Morgan Stanley Keeps Equal Weight Rating on EOG Resources (EOG)

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 McDermott lowered the firm's price target on EOG Resources, Inc. (NYSE:EOG) to $156 from $160 and kept an Equal Weight rating. McDermott 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.

Also in May, Mizuho raised its price target on EOG Resources to $157 from $149

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/morgan-stanley-keeps-equal-weight-144901123.html)