Zacks Investment Research downgraded shares of EOG Resources Incorporated (EOG) from NEUTRAL to UNDERPERFORM on January 22, 2015, with a target price of $82.00.
We are downgrading our recommendation on EOG Resources to Underperform from Neutral prior to its fourth-quarter 2014 earnings. EOG's results are particularly exposed to fluctuations in the U.S. natural gas markets, since this commodity accounts for almost half of the company s reserves. Infrastructure risk remains as EOG generates production in the high-growth sections of the U.S. In addition, as is the case with all exploration & production companies, EOG's results are vulnerable to historically volatile prices in world energy markets. Moreover, the risk-reward pay-off is still uncertain in the near future due to its natural gas weighted production and cost overruns.
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