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

On June 29, 2026, Morgan Stanley expert Devin McDermott lowered the firm's terms people connected EOG Resources, Inc. (NYSE:EOG) to $156 from $160 and kept an Equal Weight rating. McDermott noted that lipid prices person declined since the U.S. and Iran announced a memorandum of knowing connected June 14, with WTI present lone somewhat supra pre-conflict levels. Morgan Stanley refreshed its estimates for the latest vigor prices.

Last month, Barclays raised its terms people connected 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. accumulation effect to the Middle East warfare are reinforcing a tighter lipid macro backdrop that is not afloat reflected successful equities. The steadfast said this sets up "oily" exploration and accumulation companies for a stock re-rating aft the conflict. Barclays besides chopped its state terms outlook connected near-term oversupply and adjusted ratings and terms targets crossed integrated lipid and exploration and accumulation names.

Also successful May, Mizuho raised its terms people connected EOG Resources to $157 from $149 and kept a Neutral rating. Mizuho expects the interaction of the Iran situation connected planetary lipid prices and refining cracks to beryllium prolonged. The steadfast accrued its 2026 and 2027 lipid terms outlook by 25% and 6%, respectively, portion raising its forecast for U.S. refining cracks by 61% and 51%. Mizuho said a pullback successful banal valuations contempt elevated commodity prices creates an accidental to question "alpha" successful U.S. lipid and gas.

EOG Resources, Inc. (NYSE:EOG) explores for, develops, produces, and markets crude oil, earthy state liquids, and earthy state successful the United States, the Republic of Trinidad and Tobago, and internationally.

While we admit the imaginable of EOG arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double successful 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.

Disclosure: None. Follow Insider Monkey connected Google News.