Morgan Stanley Keeps Equal Weight Rating on EOG Resources (EOG)
Key takeaways
- Morgan Stanley Keeps Equal Weight Rating on EOG Resources (EOG) Jeff Lewis Wed, July 1, 2026 at 9:49 PM GMT+7 2 min read EOG CL=F EOG Resources, Inc.
- On June 29, 2026, Morgan Stanley analyst Devin Mc Dermott lowered the firm's price target on EOG Resources, Inc.
- Last month, Barclays raised its price target on EOG Resources to $153 from $140 and kept an Equal Weight rating.
Morgan Stanley Keeps Equal Weight Rating on EOG Resources (EOG) Jeff Lewis Wed, July 1, 2026 at 9:49 PM GMT+7 2 min read EOG CL=F EOG Resources, Inc. (NYSE:EOG) is one of the 10 Most Undervalued American Stocks to Invest In.
On June 29, 2026, Morgan Stanley analyst Devin Mc Dermott lowered the firm's price target on EOG Resources, Inc. (NYSE:EOG) to $156 from $160 and kept an Equal Weight rating. Mc Dermott noted that oil prices have declined since the U.S. and Iran announced a memorandum of understanding on June 14, with WTI now only slightly above pre-conflict levels. Morgan Stanley refreshed its estimates for the latest energy prices.
Last month, Barclays raised its price target on EOG Resources to $153 from $140 and kept an Equal Weight rating. Barclays said depleting inventories, shrinking OPEC spare capacity, and a "muted" U.S. production response to the Middle East war are reinforcing a tighter oil macro backdrop that is not fully reflected in equities. The firm said this sets up "oily" exploration and production companies for a share re-rating after the conflict. Barclays also cut its gas price outlook on near-term oversupply and adjusted ratings and price targets across integrated oil and exploration and production names.