Are Wall Street Analysts Bullish on EOG Resources Stock?
Houston, Texas-based EOG Resources, Inc. (EOG) explores, produces, and markets crude oil, natural gas liquids, and natural gas. With a market cap of approximately $63.6 billion, EOG Resources’ operations span the United States, the Republic of Trinidad and Tobago, and internationally.
The energy giant has significantly underperformed the broader market over the past year. EOG stock has dropped 4.8% over the past 52 weeks and 4.5% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 18.4% surge over the past year and 7.6% returns on a YTD basis.
Narrowing the focus, EOG Resources has also lagged behind the sector-focused Energy Select Sector SPDR Fund’s (XLE) 3.4% decline over the past 52 weeks and a marginal 30 bps dip in 2025.
EOG Resources’ stock prices observed a marginal dip in the trading session following the release of its mixed Q1 results on May 1. The company delivered higher-than-expected volumes; however, its realization didn’t meet estimates. Overall topline for the quarter came in at $5.7 billion, down 7.4% year-over-year, missing the consensus estimates by 2.8%.
On a positive note, the company’s adjusted net income dipped by a much more modest 2.5% year-over-year to $1.6 billion. Moreover, its adjusted EPS increased by 5 cents, driven by the impact of share buyback, coming in at $2.87 and surpassing the Street expectations by 4.7%.
For the full fiscal 2025, ending in December, analysts expect EOG to deliver an adjusted EPS of $10.01, down 13.9% year-over-year. However, the company has a solid earnings surprise history. It has surpassed the Street’s bottom-line estimates in each of the past four quarters.
The stock has a consensus “Moderate Buy” rating overall. Of the 29 analysts covering the stock, opinions include 12 “Strong Buys,” two “Moderate Buys,” and 15 “Holds.”
This configuration is slightly less bullish than a month ago, when 13 analysts gave “Strong Buy” recommendations.
On Jul. 23, Susquehanna analyst Biju Perincheril maintained a “Buy” rating on EOG and set a price target of $170, suggesting a 45.3% upside potential from current price levels.
Meanwhile, EOG’s mean price target of $139.61 represents a 19.3% premium to current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
