Wall Street Has a Mixed Opinion on EOG Resources (EOG), Here's Why

​EOG Resources, Inc. (NYSE:EOG) is one of the Best Very Cheap Stocks to Invest In. On November 20, Devin McDermott from Morgan Stanley maintained a Hold rating on the stock, raising the price target from $136 to $138. Earlier, on November 18, Mark Lear from Piper Sandler had also maintained a Hold rating on EOG Resources, Inc. (NYSE:EOG) but lowered the price target from $129 to $124.

The ratings follow the company’s fiscal Q3 2025 results, announced on November 6. During the quarter, revenue decreased 1.98% year-over-year to $5.85 billion but surpassed estimates by $260.39 million. Moreover, the EPS of $2.71 also topped the consensus by $0.26. Management noted that the revenue decreased due to lower NGL and natural gas prices in comparison to Q2 2025. However, the company was still able to top the consensus driven by higher crude oil & condensate prices.

​Analyst Mark Lear from Piper Sandler noted that while the company topped estimates during the quarter, the oil macro environment still does not feel great. He also added that the gas equity rally “has run a bit too far.”

​EOG Resources, Inc. (NYSE:EOG) is a leading crude oil and natural gas exploration and production company primarily operating in major US basins and Trinidad.

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