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EOG RESOURCES INC

EOG Resources

EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2024, it reported net proven reserves of 4.7 billion barrels of oil equivalent. Net production averaged roughly 1,062 thousand barrels of oil equivalent per day in 2024 at a ratio of 69% oil and natural gas liquids and 31% natural gas.

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Shares of energy companies are trading higher following a favorable U.S. jobs report and renewed trade talks between President Trump and Chinese leader Xi Jinping, boosting hopes for economic growth in the world's two largest economies.

Drillers are packing up their gear, and investors should be paying attention, especially those invested <a href="https://www.benzinga.com/money/best-oil-stocks">in oil stocks</a>.
According to the latest Baker Hughes <a href="https://rigcount.bakerhughes.com/static-files/02aaefec-4ede-4ded-bcbb-de2c28d3e93a">report</a>, the number of <a href="https://rigcount.bakerhughes.com/intl-rig-count">international oil rigs</a> (excluding North America) fell by six rigs in May to 653, marking the lowest count in two decades outside of the COVID-19 pandemic collapse. 
That's not just a statistic, it's a potential signal of tighter oil supply ahead.
Read Also: <a href="https://www.benzinga.com/markets/25/05/45580812/trump-may-want-a-recession-market-observers-say-it-serves-his-economic-agendalower-rates-inflation-and-trade-deficit">Trump May &#8216;Want&#8217; A Recession: Market Observer Says It Serves His Economic Agenda—Lower Rates, Oil Prices, And Trade Deficit</a>
<h1 class="wp-block-heading">Fewer Rigs, Supply Squeeze, Price Boost</h1>
Fewer rigs today often mean lower production tomorrow, especially when it comes to long-lead international projects. With global demand holding steady — and OPEC+ keeping barrels off the market — this dip in drilling activity could tilt the oil market toward another supply squeeze.
For investors, this backdrop favors upstream oil producers that can operate efficiently, maintain capital discipline and generate strong cash flow even when rigs are idled.
Diamondback Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) is a textbook example. Despite plans to drop three rigs in the second quarter due to soft prices, its focus on the Permian Basin, industry-leading cost structure and resilient profitability — net income rose 7% from 2014 to 2023 despite falling oil prices — makes it a standout.
Coterra Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>) is also dialing back rig activity in the Permian but brings a diversified mix to the table, thanks to its Marcellus shale gas assets. That combo helps cushion the company against crude price volatility while continuing to deliver shareholder returns.
EOG Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) remains the shale innovator to watch. With top-tier assets in the Permian and Eagle Ford, EOG's commitment to per-well recoveries, capital efficiency and data-driven development makes it well-suited to thrive in a post-drilling-boom world.
And don't count out Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) — Warren Buffett certainly hasn't. Its deep Permian presence and focus on carbon capture and enhanced oil recovery position it for both near-term gains and long-term relevance.
<h1 class="wp-block-heading">Energy ETFs Could See Renewed Investor Interest</h1>
Meanwhile, ETFs such as the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) — which track large-cap and exploration and production energy stocks, respectively — could see renewed investor interest if crude prices move higher on supply-tightening signals.
For energy investors, this 20-year rig count low might just be the rallying cry.
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20-Year Low In Rig Counts Could Fire Up Oil Prices — And These Stocks

UBS analyst Josh Silverstein maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Buy and raises the price target from $135 to $140.

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UBS Maintains Buy on EOG Resources, Raises Price Target to $140

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Shares of oil stocks are trading higher amid an OPEC+ decision to keep output levels unchanged.

Barclays analyst Betty Jiang maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Equal-Weight and raises the price target from $137 to $140.

