Raymond James Raises EOG Resources (EOG) PT to $161 Following Production Exceeding Guidance

EOG Resources Inc. (NYSE:EOG) is one of the most undervalued quality stocks to buy according to hedge funds. Earlier on July 22, Raymond James raised the price target on EOG Resources to $161 from $158, while maintaining a Strong Buy rating on the shares. The analyst noted that oil prices have recovered despite macroeconomic uncertainty and that EOG’s management is not expected to make significant changes to its activity levels.

Following this sentiment, EOG Resources reported a Q2 2025 net income of $1.345 billion, or $2.46 per share, and an adjusted net income of $1.268 billion, or $2.32 per share. EOG generated $1.0 billion in free cash flow, contributing to the return of $1.1 billion to shareholders during the quarter, which included $528 million in regular dividends and $600 million in share repurchases.

EOG’s production volumes exceeded the midpoints of its guidance. Crude oil and condensate production reached 504,200 barrels of oil per day/Bopd, while natural gas liquids/NGLs production was 258,400 thousand barrels per day/MBbld, and natural gas production was 2.229 billion cubic feet per day/MMcfd. Total crude oil equivalent production averaged 1,134,100 thousand barrels of oil equivalent per day/MBoed.

EOG Resources Inc. (NYSE:EOG) explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the US, the Republic of Trinidad and Tobago, and internationally.

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