Barclays cuts EOG PT after it trims capex plan on tariff concerns

ReutersMay 2, 2025 3:17 PM

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Shares of U.S. shale producer EOG Resources EOG.N fall 1.3% to $110.27

Barclays cuts PT to $137 from $140; representing a 22.7% premium to stock's last close

Says as the first large-cap E&P co to report results, EOG sets the tone for a measured capex cut, which flattens out oil production without materially affecting broader portfolio development

Company late on Thursday trimmed its capital expenditure plan for the year on tariff uncertainty (add link)

Co reduced its 2025 capex plan by $200 million to between $5.8 billion and $6.2 billion

Including session's moves, shares down 10.3% YTD

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