Barclays Maintains Equal-Weight on EOG Resources, Raises Price Target to $140

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Truist Securities raised Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) price target from $89 to $100. Truist Securities analyst Scot Ciccarelli maintained a Buy rating. Dollar Tree shares closed at $90.26 on Friday. See how other analysts <a href="https://www.benzinga.com/quote/DLTR/analyst-ratings">view this stock</a>.</li>
<li>Keybanc slashed the price target for UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) from $450 to $400. Keybanc analyst Matthew Gillmor maintained an Overweight rating. UnitedHealth shares closed at $301.91 on Friday. <a href="https://www.benzinga.com/quote/UNH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James raised Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) price target from $74 to $79. Raymond James analyst John Davis maintained an Outperform rating. Block shares closed at $61.75 on Friday. See how other analysts <a href="https://www.benzinga.com/quote/xyz/analyst-ratings">view this stock</a>.</li>
<li>Wedbush increased the price target for Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) from $128 to $129. Wedbush analyst David Nierengarten downgraded the stock from Outperform to Neutral. Blueprint Medicines shares closed at $101.35 on Friday. <a href="https://www.benzinga.com/quote/bpmc/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho increased the price target for SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from $15 to $18. Mizuho analyst Maheep Mandloi maintained a Neutral rating. SolarEdge Technologies shares closed at $17.86 on Friday. <a href="https://www.benzinga.com/quote/sedg/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS raised SPX Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXC#NYSE">SPXC</a>) price target from $160 to $182. UBS analyst Damian Karas upgraded the stock from Neutral to Buy. SPX Technologies shares settled at $152.09 on Friday. <a href="https://www.benzinga.com/quote/spxc/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley increased EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) price target from $132 to $135. Morgan Stanley analyst Devin McDermott maintained an Equal-Weight rating. EOG Resources shares closed at $108.57 on Friday. <a href="https://www.benzinga.com/quote/eog/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Jefferies raised Rollins, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROL#NYSE">ROL</a>) price target from $55 to $65. Jefferies analyst Stephanie Moore upgraded the stock from Hold to Buy. Rollins shares closed at $57.24 on Friday.  <a href="https://www.benzinga.com/quote/rol/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities increased the price target for The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) from $185 to $260. B of A Securities analyst Ronald Epstein upgraded the stock from Neutral to Buy. Boeing shares settled at $207.29 on Friday. <a href="https://www.benzinga.com/quote/ba/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) price target from $45 to $65. Goldman Sachs analyst Jordan Alliger upgraded the stock from Neutral to Buy. Knight-Swift Transportation shares closed at $44.32 on Friday. <a href="https://www.benzinga.com/quote/knx/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying BA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="579" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02093559/image-11-1024x579.png" alt="" class="wp-image-935238" style="width:628px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02093559/image-11-1024x579.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02093559/image-11-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02093559/image-11-768x434.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02093559/image-11.png 1167w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Boeing To Rally More Than 25%? Here Are 10 Top Analyst Forecasts For Monday

Raymond James analyst John Freeman maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Strong Buy and raises the price target from $148 to $158.

Raymond James Maintains Strong Buy on EOG Resources, Raises Price Target to $158

Morgan Stanley analyst Devin McDermott maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Equal-Weight and raises the price target from $132 to $135.

Morgan Stanley Maintains Equal-Weight on EOG Resources, Raises Price Target to $135

