EOG Resources Stock Outlook: Is Wall Street Bullish or Bearish?

With a market cap of $75.9 billion, EOG Resources, Inc. (EOG) is an energy company engaged in the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas across the United States, Trinidad and Tobago, and other international regions. It also provides gathering, processing, and marketing services.

Shares of the oil and gas company have slightly outperformed the broader market over the past 52 weeks. EOG stock has gained 27.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 26.6%. In addition, shares of the company are up 34.9% on a YTD basis, exceeding the SPX's 5.2% gain.

Looking closer, shares of the Houston, Texas-based company have lagged behind the State Street Energy Select Sector SPDR ETF's (XLE) 44.9% surge over the past 52 weeks. 

Shares of EOG Resources fell nearly 1% following its Q4 2025 results on Feb. 24. Net income dropped sharply to $701 million ($1.30 per share) from $1.47 billion ($2.70 per share) in Q3 2025, while total revenue declined to $5.64 billion from $5.85 billion, reflecting lower realized commodity prices, including WTI oil at $59.17/bbl versus $64.95/bbl in Q3. 

For the fiscal year ending in December 2026, analysts expect EOG's EPS to climb 45.2% year-over-year to $14.75. Moreover, the company's earnings surprise history is strong. It beat the consensus estimates in the last four quarters.

Among the 33 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 14 “Strong Buy” ratings, two “Moderate Buys,” and 17 “Holds.”

On Apr. 27, BofA analyst Kalei Akamine raised the price target on EOG Resources to $139 while maintaining a “Neutral” rating on the stock.

The mean price target of $156.90 represents a 10.8% premium to EOG’s current price levels. The Street-high price target of $199 suggests a 40.5% potential upside.