Melius Launches Coverage on EOG Resources (EOG), Assigns Buy Rating

EOG Resources, Inc. (NYSE:EOG) is one of the best dividend stocks to buy. On August 20, Melius Research began coverage of EOG, assigning a Buy rating and setting a price target of $173. The firm noted that the company’s disciplined use of core is a good reason for its favorable outlook.

The firm noted that EOG Resources, Inc. (NYSE:EOG)’s strategy of focusing on internal growth rather than buying other companies makes it stand out in the energy industry.

According to Melius, the company’s use of technology has made it possible to produce oil and gas at lower costs while keeping wells highly productive.

EOG is an independent oil and natural gas company in the United States, with its headquarters in Houston, Texas. It works in several big shale regions and has maintained dividend payouts for 36 years.

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.

READ NEXT: Dow 20 Stocks List: Ranked By Hedge Fund Bullishness Index and 10 Unstoppable Dividend Stocks to Buy Now.

Disclosure. None.