<h3 class="wp-block-heading">New On The Block</h3>
<ul class="wp-block-list">
<li>Revolution Beauty is putting itself in the shop window. The UK cosmetics brand has kicked off a formal sale process and is considering funding options as part of a broader strategic review, including a potential sale. Advisors are on board and talks with interested parties have begun. The news comes as CEO Lauren Brindley <a href="https://theindustry.beauty/revolution-beauty-ceo-lauren-brindley-exits/">departs</a> the company. Brindley, who became CEO in September 2023, <a href="https://www.benzinga.com/topic/beauty">accepted a leadership position</a> at Ulta Beauty Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>).</li>
</ul>
<ul class="wp-block-list">
<li>Also for sale: Apryse, a Denver-based document processing software provider, is on the auction block. Thoma Bravo hired Lazard to fetch a buyer willing to pay over $3 billion, according to Reuters.</li>
</ul>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul class="wp-block-list">
<li>E.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45677382/elf-beauty-buys-hailey-biebers-brand-rhode-for-1-billion-now-shes-richer-than-husband-justin-bieber">just made a billion-dollar bet</a> on lip gloss and blush. The company acquired Hailey Bieber's cosmetics brand, Rhode, for a cool $1 billion. And now Hailey officially out-earns her pop-star husband, Justin. Founded in 2022 and named after her middle name (and stylized with a lowercase "r"), the startup owes its hefty price tag to a Gen Z following and $212 million in sales in just the last year. </li>
<li>Acrisure lands a $2.1 billion investment from Bain Capital at a $32 billion valuation. The Michigan-based insurance giant raised fresh capital and is putting it to work—agreeing to acquire the payroll business of Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) for $1.1 billion.</li>
</ul>
<ul class="wp-block-list">
<li>According <a href="https://www.ft.com/content/f4d12c75-1a54-4d8c-8aa6-f863cbdc4aab">to</a> Financial Times, Hologic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) rejected an unsolicited $16 billion takeover bid from Blackstone and TPG. </li>
</ul>
<ul class="wp-block-list">
<li>MBK Partners, Northeast Asia&#8217;s largest private equity firm, is set to <a href="https://asia.nikkei.com/Business/Business-deals/Asian-private-equity-firm-MBK-wins-first-negotiation-rights-for-Makino">acquire</a> Japanese machine tool maker Makino Milling Machine in a deal estimated at over 2 trillion won ($1.75 billion). MBK has secured exclusive negotiation rights, beating out Carlyle Group, and plans to proceed via a tender offer at 11,000 yen per share. The same price was previously offered by Nidec in a hostile takeover attempt in April 2025, which was withdrawn in May due to Makino's resistance. The exact scope of MBK's tender offer hasn't been revealed. MBK will finance the acquisition using its sixth blind fund, launched in 2024. Makino, founded in 1937 and headquartered in Tokyo, is a global leader in precision machine tools. </li>
<li>Private equity firm H.I.G. Capital is set to take over Rentokil's French workwear division for $464 million. </li>
</ul>
<h3 class="wp-block-heading">Off The Block</h3>
<ul class="wp-block-list">
<li>E2open (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>) is no longer for sale. The supply chain software firm just got picked up by Australia's WiseTech Global in a $2.1 billion deal. Shareholders will receive $3.30 a share in cold, hard cash—about 28% more than the stock's pre-announcement price and a whopping 68% premium over the closing stock price on April 30. <a href="https://www.benzinga.com/25/05/45612567/why-e2open-shares-are-trading-higher-by-25-here-are-20-stocks-moving-premarket">E2open&#8217;s shares rose</a> on the heels of the announcement and four <a href="https://www.benzinga.com/insights/analyst-ratings/25/05/45656183/4-analysts-assess-e2open-parent-holdings-what-you-need-to-know">analysts shared their evaluations</a>.</li>
</ul>
<ul class="wp-block-list">
<li>Energy company EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) inked <a href="https://www.benzinga.com/cannabis/25/05/45693631/eog-strikes-5-6b-deal-to-expand-utica-footprint-boosts-dividend#google_vignette">a deal to acquire</a> Encino Acquisition Partners (EAP) for $5.6 billion, including EAP&#8217;s net debt. EOG agreed to pay the sellers, Canada Pension Plan Investment Board (CPP) and Encino Energy, with cash and debt. The purchase price includes $3.5 billion in new debt and $2.1 billion in cash. The company expects the transaction to close in the latter half of 2025, upon clearance under the Hart-Scott-Rodino Act.</li>
</ul>
<ul class="wp-block-list">
<li>Scopely has officially completed its $3.5 billion acquisition of Niantic's games business, according <a href="https://mobilegamer.biz/the-3-5bn-scopely-niantic-deal-has-officially-closed/">to</a> Mobile Gamer. The deal brings in over 400 new staff and a blockbuster portfolio that includes &#8220;Pokémon Go&#8221; and Wayfarer apps. The acquired titles collectively attracted more than 30 million monthly active users and generated over $1 billion in revenue last year. Announcing the deal&#8217;s close on May 29, Scopely emphasized its commitment to continuity, stating that longtime Niantic leaders Kei Kawai and Ed Wu will continue to lead the game teams, ensuring stability for Pokémon fans and other titles. Niantic's remaining titles, &#8220;Ingress&#8221; and &#8220;Peridot,&#8221; will remain under the newly formed Niantic Spatial, still led by CEO John Hanke. Scopely's co-CEOs hinted at more acquisitions ahead, noting they evaluated over 800 companies last year.</li>
</ul>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
<ul class="wp-block-list">
<li>At Home, a home-goods retailer owned by private equity firm Hellman &amp; Friedman, is preparing to file for Chapter 11 bankruptcy. Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-05-27/retailer-at-home-prepares-to-file-for-bankruptcy-in-coming-weeks?sref=TBDibEcD">reported</a> that the company did not make its interest payment on May 15 and entered a forbearance pact with lenders on May 23, citing sources. The reprieve runs through June 30,</li>
</ul>
<ul class="wp-block-list">
<li>All 500 hand-scooped Thrifty Ice Cream counters inside Rite Aid locations are set to close. The beloved brand, founded in 1940, will still be available at some standalone shops and retailers. Rite Aid, which acquired the brand in 1996 and proudly served its signature cylindrical scoops across the West Coast, is now scooping out hundreds of store closures and looking to sell off assets as part of a <a href="https://abc7ny.com/post/rite-aid-stores-closing-drug-store-chain-close-300-more-locations-amid-bankruptcy/16588893/">bankruptcy</a> process, including Thrifty and its El Monte, California-based factory.</li>
</ul>
<ul class="wp-block-list">
<li>Everstream, a business-only fiber network, is selling most of its operations to stalking horse bidder Bluebird Fiber as part of a Chapter 11 bankruptcy auction. This follows earlier sales of its Illinois and St. Louis networks and plans to exit Pennsylvania. The sale to Bluebird includes most assets and comes with a $55 million lifeline in debtor-in-possession financing. Everstream remains open to better offers.</li>
</ul>
<h3 class="wp-block-heading">Notes From The Block</h3>
New data suggests that, after several volatile years, the behavioral health sector is regaining favor among strategic and financial buyers.
In the first quarter, 47 transactions were reported, including 34 mergers and acquisitions. That&#8217;s the highest M&amp;A volume since the fourth quarter of 2022, according to investment banker Kevin Taggart.
In <a href="https://www.mertztaggart.com/post/q1-2025-behavioral-health-m-a-report">a blog post</a> published this week, Taggart explained that renewed interest in the intellectual and developmental disabilities (I/DD) and autism segments was a key driver of the momentum. The firm tallied 12 transactions in Q1, the highest level since 2021.
Applied behavior analysis (ABA) therapy providers, in particular, are back in high demand. 
"The dust has seemed to settle" following the pandemic-era wage inflation and a wave of bankruptcies among large ABA providers, Taggart, a managing partner at Mertz Taggart, wrote. That shift has led to heightened buyer interest, especially in the wake of major exits.
The mental health subsector continues to show strong and steady deal flow, too. Twenty-nine transactions (19 M&amp;A and 10 growth investments) were announced in Q1, roughly matching the 30 deals reported in Q4 2024. 
Demand for psychiatric hospitals is particularly robust, though limited supply constrains deal volume. "We've had more groups ask us for psych hospitals since Q1 this year than probably any quarter in the last three or four years," Taggart said. "But there are fewer smaller operators out there."
Taggart also pointed to an ongoing trend: sustained investor appetite for high-valuation growth deals. "Money has continued to pour into these growth deals, which surprised us a bit," he said, signaling continued bullish sentiment across behavioral health verticals.
<a href="https://www.benzinga.com/top-stories/25/05/45593861/deal-dispatch-onlyfans-to-sell-for-8-billion-telecom-ma-heats-up-wolfspeed-on-road-to-bankruptcy">For last week&#8217;s edition of the Deal Dispatch, click here</a>.
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Deal Dispatch: Beauty Brand Seeks Pretty Price Tag, Behavioral Health Firms Hit Auction Block

