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Investing.com - Raymond James has reiterated its Strong Buy rating on EOG Resources (NYSE:EOG) with a price target of $153.00 following the company’s third-quarter results. Currently trading at $109.06, EOG appears undervalued according to InvestingPro Fair Value estimates, with analyst targets ranging from $114 to $161. The stock is trading near its 52-week low of $102.52.
EOG performed in-line or better than expectations on most third-quarter operating metrics, with total production approximately 2% above estimates, while oil volumes were roughly in-line. EBITDA was in-line with Raymond James projections but about 3% above the Street consensus. The company reported $11.76 billion in EBITDA for the last twelve months, contributing to its "GOOD" overall financial health score according to InvestingPro analysis.
The company’s 2025 guidance remained mostly unchanged except for free cash flow, which increased approximately 5% due to lower operating costs of $10.10 per barrel of oil equivalent versus $10.35 previously, and reduced cash taxes of $120 million. EOG plans to run four Utica rigs for the remainder of the year instead of the previously planned five rigs. InvestingPro data shows EOG’s cash flows can sufficiently cover interest payments, with a free cash flow yield of 7% for the last twelve months.
EOG repurchased $440 million of shares during the third quarter and paid $545 million in dividends, bringing third-quarter shareholder returns to nearly $1 billion. The company currently offers a 3.74% dividend yield and has maintained dividend payments for 36 consecutive years according to InvestingPro data. The company also expanded its international operations, with the first well spud in Bahrain during the third quarter of 2025 and plans for its first well in UAE in the fourth quarter.
For 2026, Raymond James estimates a free cash flow yield of approximately 7% (FCF/EV) with EOG trading at roughly 5.4x 2026 estimated EV/EBITDA, based on preliminary guidance that assumes fourth-quarter 2025 capital expenditure run-rate and flat to low oil growth depending on macro conditions. Current metrics show EOG trading at a P/E ratio of 10.84 and EV/EBITDA of 5.42. For comprehensive analysis of EOG and over 1,400 other US equities, investors can access detailed Pro Research Reports through InvestingPro.
In other recent news, EOG Resources Inc. reported its third-quarter 2025 earnings, revealing a strong performance with an earnings per share (EPS) of $2.71, which surpassed analysts’ estimates of $2.46. However, the company faced a revenue shortfall, reporting $5.85 billion compared to the expected $5.95 billion. Despite this mixed financial outcome, EOG Resources’ earnings beat highlights the company’s ability to manage costs effectively. The revenue miss, however, indicates challenges in achieving expected sales figures. Analysts and investors are closely monitoring these developments to assess the company’s future performance. EOG Resources’ financial results continue to draw attention from market participants and industry observers. These recent developments emphasize the importance of evaluating both earnings and revenue outcomes.
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