BUZZ-Mizuho raises PT on EOG Resources post Q3 profit beat

Reuters11-22 22:59

** Brokerage Mizuho raises price target on oil and gas producer EOG Resources to $156 from $148 after co beat Q3 profit estimates on Nov. 7

** New price target represents a 15% upside to the stock's last close

** Brokerage says company's steady cash levels and low debt-to-EBITDA ratio, which is sensitive to oil prices, allows it the flexibility to return more than 100% of its free cash flow to shareholders if desired

** Adds that this level of counter-cyclical cash returns, maintaining or increasing payouts during downturns, is unprecedented in the U.S. oil and gas sector

** 16 of 33 brokerages rate the stock "buy" or higher, 17 "hold"; their median PT is $142 - data compiled by LSEG

** Including session's moves, stock down 12.03% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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