Energy company EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) shares are trading lower premarket on Friday. The firm inked a deal to acquire Encino Acquisition Partners (EAP) for <a href="https://www.benzinga.com/pressreleases/25/05/n45691870/eog-resources-to-acquire-encino-acquisition-partners-from-cpp-investments-and-encino-energy-streng" target="_blank" rel="noreferrer noopener">$5.6 billion, including EAP&#8217;s net debt</a>.
EOG agreed to pay the sellers, Canada Pension Plan Investment Board (CPP) and Encino Energy, with cash and debt. The purchase price includes $3.5 billion in new debt and $2.1 billion in cash.
The company expects the transaction to close in the latter half of 2025, upon clearance under the Hart-Scott-Rodino Act.
EOG&#8217;s portfolio will grow by 675,000 net core acres, expanding its Utica position to 1.1 million net acres. In addition:
<ul class="wp-block-list">
<li>EOG's undeveloped net resource gets a boost of over two billion barrels of oil equivalent</li>
<li>Combined production will reach 275,000 BOE/day</li>
<li>A continuous position of 485,000 net acres that averages 65% liquids production.</li>
<li>In the natural gas window, the deal adds 330,000 net acres</li>
</ul>
Annually, the acquisition is expected to increase 2025 EBITDA by 10% and cash flow from <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">operations and free cash flow by 9%</a>.
EOG expects to achieve more than $150 million in synergies during the first year, primarily driven by reductions in capital, operating, and debt financing costs.
Dividend Boost: The board declared a dividend of $1.02 per share, up 5%, representing an indicated annual rate of $4.08.
This dividend is payable on Oct. 31 to shareholders of record as of Oct. 17.
As of March 31, EOG&#8217;s cash and cash <a target="_blank" href="https://www.benzinga.com//node/45150645" rel="noreferrer noopener">equivalent stood at $6.6 billion</a>.
Price Action: EOG shares are down 1.94% at $107.75 premarket at the last check on Friday.
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EOG Strikes $5.6B Deal To Expand Utica Footprint, Boosts Dividend

BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) on Thursday disclosed that BP Trinidad and Tobago (bpTT) confirmed that the Mento development has <a target="_blank" href="https://www.benzinga.com/topic/stories-that-matter?_gl=1&#x2A;8y1xs2&#x2A;_gcl_au&#x2A;Njk4MzA4NTEwLjE3NDgzMjkyNjM.&#x2A;_ga&#x2A;R1MxLjEuR1MxLjEuMTc0NDMwMjEyMi4xLjAuMTc0NDMwMjEyNi4wLjAuMC4xLjAuMTc0NDMwMjE3MS4wLjAuMA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NDg1MDY0NjAkbzExMCRnMSR0MTc0ODUwODMxNiRqNDkkbDAkaDA." rel="noreferrer noopener">successfully begun producing gas</a>.
This milestone was achieved through the secure connection of the initial discovery well. The drilling campaign for the remaining seven gross wells on the platform <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-tt-announces-mento-first-gas.html?utm_source=PC%26C%20%7C%20C%26EA%20%7C%20External%20%7C%20Global%20%7C%20bp.com%20news&amp;utm_medium=email&amp;utm_campaign=15026216_bpTT%20announces%20Mento%20first%20gas&amp;dm_i=1PGC,8Y2AW,5D8AP6,11BHYO,1" target="_blank" rel="noreferrer noopener">is</a> now set to commence.
The Mento development is a 50/50 joint venture, with EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) serving as the operator alongside bpTT.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/05/45664619/shell-boosts-nigerian-deepwater-assets-with-totalenergies-stake-purchase" rel="noreferrer noopener">Shell Boosts Nigerian Deepwater Assets With TotalEnergies Stake Purchase</a>
This development features a 12-slot, attended facility situated in acreage jointly licensed by bpTT and EOG, located off Trinidad&#8217;s southeast coast.
Mento is one of bp&#8217;s 10 major projects slated to commence worldwide between 2025 and 2027, as part of bp&#8217;s broader strategy to expand its upstream operations.
Production from Mento is expected to contribute significantly to the 250,000 barrels of oil equivalent per day (boed) combined peak net production anticipated from these 10 projects.
bpTT president David Campbell said, &#8220;For bpTT, this represents our second start up this year and it is tangible proof of the benefits of partnering with others to bring much needed gas into production. The bpTT/EOG partnership is progressing well as we continue to work on our next joint venture project Coconut.&#8221;&nbsp;
Investors can gain exposure to the stock via&nbsp;Precidian ETFs Trust BP plc ADRhedged&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/BPH#BATS">BPH</a>) and&nbsp;Texas Capital Texas Oil Index ETF &nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>).
Price Action: BP shares are trading higher by 0.73% to $29.15 premarket at last check Thursday.
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<li><a href="https://www.benzinga.com//node/45066828" target="_blank" rel="noreferrer noopener">BP Asset Sales In Egypt, Trinidad Weigh On Q1 Production As Profit Falls</a></li>
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Photo by Tada Images via Shutterstock

