Truist raised the firm’s price target on EOG Resources to $169 from $165 and keeps a Buy rating on the shares after its Q3 earnings beat. The company not only materially stepped up its shareholder returns on the latest release, but also notably increased its double premium inventory, the analyst tells investors in a research note. EOG also boosted its minimum annual shareholder returns payout to over 70% of free cash flow, which is unlikely to decline in the coming years, the firm added.
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