Mizuho cuts EOG Resources to 'neutral' on inventory, margin worries

Mizuho cuts EOG Resources EOG.N to "neutral" from "outperform", PT by $8 to $140, still a 9.2% upside to last close

Says a key concerns is depth and quality of EOG's remaining shale inventory, esp in oil-focused basins like Delaware, Eagle Ford

Adds cash margins per barrel seems to be declining due to higher cash taxes, operating costs and commodity mix

On top of that, Mizuho sees drop in oil prices in 6-12 months due to higher OPEC+ supply, likely lower demand

Still, avg rating of 33 brokerages on EOG is 'buy' median PT is $145 - data compiled by LSEG

Up till last close, stock up 4.64% YTD