OILT

BP Announces First Gas At Mento Off Trinidad's Southeast Coast

B of A Securities analyst Noah Hungness maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Neutral and lowers the price target from $125 to $124.

B of A Securities Maintains Neutral on EOG Resources, Lowers Price Target to $124

Morgan Stanley analyst Devin McDermott maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Equal-Weight and raises the price target from $131 to $132.

Morgan Stanley Maintains Equal-Weight on EOG Resources, Raises Price Target to $132

In the preceding three months, 18 analysts have released ratings for EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), presenting a wide array of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">12</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">6</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $140.22, along with a high estimate of $160.00 and a low estimate of $125.00. Highlighting a 3.89% decrease, the current average has fallen from the previous average price target of $145.89. 
<img src="https://www.benzinga.com/files/images/story/2025/1747767707_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of EOG Resources by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Freeman</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Strong Buy</td>
<td>$148.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$134.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$137.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$140.00</td>
<td>$144.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$156.00</td>
<td>$161.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$133.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Tim Rezvan</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$140.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$130.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$136.00</td>
<td>$142.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$140.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$144.00</td>
<td>$146.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$125.00</td>
<td>$134.00</td>
</tr>
<tr>
<td>Arun Jayaram</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$132.00</td>
<td>$149.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$146.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$135.00</td>
<td>$141.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$160.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$142.00</td>
<td>$143.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$146.00</td>
<td>$148.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to EOG Resources. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of EOG Resources compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Capture valuable insights into EOG Resources's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/EOG/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on EOG Resources analyst ratings.</a>
<h2>All You Need to Know About EOG Resources</h2>
EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2024, it reported net proven reserves of 4.7 billion barrels of oil equivalent. Net production averaged roughly 1,062 thousand barrels of oil equivalent per day in 2024 at a ratio of 69% oil and natural gas liquids and 31% natural gas.
<h3>EOG Resources: Financial Performance Dissected</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Positive Revenue Trend: Examining EOG Resources's financials over 3M reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 0.14% as of 31 March, 2025, showcasing a substantial increase in top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: EOG Resources's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 25.04%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): EOG Resources's ROE stands out, surpassing industry averages. With an impressive ROE of 4.97%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): EOG Resources's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 3.11%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.17, EOG Resources adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 18 Analysts Discuss EOG Resources Stock

Raymond James analyst John Freeman maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Strong Buy and raises the price target from $140 to $148.

Raymond James Maintains Strong Buy on EOG Resources, Raises Price Target to $148

EOG Resources's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) short percent of float has fallen 4.86% since its last report. The company recently reported that it has 15.11 million shares sold short, which is 2.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.59 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>EOG Resources Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747684847_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for EOG Resources has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing EOG Resources's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, EOG Resources's peer group average for short interest as a percentage of float is 8.03%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into EOG Resources's Recent Short Interest

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EOG Resources Reports Fourth Quarter and Full-Year 2024 Results; Announces 2025 Capital Plan

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