of overweight and mean price target of $160.11, according to analysts polled by FactSet.
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Commodities
US Shale Drillers Adopt Simultaneous Fracking to Cut Well Costs, UBS Says
US shale producers are turning to more advanced hydraulic-fracturing techniques to accelerate completion times and lower well costs, with the efficiency gains expected to extend into 2027, UBS strategists said in a note on Tuesday.UBS analysts said that a broader adoption of simultaneous fracturing, or simulfracs, was a key theme during Q2 earnings season, as producers seek to improve productivity while maintaining capital discipline amid shifting commodity prices.Crescent Energy (CRGY) and SM Energy (SM) in the Uinta Basin reported significant gains after adopting simulfracs.Crescent said it used the technique on all its 2026 Uinta turn-in lines, compared with none in 2025. This has increased completion speeds by about 90% and contributed to a decline of over 15% in well costs on a per-foot basis.SM Energy reported that it more than doubled the efficiency of its Uinta completions quarter-over-quarter in Q2 after switching to simulfracs.The efficiency gains are also being seen among larger producers that have already adopted the technology.Occidental Petroleum (OXY) increased the share of simulfracs in its US onshore completion program to over 45% in 2026, from 10% in 2025.The energy firm cited the approach as one factor behind a 7% year-over-year decline in well costs.Devon Energy (DVN) also plans to expand the use of simulfracs as it applies completion practices developed in its own operations to assets acquired from Coterra Energy (CTRA).Meanwhile, Chord Energy (CHRD) evaluated the use of a trimulfrac in the Williston Basin during the quarter.The energy firm, which began using simulfracs in late 2024, said initial results from the three-well simultaneous completion approach were encouraging, according to UBS.Chord expects trimulfracs could account for between 20% and 50% of its completions in 2027, potentially generating additional cost savings.Meanwhile, the latest UBS data showed the US active rig count averaged 616 on a four-week basis, unchanged from the previous week.The rig activity is up 12% from the end of 2025, driven by a 23% increase in oil-directed rigs. Gas-directed rigs, by contrast, have declined 8% over the same period.The Permian Basin was broadly unchanged week-over-week, with the Delaware adding two rigs, the Midland losing three and other parts of the Permian adding one.Outside the Permian, the Eagle Ford declined by two rigs and the Granite Wash fell by one. The Haynesville lost one gas rig, while Appalachia was unchanged.Energy firms covered by UBS, together with integrated oil and gas producers, operated 256 active rigs last week, up one from the prior week.Antero Resources and California Resources added one rig each, while Devon Energy reduced its count by one, potentially reflecting a rig move.Exxon Mobil (XOM) remained the most active publicly traded operator with 35 rigs, followed by Devon with 33, ConocoPhillips (COP) with 30, and EOG Resources (EOG) and Occidental Petroleum with 23 each.Price: $58.41, Change: $-0.65, Percent Change: -1.10%
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