Roth Capital Downgrades EOG Resources (EOG) to Neutral From Buy, Lowers PT to $134

EOG Resources, Inc. (NYSE:EOG) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. On July 9, Roth Capital analyst Leo Mariani downgraded EOG Resources, Inc. (NYSE:EOG) to Neutral from Buy, lowering the price target to $134 from $140.

The firm supported this downward revision in rating to global oil prices, which are close to a near-term top, and stated that it is seeing risk to the downside for oil prices in the second half of the year.

The analyst also told investors in a research note that OPEC+ seems likely to add back a certain amount of oil to global markets between April 1 and September 30. These volumes are expected to put the global oil markets into an oversupplied state.

EOG Resources, Inc. (NYSE:EOG) explores, develops, produces, and markets natural gas and crude oil. Its operations are divided into the following geographical segments: United States, Trinidad, and Other International.

While we acknowledge the potential of EOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.